What is a business intelligence strategy

Finance: Business Intelligence can help finance departments by providing invaluable and in-depth insights into financial data.

Human Resources: HR can tremendously benefit from the implementation of Business Intelligence utilizing employee productivity analysis, compensation and payroll tracking, and insights into employee satisfaction.

To illustrate BI in action, here are a few departmental specific examples of insights and benefits that can come from its adoption and application: Effectively leveraging BI will empower your business with increased actionable data, provide great insights into industry trends, and facilitate a more strategically geared decision-making model. BI allows organizations access to information that is critical to the success of multiple areas including sales, finance, marketing, and a multitude of other areas and departments. The entire purpose of Business Intelligence is to support and facilitate better business decisions. The term Business Intelligence (BI) refers to the technologies, applications, strategies, and practices used to collect, analyze, integrate, and present pertinent business information. Today weвЂ™re going to breakdown Business Intelligence and why itвЂ™s crucial to the success and longevity of your organization.Д«efore we jump into the importance, we must first understand Business Intelligence and how it applies to your companyвЂ™s strategic initiatives.

Companies now have access to data-driven tools and strategies that allow them to learn more about their customers and themselves than ever before, but not everyone is taking advantage of them. Digital advancements have completely revolutionized our everyday lives, and one of the largest impacts felt has been in the business world.

We are living in the age of technological progression.

What is a business intelligence strategy