In very small companies, spreadsheets and adhoc tools are usually enough to keep track of the data needed for decision making. But as a company grows, tracking the increasing data loads can be difficult. And this difficulty makes it harder to derive useful insights from what you have.
Business Intelligence provides a neat solution to these problems. Unfortunately, the term Business Intelligence isn’t always well understood, and its potential uses even less so.

Here at BSBI we like to make sure your business is prepared, so we’ve put together a short primer on Business Intelligence (or BI).

What is Business Intelligence?

Business Intelligence is an umbrella term for various data analysis processes. It is aimed at improving business performance by allowing end users to make more informed decisions.

The BI process is technology driven, and encompasses a number of tools and applications, along with various methodologies to collect data from both internal and external sources. This data is prepared for analysis, before queries are developed and run based on the data.

The results are used to create reports, dashboards and visualisations that make the analytical results available to decision makers and other workers.

Initially, BI was used almost exclusively by large businesses and corporations. This was thanks largely to a high cost that made it impractical for smaller businesses. But as this industry has grown, new technologies and methods have reduced costs, making it practical for smaller companies.
Why Should I Use Business Intelligence?

The growth of BI has made it far easier and cheaper for small and medium businesses to get the same benefits available to large corporations.

​The benefits offered by BI are many and diverse, including:

  • The ability to share information efficiently and effectively throughout the company, giving everyone from top management to teams access to up-to-date information.
  • Empower your employees with access to analytical data that allows them to be more effective.
  • Deliver meaningful analysis and reporting, in order to track and gain a better understanding of your company’s performance.
  • Finally, the decision to adopt BI for your business gives you a scalable solution, that is flexible enough to adapt and grow with your company.