What Is Business Intelligence & Analytics and Why It Is Important for Businesses?

In the current scenario of big data, many business owners find themselves surrounded by large volumes of data. They are trying to figure out ways to develop a better understanding and control of this information in order to derive the best value for their business.

Business intelligence &analytics is a blend of tools, technologies, applications, and best practices that help businesses gather, integrate, analyze and present raw data into easy-to-understand, thoughtful business data to improve and optimize decision-making and productivity.

Why Do You Need to Consider Business Intelligence and Data Analytics for Your Business?

In small businesses, spreadsheets and other ad hoc tools are often enough to do the job. However, as companies grow, the number of information decision-makers need to understand grows as well. New products and services, new markets and possibilities, expenditure on operations, sales, marketing, and other growth-enhancing systems.

As a consequence, most people need to be part of the data collection and analysis process, and different people within the organization (sales, marketing, finance, etc.) need to look at data in various ways. Typical issues with the spreadsheet method include:

Time-Consuming and Labour-Intensive to Maintain

Establishing a company-wide model, constructing organizational plans, delivering and collecting information from different management teams, centralizing multiple spreadsheets, and troubleshooting broken macros and formulas is becomes cumbersome.

Inadequate Collaboration and Feedback

Desktop spreadsheets are soloed and do not allow for real-time data sharing and updating. Obtaining a centralized, precise view becomes difficult.

Prone to Error

Studies show that 20 to 40 % of all spreadsheets contain mistakes and as they become more complicated, error rates increase. Without an audit trail, changes and mistakes can go unnoticed and businesses make decisions based on inaccurate data.

Insufficient Analysis and Reporting

Collecting and trying to cobble data together through spreadsheets is complicated. Precise information that decision-makers require can be difficult to access.

Resolute Consulting Group LLC’s business intelligence and data analytics services provide businesses with a way to simplify the data collection process, analysis and reporting. Business intelligence systems are designed on a centralized platform so that everyone associated with the process is given a single, real-time view of the data. Many BI solutions feature self-service dashboards and reporting tools that make it a lot easier and less time-consuming to contribute to and manage things. To learn more about services offered by Resolute Consulting Group Houston, please visit https://www.resolutecg.com/ or call at (832) 835-5353.

Comments

Post a Comment

Popular posts from this blog

The Significance of Customized Approach to IT Managed Services

Image
 There is no such thing as "one size fits all" when it comes to IT managed services. Your company's internal IT resources, expertise, and skills are all unique. They're the ones that define your needs and, as a result, determine what you expect from your Managed IT Service Provider. We've all heard of the words "out of the box" and "off the shelf." The concept of standardization, or the development of something that will fulfill the demands of most organizations at a low cost, has a lot of appeals. Standardization of service or proposition, on the other hand, is frequently associated with compromise in many organizations. When it comes to IT managed services, no two businesses are alike. The size of your in-house IT team, their skill set, the technology you choose and employ, and your long-term goals will all play a role in creating a unique environment. No matter how big or small your company is, you'll need IT managed service providers t
Read more

Managed IT Services Keep Your Company's Infrastructure Under Constant Surveillance

Image
 When you choose managed IT services , you're handing over control of your IT infrastructure to a third party. It may appear to be a risk, but an MSP is motivated to be as beneficial and productive as possible since otherwise, due to their flat charge, they risk losing money. However, there are other significant advantages to using managed IT services. Here are a few more advantages of a company's service offerings. Under the leadership of managed IT services, technical specialists provide thorough monitoring of your business infrastructure, administration, and data security, allowing you to focus on your firm's goals. You already know that when your personnel are doing what they were recruited to do and not dealing with technical issues, you'll receive the best results. They won't be worried by technological concerns if they outsource it to a managed IT services provider. Another advantage of managed services is that they provide 24-hour monitoring of your business
Read more

Managed IT Services Help You Achieve Your Key Goals with Minimal Hassle

Image
 Most enterprises in today's world need to be protected and managed from top to bottom. Due to a variety of factors, none of them may be overlooked, the most important of which is safety and competition quality. We are well into the twenty-first century, and practically every individual and organization is connected to the internet. Almost everything is recorded on a computer system, and a large portion of commerce is conducted electronically. With all of this sensitive data and information stored on these applications, it's only reasonable that they're well protected. Managed IT services and support can help in this situation. Managed IT services are a network-based platform that allows a company to be monitored, protected, and steered throughout the day, week, and month. An organization will collaborate with managed IT service providers, to receive attention and protection from IT experts in the hopes of taking their work to the next level. In an age when cybersecurity a
Read more