As a result of implementing business intelligence platforms, businesses and organisations gain value in a number of different functions, ranging from simple cost avoidance, to competitive advantage by creating faster and more timely availability of information to drive or automate decisions:
- Eliminate the need for users to extract and make personal or local versions of reports.
- Leverage important and valuable data currently being captured by ERP, CRM, SCM and other systems, that may not have the native capability to add value internally.
- Standardise the organisations output, to reduce the impact of employee turnover and loss of local knowledge
- Reduce the need for training by unlocking islands of information stored in Excel spreadsheets
- Improve the integrity of analytics by assuring source data validity and calculation integrity, reducing or eliminating the cost of business decisions based on incorrect data. Assuming that proper change control and scenarios are designed and in place.
- Enable information to drive automation within the organisations decision making. i.e. high turnover in stock been ordered to meet minimum volumes based upon availability and item turnover.
- Better meet financial reporting and regulatory compliance by assuring consistency of information and automating analysis, validation and distribution of reports by policy.