Not long ago, it was almost impossible to predict about sales forecast, predicting how much to produce, how much to spend, where to produce, how much resources are required and many more unanswered questions. Those days are long gone with business intelligence taking over manual error prone calculations, making it easier to predict future in advance.
The rising need of Business Intelligence
Have you ever thought what would happen if you wouldn’t have to worry about rising expenses and how you would be to achieve that, or ever wondered how can you increase your revenue or juice out an untapped market? With advancement in technology taking over the entire world it has become a reality where expense reduction, revenue expansion is not a questionably hard dream to achieve.
Before taking Business Intelligence on board American airlines did not know that removing one olive from each salad of first class will result in saving 40,000$ annually. Neither Retail, nor FMCG sectors would have really understood their customers’ behavior if it wasn’t for Business Intelligence Tools.
Adapting Business Intelligence, is it really a costly affair?
Gone are those days, where you had to think “adapting to Business Intelligence will cost me a lot, only big companies with deep pockets can afford it,”. This is not a reality anymore.
With increasing number of Business Intelligence service providers and decreasing cost of Business Intelligence Tools and their implementation, taking advantage of these new age technology applications is not limited to MNCs or Fortune 500 companies anymore.
Companies like IntelliCompute are giving bang on buck services at extremely competitive prices. So it is not a luxury anymore to upgrade your Business platform with smart solutions and realise the benefits of Business Intelligence.
Revolutionary technology and immense war among AI /Business Intelligence service providers is making sure that you will be getting great services at cut throat low prices to boost your business to another level. SMEs have the maximum potential of taking advantage and putting it to good use on a budget as well.
Want to stay ahead of the technology curve?
Intellicompute being part of the evolving era, is using its experience from the last decade to ensure that SMEs do not lose out on their hidden potential. From making reports to identifying problems and making accurate predictions, Intellicompute has got your back on all fronts.
Advantages of Business Intelligence are not just limited to financial benefits. Business Intelligence is helping in smoothing of processes in HR, operations, marketing etc.
Top 6 advantages you can enjoy with Business Intelligence
- Saving Time: Don’t worry if you’re short on workforce, apt Business Intelligence implementation will bring automation and help you save precious time. Your workers will have to spend less time on unnecessary repetitive tasks and focus more on productive tasks on hand.
- Cost Cutting: One of the most important benefits of Business Intelligence is it helps in identifying potential cost cutting avenues. With limited funds to spend on operations, SMEs have learnt to appreciate Business Intelligence as not only does it help entrepreneurs make better budget plans but it also helps to allocate funds wisely.
- Gain Insights on Latest Trends: With Business Intelligence implementation, SMEs are able to identify industry trends early on, which helps them stay ahead of competitors using outdated technology.
- Quick Solutions for Critical Problems: You no longer need to scratch your heads over complex problems because in-depth reports and relevant data extracted out of unstructured data pools are being used to run analytical tools to derive business insights in no time. Accessing data and data analytics has become easier than ever.
- Understanding your Customer: Most importantly, with Business Intelligence it is not impossible anymore to understand customer behavior. Accurate insights are now readily available, when it comes to purchasing pattern, gathering customer data, understanding their needs & preferences, finding perfect customers. All these insights are helping SMEs to boost their sales revenue by a significant margin.
- Revenue Boost: Last and best, you’ll be able to identify any untapped marketplaces to boost your business – be it region-wise or community-wise or income categorized needs of consumers. Isn’t it amazing to completely understand where you are going wrong and where should your actual focus be to fetch dollar bills out of those potential hidden marketplaces? After all, raise in revenue is the main step-up for measuring success.
Studies have found out that Business Intelligence has enhanced simplified reports and is drastically improving decision making capacity of managers. If used well there is no count of the benefits of Business Intelligence for your business. It helps entrepreneurs out in making decisions like:
- How much to produce and where?
- How much demand to expect?
- How much to purchase and at what price?
- When to launch marketing campaign and what channel to use?
- How much discount should be given and to whom?
- Where to sell and at what price?
- How to measure performance and what reward to offer?
It has helped a lot of companies in finding their true potential and achieve success. The trend will go on towards making businesses smarter than ever. Join in for the crusade by adapting Business Intelligence Tools, if you wish to stay updated with the world.