If you are running an organization then you would like to know what is happening with your business. What has happened so far? And what is going to happen to your business? And why this happened? These 4 W questions urge you to understand that what is business intelligence?
So Business intelligence is the mechanism for analyzing, monitoring and planning of your business data so you could take instant decision based on this data.
If you are working with number of software and you may have such big volume of data but unfortunately because of lack of business intelligence data you may ignore such potential of your business.
Answer for what is Business intelligence-it’s all about how your business is going and how your employee are preforming against the target given to them like sales team can be monitored against their target on time basis and you analyze the entire sales and increase sales as well.
You can find out the problem area in organization with business intelligence software, you can identify who has done it; if you want to monitor your strategy against the performance you need business intelligence software. Any department in any organization can monitor their performance against goals or target. To understand more about what is business intelligence you go through the Q&A below.
Business Intelligence Q&A
Q1. How business intelligence works?
Ans. In any business intelligence software and its dashboard are used to consolidate data from multiple sources and make them as useful information and then scored card can used for individual performance and goals. After this stakeholder of any company can ask any question if anything wrong happened to your company.
Q3. What happened to my organization?
You are running an organization and your business may not be performing well and you want to know how much revenue was expected and you have not achieved that or any target you have not achieved and what happened why it was not achieved. You might need business intelligence software to know such answers.
Q4. When this happened to my organization?
Time of that activity – let say your sales was not achieved but you want to know when this happened and analysis of that time. You have set some target they were not achieved and you want to know what was that time and what should we do next time to be on safe side. It may be considered if you have achieved something in summer time what else can sold in winter.
Q3. How your business is performing?
You want to know current performance of your business and what else can be done, let’s say your organization is doing well
Q4. How your business can grow?
This is very critical question – if you use business intelligence software that can tell you how your business can grow, it’s all about informative decision, it can gather data across the dashboard and display highly sophisticated information to user or business owner.
Terms used in business intelligence software:
Scorecard, Dashboard, KPI