Business Intelligence (BI) is not only an intelligent support system; this solution can help the company achieve the highest target of the company i.e. profit optimization.
Managers of an organization must make hundreds of different decisions every day. However, collecting information is a challenge to managers because the information is scattered in multiple systems. You can choose software that is ideal for fast-scaling tech companies to increase business profit.
There have been many management solutions such as ERP (Enterprise Resource Planning), CRM (Customer Relationship Management) that can almost meet all these requirements.
However, in terms of operating managers consider these solutions have not been able to meet the requirements of information analysis and decision support.
Therefore, BI is a real following optimal solution for the company which helps to achieve the benefits of optimization goal because of the following utilities:
With the BI solution, taking the advantage of being able to analyze deeply into several aspects, managers themselves can immediately find the reason for the reduction in revenues, the sector in the organization does not work correctly.
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At present, to help extract information quickly companies are considered a cost-saving solution and improve efficiency.
Eliminate low-quality products
By measuring KPIs (key performance indicator) the number of guarantees, products with the lowest sales, or the number of customers and sales of these products, BI helps managers know the ineffective products which can be costly for the support and storage activities, so the decision to the elimination or improvement to be a new product.
Improve the ability of sales representatives
In companies that have multiple delivery channels and branches, sales representatives are organized in several levels. That is why it is difficult and time-consuming to measure and evaluate the effectiveness of each exactly.
Have a good assessment, consider the following factors: sales, number of new customers, and a typical factor to each channel. With the help of the BI system, managers can measure many factors to make accurate decisions to punish or grant.