5 Ways Business Intelligence Consultant Can Help You Realize the Potential of Your Data
We live in the era of Big Data (with volume, variety and velocity), where massive information overloads are being thrown at us every day. While most organizations, in the beginning, would have succumbed to the pressure of piling data, it was gradually understood that one must invest significantly and smartly to control this data influx efficiently.
“Data are raw material of thousands of stories – tell a few of those stories to help make the data meaningful.” – Chip and Dan Heath, authors of “Made to Stick” and “Switch.”
As the quote rightly mentioned, as part of our graded response to Big Data overloads, it was gradually realized that the best thing we can do with the information is to try and understand it. So that one can make informed decisions and create culture for Data Driven Decision Making.
By getting the hang of the story that every data set tried to convey, work cultures at modern-day industries were revolutionized.
All of this became possible only because innovators could develop special solutions called Business Intelligence platforms.
- So, what are business intelligence solutions?
- Why are they so crucial?
- Who can help you out in getting them on board for your particular use cases?
Find all this and more in this blog today.
What Is Business Intelligence Consulting?
The sum of all strategies that a business utilizes to analyze its data and manage its business information in a more streamlined way is called Business Intelligence.
The professional who helps design these strategies is called business intelligence consultant.
Business Intelligence consultant helps examining organizational data to improve the overall decision-making based on this information and in optimizing the overall performance of the company.
One of the simplest reasons why companies need business intelligence solutions is that at the end of the day; it is always nice to be backed by some hard numbers when you implement a new strategy.
The importance of hiring a Business Intelligence consultant is that – one needs to understand what needs to be tracked, monitored, and improved as industry standard.
5 Benefits of Hiring A Business Intelligence Consultant
● Identifying Industry Standard KPIs for Business Reporting
Business Intelligence consultant empowers organizations to identify & monitor KPIs from various business units. For example, these KPIs can be related to sales, finances, operations, etc.
Further, since dashboards & reports are interactive and enriched with graphs, tables, and charts, good BI Consulting can help you lay hands-on interactive business information faster.
According to Gartner by 2022, 70% of organizations will focus on tracking data quality levels via metrics, making a huge surge in businesses embracing BI.
Experienced Business Intelligent consultant will recommend software that allows experimentation with variables for better understanding, metrics, and processing.
● Stay Ahead of Time
Good and timely Business Intelligence consulting is crucial to gauge changes in all the KPIs that impact productivity. This is because data coming from different departments is used comprehensively to generate actionable insights.
Insights about Revenue generation, Employee performance, return on investment, and many other operational aspects can be obtained timely through BI consultation.
● Analyze Competition
A solution that gives you the benefit of managing and manipulating a massive amount of data regularly is a competitive edge for your company.
BI consulting is all about recording, transforming, and using data appropriately to undertake budgeting and forecasting. Staying ahead of the competition requires assessment of competition on multiple parameters, and this is possible only when you have mechanism and tools to use the data.
Thus, good Business Intelligence consultant is needed to evaluate the competition and subsequent preparation comprehensively.
● Customer Satisfaction Benefits
BI consulting strategies can focus exclusively on customer behavior and purchase patterns. Analysis of this data is crucial to see which products perform better than others and the factors that trigger sales.
This way, BI consultation can help you target specific customers with right products/services to achieve better conversions.
● Revenue Impacts
As Business Intelligence Consultant helps you streamline all processes based on data and KPIs tracked, it directly impacts you Revenue.
Intellify BI Consulting Solutions
Our Extract, Transform, & Load (ETL) model ensures that your company finds meaning through scattered data. We also help create a data warehouse for companies who have already migrated to the Cloud or are still using on-premise solutions.
The data warehouse framework supports uninterrupted flow and storage of business data at one accessible place to ease analytics and insight generation.
To know more about what we do, talk to an Intellify Business Intelligence consultant now.