Organizational Benefits of Using BI Tools

//Organizational Benefits of Using BI Tools

Organizational Benefits of Using BI Tools

Business Intelligence (BI) is a technology-driven process for data analysis which delivers key business insights and helps users to make informed decisions.In the modern business landscape, BI tools have become essential in every company. One of the key functions of any BI solution is to generate quick and easy reports. From financial budgets to inventory lists to employee performance, BI tools can generate insightful reports on every aspect of the business. This allows managers and executives to make informed business decisions based on the findings of the reports.

EasyReports is one of the leading business intelligence tools available in the market that provides affordable analytical and reporting solutions.It is primarily targeted to small and medium sized companies. The BI solution comes with complete integration capabilities for Tally ERP.9, Microsoft NAV and SAP B1.

BI tools help an organization to run smoothly. In addition to data analysis, they also provide the following benefits.

Increase in productivity

Since most BI solutions are system driven, a lot of business processes are automated.A certain number of daily operational tasks which used to be carried out manually are performed by the automated system. This includes data entry jobs. BI tools such as EasyReports can be integrated with Tally software, thus, allowing users to import data from their Tally servers to BI platform in just a few clicks. All data is stored at one location, so employees do not have to go through old files and folders to find any information. With easy access to data, employees can easily create auto-generated reports at the click of a button. This saves up valuable time of the employees, which can be utilized for doing other important tasks. This helps to increase productivity of the entire workforce.

Accurate reporting

With all data stored in a centralized location through BI integration with external applications, employees can generate quick and precise reports in less time. Managers can easily view the company’s income, expenses, sales performance, employee productivity, inventory records and stock values all at one place. BI reporting tools help users to prepare comprehensive and detailed reports by comparing data on a yearly, monthly or quarterly basis. This helps managers to gain better insights, understand the company’s standing in the market.

New revenue opportunities

Business intelligence tools are able to identify key trends and patterns into the workings of a business. It can provide critical insights and discover key connections between two separate departments which may seem unrelated. This can help managers to find out about potential revenue opportunities in a business that may otherwise have gone unnoticed.

Gain consumer insights

With the aid of a BI solution, companies can gain new insights about consumer behavior. It helps in understanding the current market trends.Companies can analyze the current buying trends, learn more about the likes and preferences of the consumers, and also what they dislike. With the help of such information, manufacturers can produce new products that match the current consumption trends and consequently improve the company’s profitability.

Predictive analysis

An important use for BI solution is to predict the result of a business action. Known as prescriptive analytics, the tool picks out market trends and explores how they are likely to evolve. It is a way of finding patterns in historical data, referencing current data against those patterns, and figuring out the chances of certain events or situations arising in the future.

Cost cutting

BI tools look after all aspects of a business – from finance and accounts to inventory management to sales and employee evaluation. It keeps a track of all the various departments. A BI tool can help businesses to control and/or cut cost by identifying areas of cost saving in a specific department.

Higher return on investment

Organizations,which have implemented the right BI tool, get rewarded with faster reporting, increased productivity, decreased operation cost, more market awareness, and easier access to data. All this positively contributes to a company’s ROI.

EasyReports BI tool provides scalable, flexible and affordable reporting solutions with its real time Tally ERP9 integration facility. To know more about the benefits and avail the Free Trial, log on to www.easyreports.in

By | 2018-11-06T05:34:38+00:00 October 29th, 2018|Business Intelligence|0 Comments

About the Author:

Ravi Kedia, founder and CEO of EasyReports BI, started his career as a Business Analyst and worked with companies like Tata Consultancy Services, ITC and Accenture. In the year 2009 he started EasyReports BI with a vision to make analytics affordable and easy to implement for SMEs.

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