Fast-changing business environments create a need to make decisions based on the most up-to-date data. That is why hundreds of organizations move every day toward a clearer future and deploy BI reporting. In addition to real-time reporting, BI also brings several other benefits presented in this article.
The last couple of years has shown that surprises might lurk behind every corner. Answering those challenges demands fast actions and adjustments from organizations. That is a difficult task for everyone, but especially for those organizations which do not have the most up-to-date data to support their decision-making.
BI tools solve this problem by retrieving the data from the target systems, such as accounting, HR, CRM, ERP, etc., and presenting the data automatically with visual dashboards. The dashboards updates every day with the newest data enabling more informed decision-making. The most up-to-date data is always available to you and your colleagues on any smart device.
All data collected in one place
BI tools enable collecting and combining data from all the target systems you decide to integrate with the BI tool. In addition to target systems, some of the advanced tools enable adding data also from Excel or other similar sources. You can use those sources, for example, to create budgets and add them to your BI reporting.
Collecting all the data into one place enables calculating automatically also those KPIs that demand data from several systems. This way, BI tools provide a view of how all the business functions work together and affect each other.
Sharing report views
With BI tools, you can create a limitless amount of different report views within minutes. The report views can be effortlessly customized for different audiences or even on a personal level. All the reports will be in the same portal, and you can choose which reports and report parts different people can see.
Creating interactive reports
BI tools provide the easiest way to create interactive reports. You can change the visual types with a single click and create different filters for your needs. You can, for example, filter the data by period, rolling averages, projects, etc.
Usually, moving from the traditional Excel reporting to BI reporting reveals bottlenecks in the existing processes and data quality. Deploying the BI reporting provides an excellent opportunity to fix the inefficient processes and spot the gaps in the data.
Way too many crucial business decisions are still made based on gut feeling. BI tools guide organizations towards a data-driven culture and help people support their arguments with data. BI tools also encourage people to take care of filling the up-to-data data to CRMs and all the other software used in the organization. It creates a base for a reliable data comparison over time and helps to make decisions based on quality data.
Moving data manually from one place to another always includes a high risk of human error. In the worst case, these human errors will distort the report a long time before someone notices it. It can cause massive costs for the business. BI reporting’s core is that the data moves automatically and naturally also the risk of human error decreases to its minimum. Better quality data also brings better analytics.
BI tools make it easier to compare data and see the causations between things. You can quickly spot if there are any mistakes in the data. The most advanced BI tools also enable setting alarms for the most important KPIs. If some radical changes happen in those KPIs, you will receive a notification.
BI Book - the easiest way to access BI reporting
BI Book reporting tool provides an easy and cost-effective way to integrate all your systems into Power BI and other leading BI tools. You don’t need to worry about building a data warehouse, having coding skills, or building any integrations - BI Book provides all that for you!