What indicates that you should use business intelligence solutions?

Each company has different goals, needs and budgets. Therefore, it is difficult to determine when to implement these solutions. However, if your company's turnover grows year by year, and your primary goal is to develop your company and become a market leader, then tools such as Power BI will undoubtedly support your business in implementing the adopted strategy. What should other factors make you think about using Microsoft Power BI in your company?

1. You have data, but you cannot draw any specific conclusions from it

You will probably need a BI system if the collected data does not lead to any particular feedback. It will help you to see correlations and trends and adjust your actions to achieve your business goals.

2. Data analysis is strongly linked to the IT department

If the IT department controls all the company's data and generates reports, their comprehensive analysis may become problematic. Without a system like Power BI, someone with technical skills will always be required.

3. You still rely on spreadsheets, despite the vast amount of data you collect

Excel has a specific limit of scalability. Data analysis and reporting become time-consuming and inefficient when you exceed this limit. The solution in this situation is business intelligence tools, for which data analysis from many sources and in real-time is not a problem. Moreover, they allow the creation of valuable visualizations of data and reports.

4. A noticeable drop in business process efficiency

If you notice that the time it takes to perform routine business operations is increasing and decisions are made based on intuition instead of data, this could be a sign that you need a business intelligence system. Tools such as Power BI can help you identify areas where you can automate processes or make changes to improve efficiency.

5. Inconsistency in data between different departments

If different departments within your business use various business intelligence systems or databases, this can lead to data consistency and difficulties in analysing the company's health. Implementing a business intelligence system allows you to integrate data from different sources and provide consistent information for all departments.

6. Increased competition in the market requires faster access to information

In a dynamic business environment, quick access to up-to-date data and analysis of market trends can be crucial to staying competitive. BI tools enable the generation of real-time reports and rapid analysis of large data sets, allowing almost instantaneous responses to changing market conditions.

7. Noticeable growth in the amount of data collected

If your business is steadily increasing the amount of data collected, this may mean that traditional methods of analysing it, such as spreadsheets, are becoming insufficient. Business intelligence systems allow you to effectively manage and analyse large data sets, enabling you to detect hidden patterns and trends that can provide valuable clues for reviewing your business strategy.

What shouldn't stop you from introducing business analytics?

- ERP system integration

Installing an ERP system or other sales management solution is a great moment to implement Power BI. Business intelligence systems do not complicate ERP deployment. On the contrary - they help to see if the data flow is correct immediately. You can even say that implementing both systems simultaneously can bring your company measurable benefits.

- Lack of qualified staff employment opportunities

Do you know what data analysis gives you, but you can't afford to hire a business analyst? It doesn't have to be an obstacle. Today's business intelligence systems, such as Power BI, are intuitive and help perform accurate analyses even for people without in-depth technical knowledge. Moreover, many of these tools can recognize and analyse data by themselves, creating entire spreadsheets. Power BI streamlines data analysis and provides valuable business information.

- Availability of affordable training and educational materials

Even if your company cannot afford to hire a highly skilled data analytics specialist, many online training courses and educational materials allow employees to gain the necessary knowledge in using business analytics tools such as Power BI or Microsoft Fabric. It is also worth asking experienced business intelligence systems consultants for support. A few hours of consultation often yields better results than trying to gain knowledge on your own.

- Possibility of integration with existing systems

Implementing business intelligence does not mean abandoning existing IT systems. Tools such as the Power BI business intelligence system can be easily integrated with existing ERP, CRM, or other management systems, allowing existing data to be used in the analysis and reporting process.

- Flexibility to adapt to changing needs

Business analytics based on modern tools like the Power BI business intelligence system are highly flexible and scalable. This makes it easy to adapt analyses and reports to changing business needs and growing volumes of data, enabling continuous improvement in decision-making and business efficiency.

How does the implementation of business intelligence tools affect the growth of companies?

Implementing business intelligence tools can have a significant impact on the growth of companies from many different perspectives. Here are some of the main benefits:

• More informed business decision-making

Business intelligence tools allow for rapid data analysis and clear reports, enabling far better fact-based decision-making. As a result, companies can react faster to market changes and make more informed strategic decisions based on all available data sources.

• Increasing operational efficiency

Business intelligence tools can help increase a company's operational efficiency by identifying areas for improvement, optimising processes, and automating routine tasks. This can lead to savings in time and resources, allowing you to focus on key growth initiatives.

• A better understanding of customers

Analysing customer data allows companies to better understand customers' needs, preferences, and purchasing behaviour. This enables them to create more effective marketing strategies and product offers, increasing customer loyalty and sales.

• Identifying new business opportunities

By analysing market data and trends, BI tools can help companies identify new business opportunities and trends that can bring additional revenue streams or improve existing products and services.

• Improve relationships with business partners

Access to precise data and reports can make it easier for companies to communicate with business partners and suppliers. This generally leads to more efficient collaboration, facilitated negotiations and building long-term relationships based on mutual trust and understanding.

If you want to implement a Power BI system, then contact us. Our experienced and certified consultants will choose the best solution for your company!