What is Business Intelligence?

Business Intelligence is like military intelligence. It's crucial information that helps you understand your own theatre of operations so you can plan and direct strategy accordingly.

How can it help me?

Business Intelligence can provide you with the information that you need to make the necessary decisions in your business. At its simplest BI will report your historical information in a timely fashion that allows you to make quick reactive decisions. Once that's in place it can help you plan for the future better by providing well based forecasting information.

For example

Costing is a good example of advanced BI. It allows you to really understand the costs that make up your product or service so that you can price competitively but realistically. You can make fact based decisions about which areas you can out price your competition in and which areas are worth surrendering. It can also help you plan new potential products or services.

KPIs (key performance indicators) are statistics and information about the key aspects of your business. BI can summarise this key information from multiple systems into a dashboard so you can see the state of your business with one glance.

Herring Ryan