When it comes to analytics and business intelligence, there are several drastic changes that are happening over the years. People improve, and they are now getting faster internet connections. Nowadays, consumers expect that they can have everything available at the snap of the fingertips.
Many companies develop powerful BI tools to cater the constant thirst of business with regards to data. A lot of business intelligence tools that are embedded in a system fill the need of constant information and intelligence that is there to serve information to the right people that need the data. Gone are the days where business associated would drop whatever they are doing and focus on a single software application where they need to spend time and dig a lot in order to obtain data. Nowadays, most embedded BI aims to add features to an existing application and run reports. This is the beginning of goodbye when it comes to switching a lot of applications just to obtain the needed data. You can know more about business intelligence by clicking this link here.
A lot of companies rely on their IT teams to obtain data. This can cause tiresome days and conundrums for the poor IT guy who needs to cater to his colleagues’ need for data as well as making sure that the system is running smoothly. Technologies for searching and getting data are complicated and maintaining a whole lot of systems can be an added stress. The results are a backlog of all the reports from customers who have given feedback one month ago and it will be too late to change the situation. This culture will result in a slow growth of the business and missed opportunities for improving the products and services that should be done a month or so ago.
When using business analytics or embedded business intelligence, the employees, as well as the customers, are able to access information without the need to contact the IT department. The IT can focus on their job of keeping the system well-oiled while marketing and advertising representatives receive real-time reports directly from the system.
Many businesses and organizations are actually using embedded BI that was developed 10 years ago. This is a problem as technology is changing at hyper speed. Even if the businesses discover some tools that are slightly new, they might fail to recognize that they are still using the always-available technologies that only up-to-date business analytics can deliver. A lot of employees can now work away from the office. They can no longer tolerate walking or getting stuck in traffic just to warm their seats inside their cubicles. Many employees focus on getting the job done while they are at home. Employees have access to the right information because of embedded BI. They can view the data that they need and make the necessary changes regardless of anywhere they are in the world.
Many people consume a lot of time in just switching tabs alone. An updated BI has a single dashboard where everything is available at a single glance. It is not only the time the employees are concerned with, but it is also the train of thought that is lost in the process of going from one tab to another. If there are too many tabs to operate at so little time, it is a sign that the business needs to change its software and get the latest one.
No one will deny that spreadsheets are great tools to store data. However, there are more versatile ways that an employee can see the charts and visualizations without staring into rows of cells. You can read more about spreadsheets here: https://www.techopedia.com/definition/4426/spreadsheet. A simple graph with straightforward information is what most people need. The spreadsheet reports can work occasionally, but it is impractical to work with them on a daily basis. If someone needs to update to report with thousands of cells, this might present a challenge and even considered a burden. Embedded BI will be able to drastically cut the time in rebuilding and building reports. It allows the right person to view the right information whenever they need it.
Many businesses tend to clean their reports and prepping everything in order to present it to their accountants or investors. A marketing representative might be assigned with the task of collecting data from a lot of applications that the company uses. He might have to switch to several applications and combine it to a compact report and hope that nothing was lost during the data transfer. This is a very time-consuming task and a very inaccurate one. A company needs an embedded BI that automatically collects data from different sources and merging them into one. This eliminates the need to switch tabs or transfer data into a different system.
If you are struggling with one or two of the above, then it is time to contact an expert and ask how you can improve your business. Many companies eliminate the need for hiring a lot of people for the job of collecting data because of business analytics.