We like to talk about the benefits of business intelligence quite a bit around here.  From the Economics of BI to data acquisition to the benefits of centralized data.  There are a lot of strategies and helpful suggestions we can try to make.  However, sometimes there are less obvious improvements that occur because of BI that deserve to also share the spotlight.

One of the really nice benefits that come with a BI platform is better communication and collaboration within the organization.  When everyone is viewing the same data it makes it easy to be on the same page.  And when everyone is on the same page, discussions are faster and more productive.  Add a checkmark for efficiency. 

Another nice benefit that is often overlooked is speed.  This partially comes from the collaboration mentioned previously, but it also comes because of the direct access to the information and insights. Now instead of waiting for someone to find the “right” data, the right data is available for review in a format that makes it easy to digest.  This makes it simple to make good decisions quickly on the fly. And accuracy gets a nod here, too.

Finally, I want to mention an advantage that comes from the previous two benefits mentioned above – employee engagement.  The value of having employees engaged cannot be emphasized enough.  When employees are empowered using BI to effectively find ways to improve the business that they can actually witness, employee engagement goes up.  And according to Gallup, companies with engaged workforces are up to 22% more profitable than competitors with lower engagement.  The profit goes up and employees are happier. It’s a win-win and I can’t think of anything better.

As always, ConradBI would love to get to know you and your company and help you take advantage of all the tangible and intangible benefits of BI.  Thanks for reading!