Understanding the basics of business intelligence services is the first step to figuring out just how your business can benefit from cloud based services that can master data management, assist with product development, and ensure that you retain customers (and great employees!) without sacrificing quality or productivity.
The next step might seem a little harder, merely because there are so many options available: you’ll have to figure out which business intelligence tools will benefit your business the most, both in the immediate future and in the long run.
The sheer size of the data management industry is often what drives business owners to the doors of cloud service brokers; even though 84% of businesses have stated that moving to the cloud helped them cut costs, and even though surveys show that businesses using analytics tend to make decisions five times faster than those neglecting data analysis, it’s estimated that around 99.5% of big data is still unused.
The reason, quite simply, is that most businesses aren’t sure how to begin implementing business intelligence tools into their normal data management routines.
So how can you begin?
First, understand that business intelligence goes hand-in-hand with something called analytics. BI tools are intended to help you collect and organize big data, while analytics tools will help you analyze that data so you can actually use it.
Second, remember that data warehousing plays a big role, too. If you can find a great hybrid IT service provider, you’ll also have access to a data warehouse; these services tend to be optimized for the non-technical people of the world, but can also come with advanced features for making predictions and calculating risks.
Third, keep in mind that business intelligence tools are intended to simplify a lot of complex data so that you can use it — so don’t automatically ignore a simple BI dashboard in lieu for a complicated system, and don’t discount the many benefits of public and community cloud services.
You want to create a system that fits your needs and the needs of your clients and business partners — and most importantly, you want to create a system that will grow as your business grows.