Transform information into strategy. The Business Intelligence (BI) allows you to collect and analyze the data needed to make key decisions that help achieve business success . Whether you have a small store or a large multinational, business intelligence adapts to all types of businesses.
Do you want to improve decision making in your company? Business Intelligence can help you in different ways. Next, we will review its main utilities.
Helps detect errors
Business intelligence tools will help you define the new products and services that you can offer your customers. And in case you have to do without the ones that are not profitable, you can also know it.
Furthermore, by implementing tools such as the Balance Scorecard (balanced scorecard), it is possible to detect and correct possible budgetary deviations .
Improved customer service
Similarly, BI is a great help to improve loyalty and customer service. Thanks to this process, you can detect who your most profitable customers are and customize campaigns focused on retaining them.
How is it possible to know what promotions interest them? For this you must start by collecting as much data as possible: age, marital status, sex, number of children, place of residence, etc.
More efficient logistics
Business intelligence is also used to achieve more efficient management of stock and logistics , which is especially relevant in products and services marked by seasonality.
Do you suffer continuous delays from your suppliers? The BI will reveal where the delays begin, what means of transport or couriers are the repeat offenders and what products are those that are usually late.
Anticipate consumption habits
Would you like to have a crystal ball that warns you in advance when a client wants to do without your services? Thanks to Business Intelligence, it is possible to predict it. With inquiries about promotions, billing data and behavior when visiting the website, these tools are able to detect changes in consumer behavior and when a turnover will occur. Before that happens, you will have time to adapt your offer to the new situation.
Fewer mistakes and fraud
Furthermore, automated systems reduce the risk of fraud or being affected by human error. With this, you will gain credibility in front of your clients.
The BI has various techniques that, combined, manage to generate greater profitability. You have from DSS tools (focused on supporting decisions) to softwares that analyze every sales history down to the smallest detail . To this we must add the advantages that we have already mentioned in the previous points.
Business intelligence in the switchboards
In the specific case of telephone service, Business Intelligence can be integrated in several ways:
- Connecting telephone systems with the company’s own information systems to achieve data exchange. This is achieved through an application programming interface (API) that allows you to access the information generated by telephony services and integrate it into corporate apps, CRM and ERP.
- Sending calls from mobile and web applications.
- Automatically generating tasks when receiving a call, such as the possibility of automatically opening a client’s file when they call.
- Sharing relevant data with the users through the different platforms, such as the waiting time to be attended . This point is very important, because nobody likes to wait, and less if they do not give any explanation.
Phases involved in decision making
Conclusion: BI is capable of separating straw from wheat and being left with only the data that is truly relevant to your company. Business intelligence can help you improve decision-making as long as you follow these steps:
Plan the project and objectives in detail. For this you will need to be clear about the resources you have, the cost and the execution time.
- Set up work teams.
- Collect relevant data.
- Classify the information.
- Analyze the data to be able to make strategic decisions.
- Exchange information.
- Control and monitor actions.
- Measure the results.
- Take corrective measures, if necessary.