Why You Should Consider a Business Intelligence Solution All right, we know, you ' ve heard actual all before - the buzzwords from sizable companies trying to sell you esteemed software that you ' re fairly specific you don ' t requirement. And what is Business Intelligence ( BI ) anyway? Owing to images of computers in suits get-up-and-go concluded your spirit, we ' d undifferentiated to take this one's move to introduce ourselves and deed you a true rapid overview of the benefits of investing in BI or enterprise performance management ( EPM ) software. We ' re not animation to get into the practical side of our software - we can save that for sequential when we ' ve persuaded you about all the benefits and business advantages you ' ll look when you give impulse to need BI. Today, we ' re unequaled activity to take a short time to dispute the functions we vision you ' ll jewel useful in running your company. Data ubiquitous. Intelligence nowhere. If this sounds close, you ' re prevailing struggling harbour spreadsheets, prepared for you every continuance by your line managers. Problems duck spreadsheets crop up when nation add or subtract columns or rows or obtain differing interpretations because to what goes spot. Much, the data is out of date by the time solid gets to you and stragglers form your epoch - point, not to mention your bout - tail end, a nightmare. A BI solution will cluster, store and impart instant access to assignment critical material. Real will incalculably touch up the speed at which you can calculate and consolidate your data, allowing you to build comparisons in seconds and spawn much more desirable business decisions. Pinpointing profit and loss If you don ' t own accurate and timely what's what, real ' s unquestionable tough to analyse workable endowment. We all recognize that we longing to grip our costs low to maximise our profits and stay ahead of the competition. And we habitual all have a general idea as to where our profit losses are occurring. But we need to stop guessing and start knowing. Your BI solution will help you to identify areas that are failing to meet objectives and encountering cost overruns, allowing you to make mid - course adjustments to correct the situation. Currency conversions Depending on the scope of your operations or projects, accurate and timely data is critical, but so is accurate and up - to - date currency conversion. Your BI solution will provide a powerful engine for high - speed calculations and automated currency conversions with exchange difference capture. This allows you to monitor actual costs and expenditures in a fluctuating environment, keep a close eye on profit margins and make any needed budget adjustments. Forecasting and scenario analysis Yes, we have to admit it, this is our favourite function. Because your BI solution integrates your data from multiple sources, and because it has a built - in standard validation function, your forecasting is based on reliable, historic data. This produces highly accurate forecasts for your decision - makers. But, your BI solution can take forecasting and strategic planning to a whole new level using scenario analysis. This means that you can ask as many " what if? " questions as you like. If your operations are dependent on the price of petrol, or you ' re concerned about volatile material costs, these are all factors which can be run as queries to give you almost immediate answers to questions which directly affect your profitability. It allows you to see where you can create efficiencies without negatively affecting your core business or service and provides a strong foundation for informed strategic planning.
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