What Are The Impact Of Bi Tools On Business Performance?

By Author: Bappaditta Jana
Total Articles: 51
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One of the toughest challenges that most organizations experience is low performance. This challenge becomes daunting when despite making the best of the efforts, employees don’t feel motivated to meet the organization's goals. Dig deeper, and it becomes apparent that this happens because of the limited access to vital information. Moreover, if they have easy access to required information, too much time gets wasted in making out any meaning of the information presented in countless rows and columns of business reports. Here, comes the BI tool to impact an organization in a positive way i.e. by boosting their overall business performance. Let’s find out how it does the same.

Timely access to information

BI tools have user-friendly dashboards that are highly readable. With these dashboards, employees and key decision-makers don’t have to wait for an eternity to access the required information. Instead of making any speculations, they can now access key performance metrics, cash flows, stock in the inventory, most and least sold items, and much more. The quick and timely access to information paves the way ...
... for accurate decisions and improved efficiency. These decisions are now driven by data, and there is little room for any guesswork. This raises the morale of employees, and productivity goes up.

Actional business insights

A business could not survive if it does not have rare actionable insights. Such insights help in sustaining in a highly competitive environment. BI tools offer such insights in a readable form. There is no need for any technical background to understand the insights offered by an effective BI tool. Just by a mere glimpse, employees can know the market trends, the pattern of changing customer behavior, the exact volume of present sales, pricing position, and much more. Armed with such knowledge, things become easier, and all the despair because of low productivity disappears. This creates a positive work environment where all the employees and key management professionals work towards devising and implementing strategies to increase the business performance.

Reporting automation and auto-scheduling

There is no doubt in the fact that manual report generation is repetitive. It is this repetitiveness that makes the task highly prone to mistakes and consequently inaccuracies. Once made, these inaccuracies can have a profound impact on the key business decisions as decisions based on inaccurate reports are bound to yield poor results and hamper the overall business performance. However, a BI tool eliminates this risk by automating the task of reporting. Moreover, some of the BI tools also ensure auto-scheduling and customization of reports. This feature of the BI tool also saves precious time for the staff engaged in report generation tasks.

In a nutshell, business performance is not something that can be boosted without looking at all the aspects of an organization, but choosing the right BI tool can make a remarkable difference in the long run.

Bappaditta Jana is a blogger who loves to spend his free time engaging in sports or gardening. Based in Kolkata, he is currently working with EasyReports an IT firm that has developed a BI reporting tool that can easily integrate with Tally ERP and many other applications.