The most important characteristic of a successful organisation is its growth potential. It can grow in size, capacity, output, and, above all, in revenue, covering costs and making a profit. This growth, often in several areas at once, is also present in the numbers. More and more data are being generated, which can become very difficult to keep under control with the traditional MS Excel spreadsheets. However, business intelligence and data visualisation can help you meet the increased demand and turn data into information.
There comes a point in the life of a well-established and successful business when low-cost solutions are no longer enough. But how do we know when it's time to change the gear?
The most effective way is to notice the signs! If the huge amount of data in your Excel spreadsheet is no longer "fitting", you can't make sense of it, the various patterns are not visible anymore, then it's probably worth considering switching to business intelligence (BI) and data visualisation tools. One indication of this data deterioration is reports not being produced or is being produced very slowly.
The culture of BI and data-driven decision-making in the organisation evolve hand in hand, one pulling the other forward. The greater the amount and accuracy of data, the more confident managers are in relying on database-driven analytics. But this requires an open attitude toward new solutions. If you have this in you, it is worth taking a step towards BI.
Companies that can see through Excel spreadsheets have an advantage in several ways, both in their position and concerning competitors. Various trends and patterns can be identified through data management and data visualisation. These can be of great help in data-driven decision-making processes.
It is important to emphasise that automated data collection and analysis can significantly reduce the time needed to plan. Thanks to the visual representation, the data is easier to interpret and the information easier to process. This is true for individuals and the whole organisation.
Regular reports and statements allow for identifying errors, shortcomings, and weaknesses earlier. In this way, major damage can be prevented and, in many cases, processes that have gone wrong can be "caught" in time.
The information that can be extracted from the data gives the company flexibility. Quick reactions are particularly important, as it is often not possible to think about a decision for days or hours, but rather to choose between A or B immediately. This is a significant risk due to time constraints but having data available at all times can help you make the right decision.
Implementing a business intelligence toolkit is easy. The first step is to define which data needs to be collected and analysed and create the data model of the system and the tools that will be used to make it available to staff.
The toolbox for business intelligence and data visualisation is very broad. Bixpert offers four solutions to four problems. Let's look at them!
MicroStrategy is one of the world's best-known data-driven analytics and mobility platforms, blending classic BI with mobile and cloud technology. It can be used to develop transformational applications that extract the maximum value from data and accelerate business processes.
Exasol is an in-memory analytical database that helps you get the most out of your data. With Community Edition, One and Enterprise Cluster versions, everyone can find the functions and options they need most. Exasol can serve every department, from HR to Finance.
Visual Crossing is a highly versatile location mapping platform that can be used to significantly increase the efficiency of business analytics. Its easy-to-use visualisation interface makes it simple to use and the results are extremely useful from a business and business development perspective.
Jedox has the advantage of simplifying the planning, analysis, and reporting process in an unprecedented way. It brings business intelligence and enterprise performance management together on a single platform in a way that is applicable and useful across multiple levels of the enterprise. Intuitive analytics, self-service budgeting, planning, forecasting, BI dashboards - Jedox!
When the time comes, don't hesitate, dare to innovate. Bixpert can help you!
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