48 hours of video appear every minute on YouTube while 571 new websites appear on the Internet. Every 14 months, the amount of business data doubles at a global level. It is a fact that companies are faced with large amounts of data that is extremely difficult to manage. By some estimates, inappropriate data processing costs a company between 20% -35% of operating profit *.
In order to extract all the relevant data from the stored ones, companies need a solution for business reporting. Business Intelligence solutions ensure filtering, processing and presentation of business data in a simple, accessible way, which can be used to take informed decisions. Thanks to a thorough review of past and current operations, these solutions enable prediction of future trends. They are extremely easy to use as they are an upgrade to the existing IT system of the company, and it gives all the people who are part of the decision-making processes a clear picture of what is happening in their business. BI systems can be implemented in any company regardless of its size or field of business.
The most significant benefits of using BI software are:
- Centralized management of data from different sources;
- The possibility of analyzing data from all aspects, according to different criteria;
- Improved planning and control;
- Information on key performance indicators in real time;
- Saving time in the preparation of reports;
- Control of information when making crucial decisions;
- Improved internal communication;
- Clearer overview of the market, identification of trends, opportunities and potential threats.