Understanding Business Intelligence (BI) and its Benefits for Your Business

news.dolanyok.com – The term Business Intelligence (BI) is still very foreign to many people. In fact, this is a very important part of the business world, especially with regard to consolidation, analysis, storage and access to a lot of data that is very necessary for business. With these various processes in business intelligence, you can make decisions that are very meaningful for the future of your business.


The existence of business intelligence allows businesses to process, analyze, store and access business data using technology.

In fact, business people have directly taken advantage of business intelligence (BI), they’re just not aware of it. Examples of business intelligence can be seen from company activities in an effort to establish relationships with customers by utilizing CRM approaches and applications. This action is actually already included in the utilization of business intelligence. In practice, examples of the application of business intelligence in companies can also be seen from the use of online transaction processing (OLTP), which is very often used today.

When you have to assess the feasibility of running your business, you need technology that can accommodate this assessment. The technology that you can use must fulfill all aspects of processing, analyzing, storing data, and accessing data. If all of these aspects are met with the technology used, then you have actually taken advantage of this.

Definition of Business Intelligence (BI)

Business intelligence is a business process that utilizes special technology to be able to analyze data and present this data as a form of information that is easy to understand for business purposes. The resulting data will be very accurate so you can make better business decisions. For the current example of Business Intelligence, of course, it has utilized a modern technology base, namely the use of cloud-based technology for business.

That said, the most important thing in business intelligence is that it can cover all the systems a company uses to get the information it wants to know. For example, to find out marketing performance, analyze customer management, stock taking management, to positioning in the business. In fact, this process is needed to find out various things about consumer behavior.

Benefits of Business Intelligence (BI) for Business

If viewed from its understanding, BI has extraordinary benefits for companies. The most important benefit is explaining about a concept and method to improve the quality of business decision making based on data-based systems. Business intelligence provides a raw set of data that can be turned into information. To do this, you have to analyze the data and organize it based on the relationship between the data you want to collect and the context of the information you want.

In addition, there are many benefits of business intelligence for business. Some of these benefits include:

  1. • Increasing the value of data and information that the company wants because data and information can be integrated.
  2. • Facilitate in drawing a conclusion from the business situation that is easy to access and understand.
  3. • Helping managerial parties to make better and wiser decisions.
  4. • Helping in deciding what to do for businesses in the midst of a crisis.
  5. • Facilitate measurement of company performance with Key Performance Indicator (KPI) benchmarks.
  6. • Demonstrate KPI achievements easily, quickly and precisely.
  7. • Prepare steps to anticipate if there are indicators indicating a problem, for example the target is still far from being achieved.
  8. • Increasing the value of existing information technology investments used by companies.
  9. • Increase cost efficiency
  10. • Accelerate labor in doing work so that it saves more time.
  11. • Allocating as company owned resources more accurately.

BI has become an integral part of the enterprise system. You also have to start integrating every system in the company with this process-based technology. BI requires data as indicators and variables for data processing.

For example, company financial data, so it is very necessary for you to have accurate financial data. The trick is to use the Harmony Accounting Software. Information from accurate financial data will of course maximize the use of business intelligence for your business. Come on, register now here, to enjoy FREE Harmony Accounting Software for 30 days.

You don’t want to bother taking care of your own company’s bookkeeping? You can use the services of Harmony Accounting Service, financial reports will be available every month. Expand your insight and knowledge about the latest financial information through Harmony’s Facebook, Instagram and LinkedIn accounts.