Client records, files, cases, accounting movements, suppliers, or any other internal activity contain data that, when interpreted, help answer inherent questions about the office or firm and the environment in which it operates.
Management software or tools like Excel allow for data analysis; however, they have defined limits that condition the possibilities of data capture, integration, relation, and visualization.
The most advanced and systematic level of the analytical process they offer is what is called business intelligence (Business Intelligence or BI).
In-Depth Research
The inability to access real-time data stored in different devices or locations, or that have different formats, along with the limitations in visualization tools, makes management software or Excel restrict the ability to have a truthful, clear, and complete view of the activity, narrowing the types of investigations that can be carried out, and consequently, the responses that can be obtained.
Business intelligence is a collection of processes and tools that expand and optimize the collection and analysis of data from multiple internal sources of the office or firm, in order to convert them into useful information for a more detailed view of the activity, taking into consideration its unique and specific characteristics.
Interacting with Dynamic Reports Instead of Managing Cells and Formulas
The difference between using management software or Excel and business intelligence lies in the way of interacting with the information.
Instead of manipulating elements or depending on predefined functions and charts, business intelligence provides access to tailored reports to answer specific and concrete questions about the office or firm and its clients.
Reading customized reports is faster, more direct, and effective than navigating through a spreadsheet, and the ability to activate filters for selections or comparisons allows for deeper analysis.
With business intelligence, data is presented in a visually clear and compelling way, ready to be converted into useful information.
Asking to Understand
The goal of business intelligence is to provide the information that the user needs to find answers.
This means that the first step in implementing business intelligence is to define a specific question or hypothesis about the reality of the office or firm.
Next, a specialized technician in business intelligence organizes the data, configures the data capture system, and creates the customized report tailored to the initial question.
The user uses the report to access the information that helps answer their question.
Business intelligence is scalable with the needs of the user and the office or firm, allowing for new questions or hypotheses to shape the report accordingly.
Find Your Answers
If you want to implement business intelligence solutions in your office or firm, get in touch with us.
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