For a company looking to achieve all of it's potential, there needs to be a connection between sales, operations and finance goals. To align these goals, companies need a robust decision-making platform that integrates data analysis, simulation, planning and forecasting in a singular intuitive interface.
The gathering of data through a number of ways, from mining a company's computer data through software, looking at competitor data and industry trends to help develop a picture of where the company stands in the industry, where they can improve and where they can reduce costs.
A new focus is moving BI forward. Not only does this new focus include reporting, dashboards and analysis for smarter business decisions, but also performance management to drive profitable growth and predictive analytics to optimize business outcomes. In short, it is forward-thinking BI.
What is the difference between this BI and those solutions that are currently being used today? What takes BI forward? The answer to those questions is the use of predictive analytics to extend the value that BI data currently brings your business operations. When you extend BI, your company can:
- Beat the competition.
- Reinforce accuracy and confidence in decisions.
- Enrich the data discovery experience.
Allows your Organization to harness Data Disparities and give you a data visualization tool that displays the current status of metrics and key performance indicators (KPIs) for an enterprise.
a) Connect data into a single depository with graphical interface that correlates patterns across multiple metrics that provide both a summary & in-depth view of performance.
b) Improve Collaboration Across Organization
c) Real time daily numbers available that provide for actionable insights that help:
d) Speed up decision-making
e) Track performance indicators
f) Track performance outcomes
g) Increase ROI
5 KPI’s examples
1. Employee Safety by location
a. Recordable incidents
2. Product Quality
a. Produced/budget cost vs spent cost or hrs spent
5. Employee Engagement
a. Idea’s/suggestions from employees - implemented