Purpose Of Business Intelligence System — Business intelligence (BI) is a set of tools used to collect data and transform it into actionable insight. Business intelligence helps to measure business performance and is essential to identify opportunities for improvement. Ultimately, taking a quantitative look at your business will help you make the decisions that will have the biggest impact. However, according to PwC, “61% of C-Suite leaders or VPs say their company’s decisions are data-driven or very rarely.” Incorporating BI into your organization’s regular operations can lead to five beneficial outcomes. This is the final post in a five-part series defining Spur Reply’s unique perspective on the often overlooked but incredibly valuable world of business operations. Part 1: General Business Operations Part 2: Strategic Planning Part 3: Operational Design Part 4: Initiative Implementation Part 5: This blog focuses on business intelligence. Teams often struggle to understand how their efforts impact the business or the goals of the larger organization. Team goals are great. But without many following it, it is difficult to measure success or failure. BI gives employees the opportunity to understand and contribute to the larger organizational goals and, ultimately, the overall health of the organization. Powerful analytics tell your business story through measurable facts and data points. We once worked with a client to establish a charter and metrics for the organization. We selected metrics that connect to company goals and help teams understand their contribution to overall goals and business health. The client learned more about the success of certain initiatives, which allowed the client to better communicate the team’s mission and goals when implementing the updated charter.
