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Most organisations start with business intelligence in order to fully understand their historical data, which can be presented in the form of charts, tables, diagrams or dashboards, also known as data visualisation.

Processing constant information and data trends can become a complicated practice, and so many businesses use data visualisation to create more easy-to-understand formats. These often include colours, shapes and patterns due to the human eye being drawn towards these types of visual art.

IBM Cognos Analytics, the Business Intelligence Solution

With businesses and companies continually using technology and systems to gain a competitive edge, BI has become a common buzzword amongst company executives who are curious and keen to familiarise themselves with it. But the question is, across how many business departments can it be utilised?

Senior Management: Senior Management often require up-to-date data and information about company performance and this is where BI comes into its own, through customisable dashboards senior execs can quickly access reports to help spot trends, develop strategies and make important business related decisions

Sales: Sales Managers need to keep their team updated with the latest detailed information relating to customer analysis and buying patterns, this vital information can make a huge difference when highlighting new sale opportunities. BI is instrumental in providing this information in a clear and concise way, it can identify sales by region, team or individual and will help senior management pinpoint any drops in sales or performance.

Marketing: Within a marketing department, BI can be used to reveal trends and help improve campaigns. Once a campaign has ended it can be easily assessed and its successes evaluated. This accurate information can then be collaborated with other teams and departments to improves future campaigns, offers and processes.

Finance: Healthy finances are the heartbeat of any company and so the ability to generate accurate and detailed statements is paramount to future success. Finance Managers and company accountants need to have this information at their fingertips in order to effectively analyse P&L and cash flow breakdown.

Operations: Managing inventory and warehouse stock is essential when looking to cut costs and avoid any major losses, BI is extremely efficient in helping to streamline inventory management, providing information on current stock levels and sales history of any given stock item. This also allows procurement teams or purchasing managers to manage stock levels ensuring that customer demands are met but also that overstocking does not occur.

Self-Service Business Intelligence (SSBI) is a comparatively new BI methodology that allows less technical end-users to obtain data analytics information and do more with it despite not having the skills normally associated. Many technology companies across the world have adopted the ‘make Business Intelligence an easily integrated tool’ approach to allow end-users to analyse data, make decisions and plan/forecast without the need to rely on other internal teams.