“Data is the new oil.” Heard that one before? Well, it is true that there’s value in all sorts of data – but how valuable your data is to you, depends on how you use it. That’s where we come in.
Ok, so that quote does tend to refer to personal data and big data, but the fact is that your operational data can hold the key to new levels of efficiency and strategic breakthroughs. Our Business Intelligence solution enables you to unlock the potential held within your data.
What is Business Intelligence?
Also referred to simply as ‘BI’, Business Intelligence as a service is the analysis and connection of data from a range of sources to optimise performance and provide input for your key business decisions.
As with all organisations, you will have access to your operational data, but the reality is that many do not realise or utilise the true extent of its power. We can show you how to use data to your advantage, in ways that your competitors probably do not.
To provide this service, which is now part of our Air IT group offering, we have a team of business intelligence experts at your disposal – something that SMEs or membership organisations typically do not have access to in-house.
Our Business Intelligence tools enable you to manage and interpret data, then provide you with actionable intelligence in the form of analysis and visual dashboards.
Why should I use ‘BI’ on my data?
Well-informed decisions usually work out best, right? But how you treat your data and how you use it will determine how informed you are. Relying on spreadsheets to record data is pretty common in business, but it has a number of drawbacks.
The collating of data is usually subjected to delays – meaning that it is not current. Additionally, the spreadsheets tend to be populated manually by multiple departments with little co-ordination and using various, potentially conflicting sources. This makes them prone to error.
Acting on your most important data that is both out-of-date and may contain inaccuracies, is less than ideal.
Our Business Intelligence gives you the ability to analyse datasets from all departments and create one-view business performance reports for users. Our Business Intelligence solution will provide your users with a variety of reports, graphs, charts and summaries.
The detailed insights that our BI solution offers on the health of your business, allows you to make those well-informed business decisions.
How does ‘Business Intelligence’ make more of my data?
Our Business Intelligence solution offers a sophisticated analysis of your data, using the latest technology – so that you can get more out of ‘the numbers’.
Traditional analytical methods tend to be fairly limited, using projected line graphs, for example. These make simple, ‘line of best fit’ predictions which can be helpful but ultimately don’t offer the insight that data can potentially provide.
Our BI solutions provide more accurate and nuanced information created through predictive analytics and machine learning.
What does that mean? Well, with Business Intelligence, you’ll be able to interpret complex data in new ways. BI looks deeper, identifying bias and making connections between datasets that traditional methods wouldn’t achieve.
How else will I benefit from ‘BI’?
Business Intelligence delivers your ROI in various ways. For example, an organisation can find it difficult to define and measure those key performance indicators (KPIs) that improve their success and effectiveness.
This is particularly true if you’re looking to measure performance across a range of factors such as value, results, customer satisfaction, inclusion, participation, health and wellbeing, and lifestyle – what does success really look like for your organisation?
With BI, these measures are easier to identify and track, and from there, you can work out ways to improve them.
How can Riverbank IT Management help?
Our business intelligence experts employ best-in-class tools, like Microsoft Power BI – which may already be part of your Microsoft Office 365 subscription, to bring all your key reporting data together in one powerful interactive report, giving you a single accurate view of your business’s performance.
For more information on our Business Intelligence solution and how we can help you, contact Riverbank IT Management Oxford on 01235 426700 or click here.