How BI Enhance A Company Processes?

If you ask an entrepreneur the meaning of business intelligence, there may be uncertainty about its definition, but one thing is sure. It is becoming increasingly


difficult for entrepreneurs to ignore its advantages in a company. Today, even startups and small businesses are leveraging the technology as many BI-driven tools are now affordable.

There is no doubt that the adoption of business intelligence is helping businesses to make the right decisions and that too promptly. However, it does more! It enhances a company's process. Within a company, several activities are done simultaneously. Some of these are recruitment, accounting, market research, and more. Now, have a look at the ways BI enhances these processes.

Accounting

Accounting professionals often commit mistakes due to data entry errors as entry is made manually, and such mistakes prove costly for a company in the long run. However, the need for manual typing gets eliminated as many of the BI-driven tools allow automation of the reporting task. Today, accounting professionals around the world are making use of business intelligence (BI). This is just not only to ensure accuracy but also to increase their productivity. BI also enhances the accounting process by providing rare business insights in an intuitive dashboard! These insights often get lost in the maze of rows and columns of traditional reports.

Recruitment

Business intelligence also improves the recruitment process by giving the recruiting professionals easy access to real-time data and data analysis. With such an advantage, they can keep track of the performance of each of their job advertisements. This also allows them to focus their budget only on job sites where the advertisements are performing well. Moreover, with BI, recruiting professionals or the HR department can also attract more candidates by determining the number of people viewing their job advertisements and tracking the performance of those who are already employed in the company.

Market Research

To get critical information about your business landscape, conducting market research is absolutely essential. Over the years, it seems that business intelligence has fared well in providing customer insights. Market researchers can know the products preferred by the customers during a given timeframe. In short, BI helps in identifying customer buying trends. Thus, it is helping the market researchers to understand the behavior of their target customers or audience. Having such insights means more effectiveness in marketing efforts.

 

Thus business intelligence enhances the various processes of a company and offers the best return on investment. The best part is many BI-driven tools are now available for a no-obligation free trial! EasyReports developed by a Kolkata-based Indian IT firm is one such remarkable BI tool.

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