Top Benefits of BI in Resource Management

Are you an entrepreneur keen to manage your business resources efficiently?


If yes, it is time to embrace business intelligence (BI) as it offers various benefits that can help you to have the best value out of your existing business resources. BI tools are now available for start-ups and small businesses at reasonable rates. So, let’s explore the benefits of BI in resource management.

Facilitates data-driven decision-making

 

Imagine the sheer joy when you can enjoy real-time insights about the availability of your resources and their utilization! With a BI-enabled tool, you can have such insights effortlessly that will help you make data-driven decisions about course-corrective measures without wasting time. For a better understanding, suppose that if you can have real-time insights into the number of extra supplies required to manufacture a product, what can be the benefits you will reap? You will be in a better position to make decisions about any further purchase of supplies to prevent any delay in manufacturing.

Offers easy access to customized reports

 

As said before, BI offers insights in real-time, and these are in the form of reports that are customizable and easy to access. In these reports, data is represented in charts, graphs, gauges, and so on that makes it super easy to comprehend the data. Moreover, as these reports are customized, your resource manager can easily create reports according to his specific requirements. For example, he can instantly create reports to know the resources that are included directly in the project cost and the resources that are included in the overhead costs of a project.

 

Aids in preventing resource bottlenecks 

 

Sometimes, despite the best efforts, a project is delayed, and the reason is the presence of a resource bottleneck. This scenario happens mostly when the resource manager uses guesswork to create a resource plan leading to unnecessary delays. For example, you are about to complete a project that demands a specialized skillset, and one or two of your project team members take a leave of absence due to illness or unforeseen circumstances. In such a case, the resource bottleneck will be a shortfall of human resources. However, the powerful analytics of a BI tool not only aids in the quick identification of resource bottlenecks but also prevents them from causing a last-minute delay and loss of revenue.

Helps in accurate forecasting 

 

If you can forecast the project demands, like the kind of skillset it needs, it becomes easier to evaluate whether the existing resources will meet the project demand or not. In case of a gap, you can do upskilling of your employees or even go for hiring. With a BI tool, you can bridge the gap between demand and supply and thus can ensure efficient resource management.

In short, BI offers valuable insights quickly and enables key decision makers within an organization to access them to aid in successful resource management. EasyReports is a BI tool embraced by many businesses across the globe to meet their varied requirements like auto reporting, auto-scheduling, resource management, profitability enhancement, and so on. The best thing about EasyReports is that it is available for a no-obligation trial and can be easily integrated with several third-party software. 

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