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December 17, 2020

Business Intelligence Tools: The Keys to Consistent Growth

Business Intelligence (BI)

We are now living in the information age, or as some would call it, the Information Revolution. It is the next step to the technological developments that have progressed at such a rapid pace in the past few decades. The Internet is the age’s primary driving force: it has now become so ingrained in our daily lives that even people who stay offline are inevitably affected by what’s going on in the cyberworld.

Data is everywhere, but one has to collect, filter, and assess information to maximize it. At least this is the way things are in business. Information has become a valuable commodity and one that many would pay good money to acquire.

Business Intelligence: Why It Matters

Business intelligence is not just data. It also refers to the strategies and technologies businesses use to collect and analyze data. The goal of business intelligence is to inform decision-makers and enable them to make smart and strategic business moves. With ample data, businesses can also track and predict organizational trends, and use the information to strengthen their business plans.

Recognizing the importance of integrating business intelligence into corporate infrastructure, Oracle provides its clients with one of the most useful tools today for data gathering and analysis.

Fostering Growth Through Information Mining & Analysis

The Oracle Business Intelligence (BI) Applications are centralized and integrated into an organization’s databases and administrative platforms like Cloud ERP, EIP, and customer experience products. Essentially, Oracle BI monitors, measures, and offers ways to improve performances across the board (e.g., by departments, products, and services).

Users of this cloud-based tool can enjoy the following benefits:

  • Reliable documentation
  • Easier internal data exchange and reporting
  • Improved data quality
  • Fast and accurate reports generation
  • Improved decision-making
  • Smarter business planning
  • Easier and faster discovery of market trends
  • Higher operational efficiency

When used optimally, business intelligence can improve all areas in a business operation:

  • Operations – BI helps pinpoint problem areas and provide the metrics those departments or project managers can use to measure their improvement.
  • Sales – The improvements in departments or projects can have a positive impact on sales (i.e., it’s easier for salespeople to sell products and services when they have concrete data like delivery rates, customer satisfaction scores, and generated sales to show to prospective clients).
  • Product Development – With BI integration, you can conduct competitive analysis, budgeting, and forecasting. These lay the groundwork for developing new products and services that will appeal to your target market.

Business intelligence, in general, empowers businesses to improve product, service, and customer service quality. Customer satisfaction and loyalty would naturally follow.

Using Business Intelligence to Satisfy Customers

Happy and loyal customers who don’t have second thoughts about buying your products or paying for your services are crucial to a business’s growth. Attracting new customers is good, but having a core market that’s loyal to your brand is more sustainable in the long run. Businesses should, therefore, build and nurture relationships with customers.

Again, data is everywhere; and when you know what to do with it, it can also give a blueprint of where your business can head to next. You only have to use Oracle BI to discover the information hidden in your data. This is how you achieve consistent growth and sustained success.

Learn more about Oracle BI and its potential role in your organization at eVerge Group. We provide on-premise and cloud-based enterprise solutions to companies from different industries and have been in this industry for over 20 years.

Get in touch with eVerge Group today.

Business Intelligence Tools: The Keys to Consistent Growth

December 17, 2020

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