3 Things To Remember About Business Intelligence
Business intelligence is basically the process of taking raw data and refining it to create applicable strategies for management of the enterprise. Historically, this was done imperfectly by scribes and clerks using ledgers and paper spreadsheets that their boss looked over and used to decide what to do next. Today’s technology takes the data from ledger and spreadsheet to a depth of analysis that boggles the mind. All sorts of information can come into play, from POS to KPI and end to end. In order to refine that mass of data successfully with business intelligence reporting tools , there are at least three things to keep in view:
- Data needs to be your own data if it will used for specific solutions. This is because what works for most might not be the best for your particular enterprise, or for application across all departments.
- Data needs to be historical and current so you can compare the past to what is happening now. This allows you to identify trends and figure out what happened in the past or which factors have affected change.
- Data needs to be able to be broken down in different ways. By allowing user-defined categories to be shown in the form most helpful to those analyzing the information, various processing styles are enabled for maximum participation and effect.
The best way to collect, access, and analyze data is through a business intelligence reporting tools that is part of an integrated retail management system. This allows all the threads of information from every aspect of the business to be utilized fully. ChainDrive’s Retail Analytics is the built-in business intelligence tool that provides all three of these important factors in decision making. You will be able to analyze your own data in real time and compare historic data to current without a hitch. You will be able to do that analysis with pre-configured reports, dashboards, pivot table queries and graphs or opt for customized variations with the help of your support team.