What is Business Intelligence?
BI or Business Intelligence in the corporate world is the simply the ability to look at data in an organisation, examine it and use the results to improve corporate performance.
This is why growth is expected to rise from 38% of all organisations to 85% in 2014.
MXI sells BI or business intelligence software to companies who want faster data analysis, better sales forecasting or demand management. As there is less tolerance of bloated IT projects delivering nothing and costing two fortunes BI or Business Intelligence has really come of age.
Here are some simple examples of what business intelligence include.
1) What is my sales margin by product, representative, subsidiary, region.
2)What is my most profitable product.
3) What is my Quotation to Sales conversion ratio?
4)Who are my best worst customers?
Obviously far more sophisticated uses exist for Business intelligence projects.
Lots of this data can then used for better sales forecasting, demand management, financial modelling to reduce costs and increase profitability. Big company corporate IT departments are able to turn user requests around quickly and in most cases safely promote the direct use by Business analysists.
PRICES ARE BEING REDUCED ALL THE TIME.
Lately pricing is the biggest breakthrough. Low cost software is now available in 2011 which connects direct into ERP systems, SQL, ORACLE, SAP data quickly and graphical analysis so popular with end users and management. A quick surf on the net will confirm all this to be true.