5 Benefits for Companies of Working with a Business Intelligence System

Business Intelligence (BI) systems help companies address one of the main challenges nowadays: the huge amount of data, which, in its raw form, is difficult to apply to business development and optimization.

Business intelligence systems are software tools that aggregate, unify, analyze, and visualize data from various internal and external sources.

BI software organizes information according to specific patterns and trends presented as reports, dashboards, and visualizations.

According to a recent BARC survey* on BI solutions, the main benefits of business intelligence software are improved data quality, faster and more accurate planning, data analysis, and reporting.

Read more: Business Intelligence software- what, for whom and why

Top 5 benefits of BI systems

Five key ways that BI can bring added value to an organization are: 

1. Making informed decisions

BI systems provide timely and accurate data access, enabling informed decision-making based on a thorough understanding of correct business data.

2. Increased operational efficiency

BI tools help optimize business processes by identifying inefficient ones, improving them, and facilitating data-driven decisions to increase operational efficiency.

3. Improved data visualization

BI platforms offer advanced data visualization capabilities, helping to make complex information more accessible through interactive dashboards, charts, and graphs.

4. Improved strategic planning

BI supports strategic planning by providing a comprehensive view of key performance indicators (KPIs), market trends, and competitor information, allowing the company to align its strategies with business objectives.

5. Gaining a new competitive advantage

By using a BI solution, organizations gain a competitive advantage by having faster access to correct information, making timely decisions, and a better understanding of market dynamics, customer behavior, and industry trends.

The benefits of working with business intelligence are many more and are directly tied to the company’s goal of implementing a BI solution.

Read more: What is the price of a Business intelligence software [Part 1]

Balkan Services is Bulgaria’s leading BI solutions integrator with a 30%* market share. We have successfully completed over 440 BI projects for over 120 clients in industries such as retail and distribution, manufacturing, finance and insurance, etc.

We implement the leading BI solution, Qlik Sense.

At Balkan Services, we have an expert business, technology, and legislation knowledge and are fluent in all three languages. We will listen carefully and advise you on choosing the right business system for your needs.