Business Intelligence Services
How Our Business Intelligence Services Help:
With your existing platform or by implementing a new one, we’ll take the lead on configuring and customizing through defined metrics, reports, and dashboards so you can use your data instead of spending time collecting and cleaning it.
Recommend Technology Solutions: We’ll analyze your business needs and goals to recommend the technology that best serves your business. Not every business needs the latest name-brand Business Intelligence software, and our focus is on designing and delivering the best-fit solutions for your business.
Leverage Experience: There are no one-size-fits-all Business Intelligence solutions. That’s why we use our experience to avoid mistakes and customize the BI technology for your business. We know what will work best for your industry, company size, and business model.
Communicate Effectively: We understand how to bridge the gap between executive-level leadership and your IT team to find the best solutions for your company. As technology professionals and leaders, we’re ready to present ideas in ways your organization’s leadership understands.
Why 5P is the Right Partner?
As the business world has become increasingly competitive, companies of all sizes have had to step up their game in order to stay ahead. BI is a critical component of any modern business strategy. It enables organizations to make data-driven decisions, identify new opportunities, and stay ahead of the competition.
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Read more about our successes, and find out how we’ve helped other customers with real problems, real strategies, real results.
Competitive brands are more productive, produce quality goods, and offer top-notch services, and they thrive at exceeding customers’ expectations. While competition may not sit well with some, it’s healthy and crucial for business success.
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What is Business Intelligence?
Business intelligence (BI) is the combination of processes, strategies, and technology an organization uses to manage its real-time data. This includes collecting, storing, analyzing, and presenting data. Business intelligence gives you a snapshot of the current state of your organization. More importantly, you can use BI services and technology to transform raw data into actionable insights to improve your business.
Most modern forms of business intelligence refer to data management using robust technology solutions. These solutions provide user-friendly options for storing and reporting data. They also eliminate the need for manual reporting. BI technology lets anyone with access view, sort, and analyze the data.
For example, in the past, if a business manager wanted to see sales of a product for the current month, they would have to contact the IT team and ask for a report on current sales data. The IT team would then need to manually collect the data and create the report.
Modern solutions, on the other hand, often automate the collection and storage of important data. A business leader can use intuitive software to create a visually-appealing report quickly and efficiently without taking the IT team away from their regular work.
Should You Hire a Full-Time BI Analyst or Choose Business Intelligence Consulting?
Organizations usually have two options when implementing a BI strategy: Hire a full-time BI analyst or work with a consulting firm and a vCIO. Both can be beneficial to your business, so it’s important to carefully consider your organization’s unique needs.
You might want to hire a full-time CIO or BI analyst if:
- You want to add a permanent member to your organization’s executive team.
- You want to promote an internal candidate with intimate knowledge of your company.
- Your business relies heavily on technology and needs a CIO on a daily basis.
On the other hand, many organizations don’t need the expense of hiring a full-time BI analyst or new member of their executive team. Many businesses benefit from hiring a consulting firm to build and implement their business intelligence plan. Once your BI plan is in place, most businesses can work with a part-time or on-call vCIO to help maintain systems, get advice, and optimize the BI tools available.
Your business should consider a vCIO and BI consulting services if:
- You’re looking to save money over recruiting, hiring, training, and maintaining an in-house CIO role.
- You need an objective third party to advise your executive and IT teams.
- You want the scalability of a consultant so you can expand their role as needed.
- You want access to additional resources or tools from the technology firm.
- You need someone who can dedicate their full attention to BI strategy rather than running the IT department.
What is the process of implementing business intelligence software?
A good BI solution should support your organization through a structured process. From an implementation perspective, Business Intelligence is a set of processes, architecture, and technology used to convert raw data into meaningful information to drive profitable business actions. This consists of the following phases:
Will my business data be secure?
Data security and availability are key requirements for any IT system. A BI solution should match the same high levels of performance, reliability, and security that you expect of the other systems in your organization. Reputable BI solutions leverage existing security infrastructures to keep data safe.
What is the difference between business intelligence software and eRP (enterprise resource planning)?
BI solutions drive high-level discussions to make meaningful strategic decisions. These solutions can access all of your data, both strategic (revenue, profit, and growth), and operational (daily sales performance). This enables business leaders to analyze information to make decisions that support business objectives. An ERP however, is a system used to generate an exact operational view of your organization, often without trend analysis, data comparison, or insights generation. While BI solutions provide strategic analytics, an ERP solution provides transactional, operational analytics.
What are the benefits of business intelligence?
- Improves the ability to make decisions quickly
- Optimizes internal business processes
- Increases operational efficiency
- Helps drive new revenue streams
- Gains an advantage in terms of competitive markets with another close competitor
What are the 4 concepts of business intelligence?
- Collecting information from internal and external sources
- Preparing data for analysis is a visual format
- Running queries
- Creating intuitive visualizations, reports, and dashboards
What is the difference between business intelligence and data science?
Although they both involve analyzing your business data to provide invaluable insights, there is one key difference between business intelligence and data science. Business intelligence uses past data to make more informed decisions about current situations, whereas data science allows you to make more accurate predictions about the future.
How does business intelligence help in decision-making?
Business intelligence helps organizations take extensive unorganized data and gain insights about how their business operates. It will give your business actionable information to help you make better decisions across every area of business, including sales, security, accounting, IT usage, and much more. Likewise, it will help to boost outcomes in areas as wide-ranging as productivity, employee well-being, and customer satisfaction.