Advantages Of Automated Business Intelligence

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11 Key Benefits of Automated Business Intelligence Automated business intelligence makes it easier to mine helpful insights from raw data. For raw data to be useful, it has to be turned into information. People have to see patterns, trends, and key performance indicators. Great business intelligence tools draw insights from raw data cheaper, faster, and better than the competition. How to automate your business is a question all companies are asking in 2017. Companies who want to automate need to use data effectively. Here are 11 advantages of automated business intelligence. 1) You Can Upgrade Productivity Many organizations waste time looking for the data they need. According to a McKinsey report, 60% of executives feel that a lack…show more content…
The purpose of business intelligence is two-pronged: to make data extraction easier, and to mine better data. 6) You Can Boost Data Visibility in Your Organization Silos are a dangerous thing in business. Just ask Sony. The successful Japanese conglomerate had a hardware department, which contributed products like the Sony Walkman. They also had a software department, which held their music licenses. These two organizations didn’t share information. They even competed against each other. The Ipod revolutionized the music business. At the turn of the century, Sony was in a better position than Apple to make a game-changing product. They released digital players in 1,999, yet they were doomed out of the gate. The music side of their business was worried about piracy, and hampered the products. Apple filled the hole in the market, and they’ve gone on to become the most valuable brand in the world. Organizations not working together isn’t something that only happens at Sony. Data silos are a problem in many large organizations. Each section has their own goals, priorities, and aspirations. Sharing information between groups is often left undone. This is especially true when sharing is difficult. Automated business intelligence makes the process easier, breaking down…show more content…
Here are some popular tools businesses use to spy on their competitors. Google Alerts- They tell you when a competitor is mentioned online. Sprout Social- It lets you look up your competitor's tweets. Google Keyword Planner- You can use it to find competitor’s keywords. SpyFu- It allows you to find the keywords your competition is targeting with their ad dollars. Alexa- You can see the global rank, links, traffic, and more of competitors. Those tools are only the tip of the iceberg. There are dozens of effective tools you can use to get data about your rivals. There’s so much info out there. Yet, data is only good as its accessibility. You have a handful of rivals, and you want to easily compare and contrast notes. Business intelligence organizes data, helping you mine useful nuggets from it. 9) You Can Pinpoint Cross-Selling Opportunities Data does more than help you get the jump on your rivals. It also lets you collaborate with businesses in your industry. For instance, BMW and Louis Vuitton collaborated together, even though it didn’t appear to be a good fit at first. After some research, both companies realized they are luxury brands in the travel industry with a history of great craftsmanship. Their customer base

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