3 Ways to Empower Decisions through Business Intelligence Dashboards

3 Ways to Empower Decisions through Business Intelligence Dashboards

Are you keeping up with pace of information around you? None of us probably are, but we can still outpace our competition with the right technology.

Living in the information age is incredible. Data is growing exponentially and the flow of information is accelerating. In the past it took long studies to do data analysis and requesting reports could take days. Where our decisions use to only be based on past information, today we can get snapshots of the present as well. All this is possible using powerful business intelligence and analytic technology such as Qlik or Power BI.

Here are some reasons why it is essential that you incorporate this technology into your business:

  1. Speed to reporting

With intelligent dashboards, you can quickly see a high level view of the business, or drill down to a granular level in an instant. The need to ask others for reports reduces dramatically. Before the reporting genius has time to get up and come hear you out, you already have the information from multiple sources in front of you. This keeps you up with the demanding speed of information while saving you time and money.

  1. Easier to discover hidden correlations

Being able to start analyzing data and trends instantly, allows us discover deeper and sometimes hidden correlations. For example it can be difficult to see the correlation between movement of volume and your average delivery time. This information also comes from different sources. With powerful business intelligence technology, you can drill down to high demand days, filter on product type or courier service for deeper insight. The freshness of each snapshot increases probability of seeing hidden correlations.

  1. More time for decision making

In the past, by the time you get your requested report, many opportunities for intervention have been lost along with the best possible time to act. Today you can be prepared much quicker and allow more time to make more effective decisions. For example you can detect a low stock level for a product that suddenly has a large order placement. Simultaneously you can also see your current average delivery time. This information combined being immediately available, allows you to act decisively.

(Bonus) 4. It is fun and sometimes addictive

You can lose yourself running multiple reports to catch everything. It is so easy to do a new analysis to enrich your presentation that you can spend hours applying different filters and focuses.

If you want to know more about business intelligence dashboards and how you can effectively run reports and make better decisions, contact Marius at marius@fortyone.co.za.

DEMO:

Feel free to play with a demo dashboard here.