Are you a business owner in Bahrain? Have you ever wondered if it is possible for you to get a deeper insight into the workings of your organization so that you can understand why certain things happen? If your answer to these questions is a “yes,” then you need to integrate business intelligence (BI) application software with your existing ERP solution. In this article, we will be discussing the four main functions of BI applications that can help you beat your competitors. Business Intelligence software applications analyze data generated by your business to identify patterns or trends. These applications then present those patterns in a visual format so that even users who are not familiar with statistical analyses can get an in-depth understanding of the performance of their business. This enables organizations to make informed decisions and implement strategies to take their businesses to desired success levels. Having said that, the four important applications of business intelligence solutions that help improve your organization’s performance are:
Sales Intelligence
It is important for those in charge of sales in an organization to possess negotiation skills. Sometimes, it is really difficult to move leads through the sales funnel and convince them to buy your products/services. BI software solutions enable the negotiation process by collecting data on customer demographics, sales metrics, conversion rates, etc., and presenting them in graphs, pie charts, etc. This helps your sales personnel to identify trends and gain deeper insights into business operations and customer behaviors. This, in turn, helps them negotiate in a better manner and ensure customer satisfaction.
Visualization of Business Intelligence software applications
State-of-the-art Business Intelligence software applications use a set of data analytics tools to analyze as well as manage data generated while running your business. They then present this data in graphic formats to allow you to monitor sales, logistics, productivity, and all other business functions. Besides, they allow you to specify the parameters to be included so that you can generate customized reports. When data is presented in intuitive visual formats, it becomes easy for you to understand your business better. This is because human brains process images many times faster than text.
Reporting
One of the crucial business applications of Business Intelligence software applications is reporting. As mentioned before, BI tools collect unstructured data, organize it into understandable information, and generate different types of reports, covering your business functions such as HR, sales, customer service, purchasing, and accounts, among others. You may think that data analysis and reporting are the same. However, they vary in terms of purpose, delivery, and value. While analysis involves gathering data, reporting helps organize data in understandable formats. However, they are crucial to improving business practices and monitoring performance.
Performance Management
Business Intelligence software applications software applications help you to monitor your progress towards the achievement of your business goals, such as project completion deadlines, targeted delivery times, and sales goals. For instance, the Business Intelligence software applications system analyzes historical data and suggests a reasonable target to strive for in the current month if you want to achieve a sales goal by the end of the fiscal year. Further, the BI application allows you to set alerts when you are getting closer to your target or if your time is running out. This helps you and your employees stay on top of performance achievement.
Zerone Hi Tech Bahrain
Zerone Hi Tech, a leader in providing software solutions and integrating data sources that offer deeper insights into your business activities, is a Gold Partner for Microsoft, Oracle, and LS Retail. Zerone also makes available a broad portfolio of on-premises as well as cloud computing solutions that include Microsoft 365, Microsoft SharePoint, Power Business Intelligence software applications, Azure, and cloud hosting services to enable you to take your business to its next level of success.