Doing business intelligently is what stands outstanding organisations out from the rest. Performing organisations rely on statistical data and take decisions based on conviction. Business Intelligence help organisation identify their weaknesses and opportunities for better performance. Identifying new opportunities and implementing an effective strategy can provide a competitive market advantage and long-term stability.
Business intelligence (BI) is a set of theories, methodologies, architectures, and technologies that transform raw data into meaningful and useful information for business analysis purposes. BI can handle enormous amounts of unstructured data to help identify, develop and otherwise create new strategic business opportunities. BI allows for the easy interpretation of volumes of data.
Today’s businesses are faced with several challenges but here are five challenges your organisation may be facing and the solutions to them.
5 Key Business Challenges
1. Execution not aligned with Corporate Strategy
- Corporate strategy not communicated clearly
- Individual objectives not aligned with strategy
- Poor measurement, and no corrective actions
2. Ineffective Decision Making Processes
- Decisions delayed, or made on ‘gut feel’ only
- Key stakeholders not involved
- Solid information only available to small ‘elite’
3. Increasing Competitive- and Market Pressures
- Lack of insight into markets and trends
- Opportunities frequently missed
4. Compliance Requirements
- Calls for transparency
- Increasing criticality of trustworthy data
5. Budget Constrains
- Need to do more with less, and need to justify expenditures
The iCentra BI Advantage
„ Enabling of accurate, faster and actionable information
„ Compliance with industry regulation thus mitigating business risks
„ Connecting Corporate Goals, Objectives and Strategies to an individual contributor level
„ Information Democracy and Self-Service
„ Predictive analytics and smarter applications to grow the business
„ Quick wins and faster Return on Investment
We deliver the complete, end-to-end, reliable and open BI solution, enabling the smart enterprise.
Contact iCentra Technology Team on +234 807 675 7797
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