Whether its sales people performance i.e. how they are meeting their targets or if they get new orders / sell new products and if orders really materialised and uncover promotion and sales fraud. In the operations Business Intelligence uncover cost leakages, optimisation, deeper / drill down to atomic level to recover buried revenues, smooth line processes. In manufacturing raw material, inventory optimisation, pricing trends etc and purchase intelligence trends and in-depth analysis on when to buy and stock based on historical trends. In health care wait time, drug utilisation, pharmacy analytics, drugs capture rates and patient care metrics.
Basically Business intelligence is the starting point to move to advanced analytics, Predictive analytics, need for Data science and big data. Business Intelligence give the road amp and direction to companies in their quest for information needs and perfection. Therefore business Intelligence should be the platform / baseline to move forward for advance analytics.
What are main features of successful Business Intelligence?
1- It should be automated.
2- Tools should be simple, there should not be repetitive steps and a single version of truth.
3- Elimination of Manual processes, as long as they exist business intelligence will fail.
4- Presentation layer must be comprehensible and self-explanatory i.e. if end users like top management want to see how these final numbers are calculated, they should be able to uncover easily.
5- Business Intelligence is now a mature subject and it should be treated as functional area like finance, marketing, operations; law.
6- Business Intelligence should not only be just numerical values and graphs, but a comprehensive over view / big picture of the organisation. It should be communicated in a remarks / comments formats.
7- Any piece of business Intelligence should be presented in a connected format like from overall perspective for example if management is interested in average costs by different phases and by different department. They should be presented with these figures with in time dimensions like what’s happening now and what was happening over some period, in trend manner as well as if what is happening elsewhere
8- ERP Software may show the day to day operations but Business Intelligence is value addition on the stored data like trends. For example we may have the information like how machinery parts broke during this quarter and production metrics, employees back ground working on the machine. Business Intelligence should provide complete picture like over the how machinery part broke which employee was working and Description of Raw material etc.