Business intelligence can be defined as a set of business processes designed to garner and analyze business information. Overall, the role of business intelligence is to improve all parts of a company by improving access to the firm’s data and then using that data to increase profitability Companies that employ BI practices can translate their collected data into insights of their business processes The insights can then be used to create strategic business decisions that improve productivity, increase revenue and accelerate growth.
Combine the power of SAP Analytics Cloud with cloud solutions like SAP SuccessFactors, SAP Ariba, SAP Fieldglass, and SAP Hybris to analyze your lines of business and gain deeper insight into your end-to-end business, from process management to customer experience.
It goes without saying that in order to be effective in the workplace, business intelligence software needs to be carefully implemented – for example, issues such as how it will affect factors like a software licence need to be taken under advisement.
Just as every organization has implemented “passive” record-keeping applications of some sort or another, there will be a time when most will also have “active”, even “thinking” intelligent software that examines data, sniffs out issues, evaluates propositions, recommends actions and monitors results.
Business intelligence acts as a strategic factor for a business to build competitive advantage, by providing privileged information to respond to business problems: entering new markets, product promotions or offers, eliminating islands of information, control finances, cost optimization, production planning, customer profiling analysis, profitability of a particular product.