The era of Business Intelligence (BI) being restricted to massive centralised data warehouses controlled by IT is long gone. With the increasing importance of data and analytics in all industries and businesses, there is a growing need for different departments and users to have greater access. Consequently, many organisations are recognising the advantages of decentralising big data operations to grant more control to individuals over how and when they access crucial business information. This involves using historical, current, and predictive analytical data models to tackle contemporary business challenges and provide timely and effective input for decision-making. The rise of software elements that facilitate configurable reporting, interactive “slice-and-dice” pivot-table analyses, visualisation, and statistical data mining has helped in transitioning to self-service BI.
Self-Service Business Intelligence Enabling Data for Masses
While traditional BI models remain valuable, particularly for large enterprises, the increasing volume of data and sources requires greater agility to keep up. Moreover, the availability of real-time, data-driven information has presented businesses with immediate opportunities to identify and tackle problems across functional areas like sales, production, and finance. Empowering average users with data can have significant implications for future business improvements and competitive advantage.
Undoubtedly, data is essential for informed decision-making in businesses. To promote the proliferation of data among stakeholders and enable prompt business-critical analysis, more companies are investing in BI software and applications. Sophisticated tools, such as Exela’s web-based intelligent reporting platform, Athena, offer opportunities for average users to access and manipulate data that might otherwise be challenging to obtain. These platforms provide easily understandable analytics and information through graphical representations and drill-down features. With self-service BI applications, department heads or average users can gain valuable insights into all aspects of a business, from inventory management to production workflows and SLA tracking. With the right tools, the possibilities are limitless.
Self-service business intelligence uses and benefits
When it comes to utilising self-service tools, businesses have numerous options. While some users may find the ad hoc reporting features sufficient, others may require more complex functionality, such as integrating private, local data and modifying reports and dashboards.
- Self-service business intelligence (BI) allows business users to access and analyse data without the need for IT or data specialists. Here are some ways that a business can benefit from self-service BI:
- Faster decision-making: Self-service BI enables business users to access data quickly and easily. This can help decision-makers to make informed decisions faster than waiting for reports or analysis from IT.
- Improved data accuracy: Self-service BI tools often have built-in data validation and cleansing capabilities, which can help to ensure data accuracy.
- Reduced IT costs: With self-service BI, business users can create their own reports and dashboards, reducing the need for IT support and freeing up IT resources for other projects.
- Increased data literacy: Self-service BI tools can help to increase data literacy among business users. By allowing them to work with data directly, users can gain a better understanding of the data and its implications for the business.
- Enhanced collaboration: Self-service BI tools often have collaboration features, allowing users to share data, insights, and reports with colleagues. This can facilitate communication and collaboration among team members.
Overall, self-service business intelligence can help businesses to make faster, more informed decisions, improve data accuracy, reduce IT costs, increase data literacy, and enhance collaboration.
Self-service business intelligence has transformed how businesses utilise data. By eliminating the need for IT, important information is now readily accessible to department heads and employees alike, empowering them to make impactful decisions. Robust intelligence tools and third-party resources have made it possible to translate complex analytics into meaningful insights. Users are no longer limited to a standardised representation of data, but instead have the freedom to manage and manipulate large volumes of information in a way that is easily understood and utilised. This shift has given stakeholders more power to influence and enhance business outcomes, as critical data is no longer solely under the control of an overburdened IT department.
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