Unlock the Potential of Your Data: Why You Need Business Intelligence (BI)
Data is not just number and figures. If you know how to use data, it becomes a powerful tool for understanding your customers, optimizing your resources, and driving progress. With the real-time data insights provided by BI, managers do not have to rely on intuition or guesswork anymore. Why is BI an essential part of your ERP system and how does it align with your needs and work duties?
BI: Addressing all roles and responsibilities
Contrary to common beliefs, Business Intelligence is not limited to only business analysts and data scientists. The benefits of BI tools suit various roles and responsibilities since data is always relevant. For example, marketing managers can follow campaign metrics, measure their performance and access customer insights to identify trends and preferences and target specific groups.
Sales managers can use data visualizations to follow KPIs, such as total sales, team and individual performance, conversion rates, etc. They can use BI for sales forecasting and predict future sales based on previous data, current customer and market trends.
Supply chain managers can keep track of the inventory levels, optimize the logistic operations and monitor suppliers, while product managers may use actionable insights to develop products based on customer behavior and feedback. Data remains essential for every role and task, which is why BI tools are such a must-have for each business, regardless of the industry.
Microsoft Power BI is a Business Intelligence technology of highest advancement and innovation. Power BI turns all raw data into a powerful analysis instrument. The software connects to all kinds of data sources, which makes it easier to visualize your company data and use it strategically. The BI software connects the past, present, and future, allowing you to review historical data, assess your status and performance, and explore potential future opportunities.
Integrating Power BI into your all-in-one ERP system – Dynamics 365 Business Central – is the ultimate solution for managing your business from A to Z. In the wide jungle of data, Power BI is your chance to bring order to chaos and understand your data in a pragmatic way.
Discover the key features of Power BI and what makes it the greatest choice for BI software
BI: Revealing market trends and customer insights
BI allows you to dive deeper into customer insights and trends. Users can monitor customer preferences, analyse historical data and the current market conditions, and thus adapt accordingly. By following key insights and real-time data, businesses tailor their offering and products. They can retain their customers effectively with targeted marketing campaigns, personalized promo offers and customized experiences.
BI: Guiding businesses through the complex data and uncertainty
It is difficult for businesses to identify anything in the dark. Yes, exactly - managing your businesses without BI is like trying to find something in the dark. You are not aware of the risks along the way so you may trip over and fall. And this is when BI sheds light to help you identify the potential risks and pitfalls. By analysing data trends, businesses can spot and react to challenges, such as declining sales, increasing costs, customer retention issues, financial disruptions and irregularities.
AI in BI: The intelligent business strategy
Imagine the great benefits of BI enhanced by the features of AI. The combination of the two intelligences – business and artificial – brings results that are beyond the capabilities of manual human work. Engaging data visualizations refined by the creativity of AI will provide you with the comprehensive insights necessary to effectively run your business.
Make use of Copilot for easier search and instant visualization: just ask Copilot for the insights you are looking for using simple natural language and it will display them for you in no time. Copilot helps you create report pages by identifying tables, fields, measures and charts as well as summaries and narratives about a specific report page.
Still hesitating whether you need BI to operate your business successfully? Stop wasting time and take the action into your own hands. BI is not just a complement to your ERP system – it has turned into a necessity.
Learn how Dynamics 365 Business Central ERP and Power BI match your needs. Contact us for a demo or consultation.
Source: Leading with intelligence: why LS Retail leverages Microsoft Power BI
