Often times, companies consider Business Intelligence software as something nice to have, but not a necessity. Hence they find it hard to decide if it is an investment or an expense. After all, the business has been running for all those years without a BI tool.

Someone once said “Necessity is the mother of invention”. How true!! Every “need” to solve a problem has driven mankind to find a solution. Look around you. Every single tool you use on a daily basis, be it a pen, a power cable, a cup, a bottle of water, a key chain (most of them taken for granted) came into existence as a solution to resolve a problem or at the least improve and make life easier. So also a computer, the internet, software solutions AND Business Intelligence. Necessity to resolve known business problems drove companies to develop business intelligence solutions. Here is an example of one company who thought through their challenges, sought a solution, invested in BI and reaped the benefits.

In reality, any current reporting system that requires consolidation of multiple excel spreadsheets and in some cases many other data sources to extract useful information for analysis and taking strategic business decisions, is a great candidate for Business Intelligence.

All the complex data residing in multiple silos can very easily be integrated and presented on your desktop or tablet with a simple drag and drop function. This is much more powerful than you think it is. Just by implementing a good BI solution, most businesses save thousands of dollars in operation costs.  There are several examples of businesses that produce complex reports in about 20 minutes which used to take over 3-4 days prior to implementing a BI solution.

If currently, your business is running on an ERP system without Business Intelligence and Excel is your main reporting tool, then do consider a BI demo. You will be amazed at some of the things you discover about your business. If the whole concept is new to you and you can’t really comprehend what it actually does, call us. We’ll educate you. Rest assured, it will be time well invested.

Santosh Chandran is the Business Development Manager for BOARD Management Intelligence at Olympic Software. He regularly blogs about business intelligence and corporate performance management. You can follow him on Twitter  or on LinkedIn.  Please contact him directly if you would like to find out how BOARD can improve your business results through better decision making, phone 09 980 3964 or email: santoshc@olympic.co.nz