{"id":1646,"date":"2022-09-30T13:51:01","date_gmt":"2022-09-30T13:51:01","guid":{"rendered":"https:\/\/www.progressive.com.mt\/better-supplier-payments-with-progressives-xtrapayments-2\/"},"modified":"2022-09-30T14:02:23","modified_gmt":"2022-09-30T14:02:23","slug":"business-intelligence-what-it-is-and-how-it-can-help-you","status":"publish","type":"post","link":"https:\/\/www.progressive.com.mt\/business-intelligence-what-it-is-and-how-it-can-help-you\/","title":{"rendered":"Business Intelligence: What it is and How it Can Help You"},"content":{"rendered":"\n
Business Intelligence, or BI, in short, has become one of the top buzzwords mentioned on social media, at conventions, and by industry influencers. As a result, it might have lost some of its apparent value and significance.<\/p>\n\n\n\n
In this guide, we\u2019ll explain what Business Intelligence really is and how your business can benefit from incorporating BI in your decisions.<\/p>\n\n\n\n
BI is a combination of business data and professional experience that can lead to better decision-making.<\/p>\n\n\n\n
Business Intelligence is an ongoing process that makes use of various tools, technologies, and personal knowledge and intuition to present insightful information and help decision makers take reasonable action.<\/p>\n\n\n\n
You could compare BI to weather forecasting. The more accurate a forecast is, the more benefit those who read it get from it. Just like Business Intelligence, an accurate weather forecast makes valuable use of both technologies to gather and analyse data as well as experience forecasters.<\/p>\n\n\n\n
Your business stands to benefit the most from using Business Intelligence properly. Just like a weather forecast, BI does not offer any absolute guarantee. However, if done properly, it can help you get things right much more frequently than not.<\/p>\n\n\n\n
Here are the five key benefits of proper Business Intelligence:<\/p>\n\n\n\n
Business Intelligence is not a crystal ball or a fortune teller. It\u2019s a process by which you truly understand your business and market, including your customers\u2019 wants and don\u2019t wants.<\/p>\n\n\n\n