What Are Some Benefits Of Business Intelligence Efforts

A broad range of applications for BI has helped companies rack up impressive R O I figures.
Business intelligence has been used to identify cost-cutting ideas, uncover business opportunities, roll E R P data into accessible reports, react quickly to retail demand and optimize prices.
Besides making data accessible, BI software can give companies more leverage during negotiations by making it easier to quantify the value of relationships with suppliers and customers.
Within the walls of the enterprise, there are plenty of opportunities to save money by optimizing business processes and focusing decisions.
BI yields significant R O I when it shed slight on business bloopers. For example, employees of the city of Albuquerque used BI software to identify opportunities to cut cellphone usage, overtime and other operating expenses, saving the city $ 2 million during three years.
Likewise, with the help of BI tools, Toyota realized it had been double-paying its shippers to the tune of $812,000 in 2000.
Companies that use BI to uncover flawed business processes are in a much better position to successfully compete than companies that use BI merely to monitor what's happening.