BAASS Insights Technology Blog

Companies implementing business intelligence systems must make certain that the system is used to make business better, not just better informed. The trap with BI systems is that they can make you feel empowered without taking action on the data. The best-case use of business intelligence data is to use the outputs of your BI system to build new roadmaps, plans and strategies based on data rather than guesswork.

Everyone makes mistakes. But avoiding mistakes when making business intelligence (BI) purchases is crucial. Companies invest a great deal in their BI projects, and want to get it right the first time around. Avoiding these mistakes can help you keep your business intelligence projects on task, on budget, and on time.

Don’t fall for these business intelligence mistakes. Know what to watch out for as you consider your options.

The average business individual often addresses audiences who are unfamiliar with business presentations and inexperienced at data interpretation. Such audiences need help grasping key concepts present in the available data. Company-wide meetings, annual shareholder meetings, investor meetings and the like may all include such people who care deeply about the company’s success but may have difficult grasping business report findings.

Green is most definitely the new black in today’s world. Finding ways to preserve the environment while conducting day-to-day operations can be tricky and expensive. Updating equipment to eco-friendly options and implementing green tools leads to company capital being spent on fixed assets that are multi-functional. This requires managers to ensure that new assets are both useful to the organization and friendly to the environment.

Your data is telling you something, are you listening?

On Demand access to key business data and analytics is an invaluable tool to achieving your organizations goals.

Business analytics, in the past primarily evaluated by IT departments or data scientists are finding their way in the hands and plans of the CFO. The CFO has the skills and expertise to more fully utilize these analytics, leveraging the power they can offer. Utilizing real-time data access, and an ability to analyze large amounts of data.

When looking at ways to reduce expenses, one of the first categories businesses focus on is operational expenses. Operational expenses are incurred in carrying out an organization’s activities . These expenses can add up quickly and come in a variety of shapes and  sizes . While some of the most common expenses are in the form of office rent, insurance  and payroll , others are not so easily enumerated.

When it comes to your customers, how knowledgeable are you about their behavior and its overall impact on your organization? Can you easily identify the most profitable customers? What about the most unprofitable customers?