Business Intelligence has become a term that is branded about very often in business circles especially among business enterprises that are large and complex.
Business Intelligence or BI refers to the use of applications, processes, skills and technologies to make sound business decisions that affect the outcome of the business’ operations. Every business entity, big or small, can benefit from proper use of BI; merely having access to Business Intelligence cannot provide for a company’s growth, it has to be utilized in the proper manner.
To highlight this with an example, let’s assume there is Company A with many sales branches through the length and breadth of a country. The use of Business systems helps the company collate data such as costs, sales figures outputs, performance equations and ratios etc. However, without analyzing the data and breaking it up into modules such as understanding which branch office leads in the sale of which product, or which branch office is inadequately staffed or supported to handle large volume of sales etc. this whole concept of BI falls flat. With proper analysis and corrective measures, BI helps companies improve their efforts, build better targets and focus on future expansion and growth.
Significant improvements in BI software in the last few years have enabled even smaller companies put in place practices and systems that meet their specific industry based requirements. Business Intelligence has also grown to help companies measure other equally import and relevant aspects of their business operations such as Quality Assurance, Supply Chain Management, Customer Relationship Management, Inventory Control, Warehouse Management, Product Movement etc.
Just as every specialist skill requires the services of an expert, Business System needs the services of a consultant or expert who can advise the company on the way to adopt new strategies for the organization and analysis of data. A Business Intelligence Consultant is responsible for setting up new applications, improving existing systems, managing information and helping the company management to use the combination of business management and technology to boost sales, increase profits, reduce costs and enhance company efficiency.
Most Business Intelligence consultants are part of the professional team of large organizations; however, it is increasingly becoming an attractive career option for many freelance Business Intelligence professionals who contract their services to several companies. In such a scenario, a Business Intelligence consultant is not only an expert in setting up new systems but also identifying lagging areas in technology, human resource, accounts and operations that are affecting business operations of a company at fundamental level.
A Business consultant can design applications using software modules customized for individual requirements and run demos that show companies how setting up systems often makes data easier to manage. By doing so, a BI consultant helps improve the company’s ability in avoiding pitfalls, making smarter decisions and charting future plans. Improvement in core and critical areas such as accounting and financial programs, customer information, employee profiles and sales records are increasingly becoming a part of a Business Intelligence consultant’s profile.