Advantages of Business Intelligence

Here are some of the advantages of using Business Intelligence System:

1. Boost productivity

With a BI program, It is possible for businesses to create reports with a single click thus saves lots of time and resources. It also allows employees to be more productive on their tasks.

2. To improve visibility

BI also helps to improve the visibility of these processes and make it possible to identify any areas which need attention.

3. Fix Accountability

BI system assigns accountability in the organization as there must be someone who should own accountability and ownership for the organization’s performance against its set goals.

4. It gives a bird’s eye view:

BI system also helps organizations as decision makers get an overall bird’s eye view through typical BI features like dashboards and scorecards.

5. It streamlines business processes:

BI takes out all complexity associated with business processes. It also automates analytics by offering predictive analysis, computer modeling, benchmarking and other methodologies.

6. It allows for easy analytics.

BI software has democratized its usage, allowing even nontechnical or non- analysts users to collect and process data quickly. This also allows putting the power of analytics from the hand’s many people.

BI System Disadvantages

1. Cost:

Business intelligence can prove costly for small as well as for medium-sized enterprises. The use of such type of system may be expensive for routine business transactions.

2. Complexity:

Another drawback of BI is its complexity in implementation of datawarehouse. It can be so complex that it can make business techniques rigid to deal with.

3. Limited use

Like all improved technologies, BI was first established keeping in consideration the buying competence of rich firms. Therefore, BI system is yet not affordable for many small and medium size companies.

4. Time Consuming Implementation

It takes almost one and half year for data warehousing system to be completely implemented. Therefore, it is a time-consuming process.