Business intelligence can be acquired in many ways. You have an abundance of options to gather information from a variety of resources. You also have a variety of tools and applications to gather this information. A business intelligence platform or bi platform provides the solid anchor to utilize these tools and applications.
A business intelligence platform should have the capability of processing and delivering information quickly and efficiently to your dedicated servers. A good bi platform provides platform integration with applications and the overall environment.
When you do a bi platform comparison you definitely need to look for how easily you're able to integrate your existing applications to the new platform. You may also want to look into how responsive and customizable the platform is to analytical tools. Non-profits can benefit greatly from utilizing bi analytical tools that capture their target audience.
It is a well known fact that bi platforms can help organize data resources and provide clearer insights into target markets. A non-profit, for example, can use a bi platform to add applications that track students' progress through a program. The non-profit saves money because they are only using one bi platform to complete the tasks instead of having multiple platforms.
You're probably asking yourself why you need a business intelligence platform. Remember platforms are the solid foundation in which you build applications and tools. Business intelligence tools and applications help you analyze and make sense of the data you are receiving from your target audience. Having one business intelligence platform that supports and manages all your analytical and management tools is smart.
Business intelligence platforms are designed to help you evaluate your customer/donor base. Non-profits and for-profit businesses benefit greatly when they understand who their audience is and what their needs are. This also saves money by allowing for a targeted message.
All businesses need to understand what makes their target audience tick. A good understanding can save you both time and money. It can also garner added insights to make intelligent decisions.
So to recap:
Business intelligence comes from the tools and applications that are utilized to gather information from clients, customers, donors and other interested parties. Utilizing a business intelligence platform that has the capability of adding analytical, marketing and development tools and applications can save you money by:
Consolidating reports
Providing clear updates
Eliminating the need to buy additional equipment
Providing inventory status
Determining budget and financials
A bi platform comparison is sometimes necessary to determine the right fit for your organization. Organizations that need to track trends over time or provide both summary and detailed information will need to make a determination based on data compiled through a bi tool.
Cost Savings Realized Through Business Intelligence
The basic fact that you are receiving all this information about your donors or clients is reason enough to consider investing in a business intelligence platform. The business intelligence you receive can save you money in three different areas of your operations.
1. IT Infrastructure- Outsourcing certain parts of the infrastructure and support system can save you some money. You might even consider using a web help deskto resolve issues in real time without the expense of an internal IT department.
2. Data storage and security-When you factor in the bi platform comparison between two or more bi solutions there are some cost savings to be realized here. For example you might invest in a private cloud for sensitive and proprietary information. This will help eliminate costly fees and damage control costs.
3. Production and output- A big part of business intelligence is the fact that bi tools do improve operations by at least 20 percent. Analytical tools are especially helpful in providing businesses with the means to track shipments, measure supply levels and predict market movements.
There are other ways that business intelligence can save you money. An important ingredient in any cost savings is having the right combination of communication, development and operational tools available. The bottom line is that the utilization of business intelligence tools is a key factor in any cost saving measure. For instance, having a web help desk available is a wise use of bi tools to resolve IT issues.
Finally business intelligence in its very nature can and often does provide necessary insights into your clients' or donors' behavior for marketing campaigns and other expenses.
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