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What Can Business Intelligence do for your IT Department?
Can business intelligence boost your company’s IT set-up? Discover how understanding and using the right data can boost your business now and in the future.
It’s great to have the latest IT hardware and software, stellar cybersecurity, and an efficient, easy to implement a disaster recovery plan. However, these advantages, on their own, won’t guarantee your company’s success. You also need business intelligence to use all the tools at your disposal to meet your business goals. Read on to discover what business intelligence looks like and how it can propel your business into the future.
What is Business Intelligence?
Business intelligence is the ability to turn data into measurable goals and actions. It combines analytics, data visualization, data infrastructure, best business practices and more to enable your company to make decisions based on comprehensive, real-time data.
Business intelligence can boost your company by:
- Providing you with all the facts you need to make well-informed decisions. Are you wondering which products and/or services your target audience is interested in? A comprehensive look at your website data will show which pages get the most visits and generate the most sales. This data can also show where your visitors are coming from, which products are bought by people in particular areas, and more.
- Enabling you to save time and money. Every savvy business owner knows that it’s important to keep business costs down and business intelligence can help you do just that. The data generated by your IT department can show which products and services need to be cut, thus helping you avoid losses due to poor product/service reception. Your data can also provide a detailed overview of all your expenses to enable you to see if some expenses could be minimized or cut altogether.
- Empower you to offer better customer service. Are people coming to your website and then immediately leaving? Do you have a high percentage of abandoned online shopping carts? If so, careful data analysis can help you solve these problems. You can also leverage data from online reviews about your business to see what people like and don’t like about your company. By using the data in combination with best business practices, you can improve your customer service to existing and potential customers alike.
- Accurately determine the ROI of each marketing campaign. Discover which forms of marketing provide your business with the best ROI using real-time data to see how your target audience is responding to your advertising campaigns.
How Business Intelligence Improves your IT Set-up
Another aspect of business intelligence is by using all the information at your disposal to create a winning IT governance plan for your company. An IT governance plan uses business intelligence to analyze your company’s goals and see which IT tools and technologies you’ll need to help your company grow now and in the future. Another part of your governance plan is finding the right kind of support for your IT set-up in order to turn your IT governance plan into reality.
Business intelligence can also help you improve your cybersecurity to prevent hacks and breaches that would damage your company’s reputation. With the right data, you can see which types of attacks to expect and protect yourself from them by investing in appropriate IT tools and training for your staff members. Using business intelligence can also help you create an ideal disaster recovery plan so your company won’t experience extensive downtime in the wake of a natural disaster or cyberattack.
William Ives Consulting is a top-tier IT managed service provider that specializes in helping companies use business intelligence to its fullest potential. We provide the tools, training, assessments, IT consulting and monitoring, and other services to help your company keep its IT systems optimized and secure at all times. Get in touch with us to earn more about our services or to make an appointment with one of our experts.