Learning how to use information to a company's strategic advantage is an important part of the current IT learning curve. Organizations with business intelligence solutions are getting more value out of their resources than less prepared peers. The types of content stored and retained by all of these organizations is the same, it's just a question of results. Industries are discovering valuable data use cases one by one, with some remaining more obvious than others. Companies that have a strong focus on hard data and record-keeping have a particularly clear path to BI success. All the content they need is right in front of them.
Accounting digs data
Accounting fits the profile of an industry that has plenty of use for business intelligence. The storage and organization of data are parts of this field, and it's easy to see how a better view of this customer information could improve processes. Accounting Today contributor Charlie Gaddis recently explained that there is a need for BI among mid-sized accountancy organizations, and that the interest in this technology is warranted. He noted that employing a BI algorithm and using it to synthesize numerous information groupings is an effective way to drive accountability in ways that would be difficult manually interacting with the data.
The comparative grading of customer accounts remains a BI staple in many different fields. Gaddis stated that accounting is one of these industries. In his view, it is difficult for leadership to determine how much a client is earning a for firm without an algorithm to lay out the details in clear terms, drawn from the relevant raw content. He explained that no matter how much intuition organizations can muster, such an analysis is beyond the scope of what they can accomplish. With a more clear-headed view of the relative profits coming from each account, leaders can work to maximize returns across the entire base.
Selecting the best possible solutions
Working well with BI means using software that can deliver the efficiency an organization needs through the use of whatever information is handy. This means applications should be able to deal with a broad base of data types, both internal and external. Necto 14 is notable for its ability to synthesize content from many points of origin and deliver it to users in multiple tailored dashboards. This way, the whole organization can coalesce around a consistent group of insights, each suiting their particular role. No matter the industry, that combination is the goal of BI.