5 Top Ways BI Can Benefit You
#1 Benefit: More accurate and reliable reports
By the year 2023, more than 33% of big businesses will use decision intelligence. But what is the basis of sound business intelligence?
It is, Accurate Reporting.
Companies need a consistent reporting system for specific data sets, but they must also ensure that the reported data is correct. Grow’s No-Code BI Solution can help with this.
With our Automatic Reporting, you only need to enter your data once, and the system will automatically pull data from all relevant sources. This means you don't have to worry about making mistakes when you type or copy data into multiple reports by hand.
Also, Grow’s Scheduled PDF reports are a great way to keep your team, your company, and your investors up to date on the latest numbers and KPIs.
This report will be sent to one or more people as an email with a PDF of the dashboard. You can set up PDF reports in Grow and have them sent to multiple people automatically regularly.
#2 Benefit: Finding market trends
86% of successful companies periodically track and analyze market trends.
Many businesses keep an eye on their sales and marketing channels, but the key performance indicators (KPIs) are usually spread across different dashboards. This makes it hard to learn where the weak spots are and how they later affect conversions.
Sococo's centralized tracking of its funnel has made it much easier for them to evaluate customer experiences, find problems with conversion, and fix inefficiencies.
Sococo with Grow's Marketing and Sales Funnel Dashboard, which includes analytics for tracking the progress of opportunities and digging into the success of its inbound marketing efforts, has led to better customer service and faster growth.
To know more about Grow's No-Code Business Intelligence tools, read Grow Pricing 2022 Capterra.
#3 Benefit: Simplify and cut down on operations
One benefit of Business Intelligence that doesn't get as much attention is that it can help cut down on waste. This includes operational and administrative tasks that can be done automatically with a BI system. BI does the work that data entry workers or data analysts would do, like organizing data, removing duplicates, and doing other repetitive tasks.
Dresner Advisory Services found that companies using BI tools experienced a 39% reduction in operational expenses and a 20% improvement in operational decision-making.
By finding pain points, bottlenecks, and inefficiencies in manufacturing, operations, and sales, Grow's No-Code Business Intelligence software can help you find redundancy in your operations. With predictive analytics, our BI will even give you ideas for how to fix these problems.
#4 Benefit: Get the required edge over the competition.
The number of businesses that use BI keeps going up.
MarketsandMarkets says that the global business intelligence market will grow at a CAGR of 7.6% from $23.1 billion in 2020 to $33.3 billion in 2025, from a value of $23.1 billion in 2020.
It's not crazy to think BI will become the norm in the next 10 to 20 years. This is especially true as the No-Code Business Intelligence market becomes more popular and the importance of data becomes more apparent.
Grow's unlimited users licensing model tops the no-code BI solutions market.
#5 Benefit: Get rid of the guesswork.
Companies can't make critical management, financial, and marketing decisions without taking huge risks if they don’t use BI tools. No-Code Business Intelligence tools are the recent addition to this convenience that gives your company a competitive edge.
82% of SMB leaders think having all their business data in one place is essential.
When you use Grow Datasets, every team in your organization can use the same report to build metrics. This means that the numbers will always be the same. Have you ever been in a meeting where the people in charge of sales and marketing disagreed on the numbers?
Grow Datasets offers a centralized report for building multiple metrics, leaving zero room for guesswork. When metrics' definitions change, there is only one report to update instead of a bunch.
Closing Words-
Grow's No-Code Business Intelligence software lets you get the most out of your business by making every employee a decision-maker.
When employees have relevant, up-to-date information, they can make well-informed decisions that affect the company's bottom line.
In short, you get:
- More profitable business
- Better access to critical information
- Improved return on investment (ROI)
- Ability to spot business opportunities ahead of time
Read enough? Take your business to new, never-before-seen levels with Grow.
