Mar 10, 2016 10:13:00 AM by Amit Wason

What is BI (Business Intelligence) and why is it important?

Business, Finance, Microsoft Dynamics NAV

Before you can decide what’s next, you need the right data — and the right tools — to turn your data into business insights to help solve the crucial decisions your business faces daily. That’s where Business Intelligence, or BI, comes in.

Business intelligence and analysis tools enable you to easily create reports, make sense of patterns and trends in your business and see relationships between groups of data. It allows you to extract the right information from the data with greater quality and accuracy. In addition, it enables you to make accurate predictions for the future.

Reporting and analysis are the central building blocks of business intelligence, allowing you to gather and organize data through reporting. Analysis allows you to turn the data into insightful information and make informed decisions towards your business goals.

Gartner have recently published a report which emphasizes how strategic the ability to perform quality analytics is to most business roles, and provides predictive trends and information about technology which enables the most agile workflows and insights.

Microsoft Dynamics NAV is a finance, supply chain & warehousing system which will help you achieve insights and reports on all data for your financials, operations, and processes. The role-tailored dashboards provide you and you employees with the relevant information you need, where and when you need it.

Having the right business data at your fingertips can significantly influence success. With the combined power of your business management software and Microsoft Excel, you’ll have the answers way before anyone can even ask the question.

Learn more about BI and reporting here, and for a video explainer, watch this BI and reporting whiteboard video here.

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