Top Misconceptions About Business Intelligence

Business intelligence (BI) is often seen as an intricate and expensive process reserved only for large and complex companies. This impression surrounded BI with misconceptions and prevented small businesses from exploring its potential.

In this infographic, we take on five of the most common misconceptions about business intelligence and how your business can move forward with BI.

1. Business Intelligence is Only for Big Businesses

Business intelligence is available to all businesses regardless of industry and size. The advancements in technology made BI tools within the reach of small businesses. Software as a service (SaaS) providers made BI affordable and accessible to small businesses, even for those without their own IT team.

2. Business Intelligence is Complicated

A few years back, business intelligence can only be processed with the help of IT experts and data analysts. That is no longer the case. BI tools are now more user-friendly and intuitive. Dashboards can be created to allow users to interpret data and create reports without having to break their backs.

3. Business Intelligence is Reserved for Management

When BI was still expensive, businesses have reserved its utility for top-level decision-making. Now that BI tools are more affordable, businesses can maximize their BI tools for decision-making in every level. This also helps companies make better decisions through collaborative efforts.

4. Business Intelligence Can Scrutinize Every Detail of Data

While BI tools can easily work its way around tons of data, it can only make sense of them with the right direction. To maximize the use of business intelligence, businesses need to determine their goals and the sets of data they need to process. Remember that while BI tools are smart and intuitive, they still need inputs from users.

5. Everyone Can Be a Data Expert

Business intelligence tools have indeed made it easier for us to harness the power of data. However, this does not mean that you can consider yourself as a data expert. Interpreting data and making decisions are skills that one needs to learn before they can fully harness the power of data and business intelligence.

Business intelligence is no longer an enigma for most businesses. With advancements in technology, businesses of all shapes and sizes can maximize BI to achieve their goals.

Need experts to guide you in business intelligence? Contact marketing@dvphilippines.com and learn how our data experts can help you maximize BI tools and grow your business.