Decision Making Process And Companys Performance Aspect

Every modern company benefit from business intelligence. It has to be realized that almost every tool which is being used for supporting data spread across the company is simultaneously somehow connected with business intelligence solutions. Whilst business intelligence might be – as a whole – boiled down to supporting the process of transforming data into information and, then, information into knowledge usable for the company, in point of fact almost all tasks connected with data belong to BI branch. Of all business intelligence tools, dashboards are being paid most attention to, these days. Even though a few years ago they were reserved solely for managers of the largest companies, nowadays they re quite common. What has changed? What†¦show more content†¦What s more, the second part seems even more important, if not just crucial. Nevertheless, before thinking about positives, managers should eliminate negative trends. And that s what dashboards are perfect for. ï‚ · Correct negative trends. Once the negative trends are recognized, localized, and analyzed, comes the time for correcting them. Thank to modern dashboards, eliminating negative trends is facilitated due to improved abilities for modifying concrete factors on trend s route. ï‚ · Improve the efficiency of newly-made decisions. Even though improving the efficiency of deciding is the common goal for all business intelligence solutions, every tool treat the question in a different way. Dashboards, for instance, support decision making with better information, whilst â€Å"better† means more timely and more accurate. As a result, â€Å"better-informed† decisions are being made what influences on company s performance, obviously. ï‚ · Measure company s parameters. It never is easy to measure company s real performance or efficiency. Even if something looks good from the outside, in point of fact it might be many times worse, but the external symptoms still aren t visible. Deep analysis let managers react on company s inefficiencies before it s too late to change anything significantly. It s indispensable for minimizing presumptive losses and multiply demanded incomes. ï‚ · Improve performed