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What is self-service business intelligence and why is it important?

by Madhurjya Chowdhury

December 8, 2021

Here’s Why Self-Service Matters in Business Intelligence

The amount of data collected by businesses today is constantly increasing. As a result, demand from decision makers to quickly translate raw data into actionable insights is growing. However, as technology advances, more and more people within your organization will want access to data in order to be productive and successful in their jobs. Self-service BI is all about that.

In this article, we’ll explain what self-service BI is and outline the key features and functions a BI solution must have to deliver great business results.

What is Self-Service Business Intelligence?

Self-service Business Intelligence (BI) is a type of data analysis that allows people without expertise in BI or related activities such as data mining and statistical analysis to explore and examine data sets. Self-service BI technologies allow users to filter, sort, analyze and visualize data without consulting a company’s BI and IT departments.

Self-service BI capabilities are used by enterprises to make it easier for employees, from managers to frontline workers, to obtain relevant business insights from data generated in BI systems. The primary goal is to encourage better-informed decision-making that leads to favorable business outcomes, including increased efficiency, improved customer satisfaction, and increased revenue and profitability.

Why is self-service BI important?

Businesses today operate in an age where data and its use are highly valued. Decision-makers constantly need reliable, real-time data, delivered in a simple and fast way. Considering how data-driven decision-making affects revenue and profit, it becomes especially critical for organizations working in fast-moving industries like consumer products, retail, or banking. Data is growing exponentially and businesses need to make critical decisions quickly. Decision makers can no longer simply wait for up-to-date reports from the IT division.

Benefits of self-service BI

Digital Work Management System is a category of tools and technologies that allow you to properly manage your team and succeed just about anywhere, anytime, in a secure facility. Having a self-service BI solution is beneficial, but imagine having it as part of all your digital products and productivity tools in one place – your usefulness and results would explode!

Improves the decision-making process

The fundamental goal of business intelligence is to help organizations streamline their operations by connecting employees to the data they need to make critical decisions.

Users using self-service BI don’t have to waste time sifting through spreadsheets to find source data or making intuition-based selections, and instead have more time to focus on it . Its panels, reports and visualizations make decision-making easier and more efficient, making better, wiser and, above all, data-driven decisions.

Leverage actionable insights

Every member of your team, in every division, has easy access to critical data and its analysis. Marketers can use the data to better understand their customers’ demands. The data can be analyzed by the HR department in order to improve the workplace or the selection procedure. In no time, your CFO and CFOs will be able to create and distribute meaningful financial reports.

End users can visualize the data they need and understand what it means using standalone BI tools. Using actionable insights enables your business to make better use of data and increase process productivity, while easing the transition from analysis to action.

Enables collaboration

Self-service solutions should not only provide actionable insights, but they should also drive cooperation and create conversations between different teams in your organization. At the organizational level, share the dashboard with management and project people so everyone can have access to the data they need to make a choice.

Collaboration helps teams share ideas and opinions, and it also allows team members to be more engaged with the projects they’re working on because they can see how their contributions affect the business as a whole. . As a result, you will have a stronger team, which is essential to the success of any business.

Issues are also easier and faster to resolve when more and diverse team members can review them and provide feedback.

Simplifies daily workflow

When self-service BI is enabled in your digital business solutions, everyone on your team will be able to easily create tasks from data and collaborate effectively. The activities that result from the analysis and interpretation of data are an important part of the process. You won’t be worried about this if you’re using a work management tool, as you can set a task in seconds, ensuring you don’t miss anything crucial that needs to be done. These tasks can be assigned a high priority rating so that they stay at the forefront of your mind, ensuring that they are completed on time.

Competitive advantage

While your rivals not using self-service BI are still figuring out data analytics and waiting for insights, your business can act on its critical data insights now.

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