Here is a real example if you need proof of BI’s success.
The New York Shipping Exchange (NYSHEX) is a shipping-technology company that works to improve shipping processes globally. They used various apps and cloud data to extract and manually filled them in excel sheets. This task put a tremendous load on the engineering team to decode the data. Also, the data could be accessed by a limited number of people.
To overcome this hurdle, they implemented BI to provide centralized data for storage and access of data. Now, even the ‘non-engineered’ staff could access and analyze data.
As a result, in 2019, the company more than tripled its volume shipping between Asia and U.S.
The use of BI positively impacts your business. The large amounts of data your business collects can make significant changes to improve and make it profitable. Therefore, invest in BI and give more power to your data!