From clipboards, checklists and spreadsheets to automated digital data collection and analysis, knowledge through business intelligence is a powerful tool for any business regardless of how it gets done.
However, with constant consumer demands and changes, in-depth ingredients traceability, industry compliance, recalls and safety adherence, non-digital data collection, spreadsheet analysis and reporting simply won’t cut it any more. A faster, more accurate method is needed and a centralized business intelligence, or BI, data approach could be part of the answer.
For more than 20 years, Coolearth Software has helped Food, Beverage and Consumer Packaged Goods (CPG) companies take their operational planning, business analysis and supply chain reporting to the next level with better data collection and business intelligence. As a result, they now have…
- Better visibility into demand and operational performance
- Better product planning and management
- Better overall management of customer accounts
- And much more…
So, what is BI? It may not be what you think.
With scheduled operation reports needed to keep day-to-day business operations moving to ad hoc reports for visual data discovery, a business Intelligence reporting tool has become a necessity across all industry verticals. But business intelligence and data reporting, though sometimes used interchangeably, do not always refer to the same thing. Let’s take a look at the differences and a couple of definitions.
Simply put, data reporting refers to the process of collecting and visualizing business information for the purpose of data analysis. A snapshot is provided either scheduled or ad hoc. Data reporting is static in nature and hard to get to drill-down data if not impossible.
Business Intelligence (BI) platforms however are typically tools used by businesses to report against internal and external data. Trends can be identified to help with strategies, reveal revenue streams and point out inefficiencies. BI reporting finds relevant and actionable insights through collection, visualization, drill-down data analysis and robust reporting.
It should also be noted that new BI solutions are far easier for end-users to use and not necessarily designed specifically for technical IT departments only. Now all business users have the power to create dynamic and detailed reports off of accurate, real-time data.
Note: If users have to wait on IT to create necessary reports, then the data can never be real-time and any business insights are potentially lost.
Great data gives actionable insights.
Coolearth BI solution helps in producing accurate reports by extracting data directly from your data source. Our solution eliminates the time consuming task of consolidating data manually.
With a digital data BI solution a company can now allow managers to monitor specific business data in real-time, anywhere, anytime. Mobility as well. This gives managers a powerful tool with accurate data to make better decisions on what is happening now and to forecast for the future.
Understanding your data could be the key to unlocking increased profitability, rapid scaling, and decreased waste for your business. A BI tool can do just that.
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