Many operational solutions have some form of reporting in them. However, that reporting functionality is often fairly limited – offering only a few dimensions of inquiry for only the data within that one system
In contrast, a business intelligence solution allows an executive to quickly and easily analyze that system’s data across multiple dimensions, as well as supplement that data with information from other key sources, such as marketing and finance. Analysis and reporting is more robust and faster; it is also easier to follow up on interesting data trends. For example, a BI solution for sales data like the information found in salesforce.com might include:
- Sales Dashboards with graphs showing at-a-glance what is happening so that the proper action can be taken. Dashboards can include such crucial data as: Sales to Goal, Sales by Region vs. Plan, Pipeline Trend to Goal, Products Sold by Customer Segment, and Time to Sell by Product Line.
- Actionable Sales Reports that are generated automatically and cover such key issues as: Actual vs. Forecast by Product, Rep, and Region; Rep Activities vs. Pipeline Generated; Top 30 Customers (who have not purchased a specific product) by Rep, Demographic Profile of Closed Accounts vs. Accounts with The Most Activity.
- Sales Alerts that notify the executive on key changes or upcoming events/actions.
Here is an example of how business executives might use a Business Intelligence solution to help them meet their goals:
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The Warning:
A sales executive is alerted to a key change in the pipeline, goes to the dashboard for an at-a-glance understanding of what is causing the change, and notices that a region is suddenly behind on hitting its revenue numbers. -
The Review:
The sales executive reviews customized reports on the region and finds that the reps who are behind on reaching quota are focusing on products and customer segments that have longer sales cycles and lower probabilities of closing. The executive drills down in the reports to determine the segments and products which have the shortest sales cycles and highest probabilities of closing, to compensate for the shortfall. -
The Action:
The executive and the regional manager review the data and refocus the reps. This puts the reps in alignment with the more successful reps, as well as places the region in alignment with the more successful regions.
Continue to Why Business Intelligence Software is Necessary for Analysis and Insight
