- Your data is not really useful information.
Companies, organisations and individuals are masters when it comes to collecting data – in fact we collect data daily, often without even knowing. However, data is not the same as information – data is not helpful, nor meaningful, unless used in context to gain insight or information. BI tools help with this – business intelligence helps to analyse data and transform it into useable information that can help fine tune business operations and meet goals.
KPIs (key performance indexes) are supposed to display metrics and guide business decisions – however they are not going to function correctly if your KPI's don't display the data you need. If the data you have does not tell you which areas of your business are doing well, and which are struggling, then it is pointless.
- Your data is coming from various sources
Business intelligence doesn't only deal with big databases (depth) but also in combining (mashing-up) data from various different sources (breadth) and placing this data in one single location. You are wasting your time if you are trying to compare and make sense of data from numerous sources and make connections between them all. BI tools cross data sources giving you more insight than you could ever hope to gain on your own.
- Your data bottlenecks and you can't get reports out
If your non-technical employees are relying on IT departments for company data you may find that things start to bottleneck. BI tools allow even those with non-technical backgrounds to create complex reports. This way, those who benefit from data will be able to analyse and read data and use it in meeting business goals.
- Your data is too big for an Excel spreadsheet
As your business grows you may soon find that it outgrows Excels's scalability. Excel is an amazing tool used by many companies for creating spreadsheets, reporting and handling data – but it does have its limitations and the programme becomes slow when it gets too “full”. With business intelligence data collection, from multiple sources, can be easily mashed-up and put into fats-functioning spreadsheets with ease.