We are all becoming ever more aware of the so called “Data Deluge”. Most retailers and wholesalers are not suffering due to lack of data, but rather from an excess of data. But data resides in different systems, often poorly integrated. That is where Business Intelligence software and Business Intelligence tools come in handy.
Typically, Business Intelligence Software enables you to aggregate data from a number of different sources and helps you to analyse that data. Business Intelligence software allows you to then be able to perform ad hoc reporting with that data, in order to be able to convert raw data into useful insights into what is happening in your business.
Business Intelligence software has until recently been predominantly part of ERP software suites, but increasingly, Business Intelligence software has gone into the cloud, providing businesses with the ability to access critical data sets remotely via the web, rather than relying upon software packages that have been installed on desktops or on company servers. This trend towards Business Intelligence software being available in the cloud has the benefit that users can collaborate around the same data very easily. So in the retail world, data can be shared both horizontally by stakeholders along the supply chain, and also vertically between departments in the same organisation.
But Business Intelligence Software must do more than simply provide valuable information.
It must provide the means of empowering the user to make faster and better business decisions to drive measurably better business performance. The key to this is making sure that data is made available fast, that the data is presented in a way that highlights the exceptions and opportunities easily, and that the data can be analysed collaboratively, rather than in isolation.
Krunchbox is a leading web based Business Intelligence Software application.
It is used by major global retailers and suppliers, providing valuable insights into opportunities for driving higher sales with lower stock. Being cloud based, it is a standalone tool which can complement your existing ERP system, by providing online business intelligence as an adjunct to your business. It is an exception management tool, which helps users to hone in on the key opportunities, rather than wading through reams of data.
Krunchbox will show you what is selling at the checkout, what is not selling, and what you could be selling a great deal more of if you had the right stock in the right store locations. Krunchbox is a Business Intelligence software application trusted by global brands to deliver insights time after time, driving improved business performance.
If you found this article on Business Intelligence Software helpful, you may be interested to read the following related article:
“What are Business Intelligence Tools?”