Companies have spent millions on software systems to help improve key business processes. Business intelligence also involves risk management techniques. The answer to these questions (and many more) can be found in the information already stored in your company database, and extracting these answers is the heart of Business Intelligence. It is no surprise that in many high-performing organizations, business intelligence and root cause analysis have emerged as top strategic initiatives and priorities for senior management.
Providing clients with complete assistance in new software implementation and structural designing for the company are some more key aspects of this job. Dashboard software creates data visualizations (graphs, charts, metrics) that monitor client interactions, revenue, reports, and scorecards.
Errors in data capture or broken processes across the business may only come to light when analyzed in the context of the bigger picture. Traditional information systems tend to be inflexible structures, making it difficult to adapt to the data capture processes of the business, and rapid generation of information for decision-making.
With those four as a start, the next key priorities are to enable more data to pervade into more areas of the business, and ultimately allow more of the vital organizational data to be analyzed and visualized. Unfortunately, due to constraints and inflexibility of most healthcare information systems, healthcare organizations are forced to operate in a retrospective mode rather than acting in real time.
Business Intelligence actually refers to a set of theories, methodologies and technologies that transform raw data into information that can be meaningful and useful to a business in terms of its strategic planning. Performance management is the process of tracking these changes so by encompassing performance management into your business management strategy you can actually change peoples behavior and change business.