Business intelligence (BI) refers to the ways organizations collect, analyze and use their company data. We’ve put together this infographic of business intelligence stats to show you what its worth is to businesses today.
Big data—a term used to describe the enormous volumes of data that modern organizations have to deal with—has completely shifted the way businesses run their operations.
Digitally-mature companies are now expected to have a firm grasp on their data in order to grow their services and remain competitive; and this is often achieved through adopting cloud solutions to leverage data that already exists in the company—unused.
Of businesses that adopt the cloud, 87% of them report business growth from their cloud use. 41% of businesses are able to directly attribute business growth to their use of cloud services.
Business intelligence means using digital tools to mine that data and turn it into something actionable for decision makers to use—whether it’s responding more effectively to customers or re-evaluating an inefficient warehouse floor plan; the ways in which data can be used by SMBs is virtually endless.
In spite of its uses, many SMBs are still lagging behind frontrunners in digital transformation. About one-third of organizations describe themselves as “data-driven”, leaving a lot of room for adoption.
Related Post: The Benefits of Business Intelligence: Utilizing Analytics for Strategy
We created this infographic to demonstrate the value of business intelligence to companies who are still on the fence about adopting new tech.
Check out these business intelligence stats:
Advanced technology solutions like business intelligence help companies achieve and maintain a competitive advantage. Through leveraging modern tools that analyze your data, you can increase productivity, decrease unnecessary costs and uncover new ideas for your offerings. For more information about cloud technology solutions and how they can help your SMB, download our free eBook, Which Cloud Option Is Right For Your Business?
- 48% of organizations consider cloud BI to be “critical” or “very important” to their future business productivity plans.
- Business intelligence, big data and analytics are the top disruptive technologies Global 2000 organizations are implementing to drive success.
- 84% of enterprises have launched advanced analytics initiatives to bring greater accuracy and accelerate their decision making.
- 56% of organizations leveraging analytics are experiencing faster and more effective decision making.
- 51% of businesses are achieving better financial performance with the introduction of business intelligence.
- 46% of organizations have been able to identify and create new product and revenue streams though their analytics use.
- 45% of brands are currently leveraging analytics to develop new business models.
- Over 90% of sales and marketing teams say that cloud analytics is essential for getting their work done.
- 40% of high-performing companies base their decisions on gut feeling, compared to 70% of less successful businesses.
- 37% on average of company data has the potential for useful analysis.