Today’s businesses face a lot of competition from their rival companies and it is very important to grab market opportunities to remain profitable. Furthermore, the growth of an organization depends a lot on the strength of the business and analyzing huge volumes of data that gets collected at various levels of the organization and across multiple systems and devices is equally important.
For growth, companies need powerful business intelligence solutions that can provide self service capabilities and at the same time accommodate the process of reporting and analysis that enables the IT staffs to satisfy specific business requirements.
Microsoft SharePoint is the most popular collaborative solution that has built in business intelligence capabilities and allows you to make the most of continuously floating information. The SharePoint business intelligence application offers effective reporting and that is the key to decision making after the data analysis. It presents analytical data in a comprehensive manner and there are different types of reports that are supported by the system.
SharePoint development allows you to focus on your resources and get the best information from structured and unstructured data. This helps in smarter and more informed decisions by offering business critical information in a central location.
Business actionable reports: SharePoint business intelligence combines various sources of data and presents it to the users with actionable reports, which are accompanied by visualizations. And this helps business owners to take quick actions by easy analysis and key trend identification.
Attain business targets and goals: It requires a careful analysis to identify the key performance indicators before delivering BI to specific departments. It is crucial to particular job functions and establishing the KPI hierarchy and tracking the progress towards the business objective ensures that everyone is focusing in the same direction. A quick glance and the status indicators help to see if there are any areas that need special attention.
Fast decision making: SharePoint BI analyses vast stores of transactional and operational data and organizing the data into consumable, understandable and actionable reports. The reports offer up to date analytical information and this helps business owners to take fast decisions and even data accessibility is improved.
Competitive benchmarking: BI not only helps to analyze the performance and track the progress of the company towards its goals, but it can also be applied for comparative analysis. It helps to assess the strength, weaknesses, threats and opportunities by analyzing environmental, operational and competitor data.
Data driven business dashboards: SharePoint’s Performance Point feature helps to create data driven dashboards and the business owners can navigate and perform analysis through the data. Users can now dig deep into various areas and analyze the data deeply.
Business search: SharePoint BI also allows to search against the data based on dimensions and link directly to a specific view of the reports. Reporting services and excel services are now indexed by the search engines.
Thus, in a nutshell we can say that SharePoint assists your capability to make sound business decisions that are vital to remain competitive in the market and is essential to lead.