Business Intelligence [BI] is an application which is used to analyze the raw data that a company produces. It provide a series of related activities, from data mining to querying and reporting, so that organizations can make better decisions from its results, and identify new opportunities. With the growing use of BI applications all over, both its pros and cons need to be considered. Some pros and cons of Business Intelligence are as below.
Pros of Business Intelligence
- Visualize data quickly.
The modern BI applications these days can help put big data into understandable graphics in short period of time. Instead of comparing and contrasting figures on a massive spreadsheet, entire executive teams can just look and graphical data that represents their Key Performance Indicators [KPIs] and other actionable information.
- Freely scalable.
In case you’re using BI software or applications, then there are many solutions available that can help you operate at a scale that is right for your organization. This includes pay-per-use options, subscription options, and other pay-as-you-go opportunities.
- Manage big data in real time.
You sometime may have to make big decision in short period of time. Thus, you need to be up to date about all the available information. The BI application has all the required information of the organization so that tactics or strategies can be changed immediately.
- Easy to track KPIs.
With business Intelligence, an organization can track how their Key Performance Indicators [KPIs] are being fulfilled properly. The different tools can help you look at the big data, develop useful metrics and also makes a company more effective at what it does.
- Can gather all information.
The modern business intelligence is now available in mobile platforms too. This means that now you can always have the information when you need it, whether you’re taking a long holiday weekend or break.
Also Read: Pros and cons of Business Degree
Cons of Business Intelligence
- Different conclusions made from the same data.
The results provided by business intelligence applications remain constant. However there is inconsistency from the decisions that the human make. Different people have different views and results they analyze have different outcomes, which mean an organization must spend time finding middle ground.
- Blends professional and personal boundaries
There is need of special care to keep personal and professional lives apart. But there are still chances of blending of professional and personal boundaries making some people uncomfortable. Since employees use personal devices to access this information. The data collected may be considered private information by some that they don’t want to have used by an organization.
- Need of multiple BI applications.
With numerous business intelligence options available, some BI may provide one specific surface. To get best result from your big data, you may need to invest a good amount of money to make sure your BI is fully integrated
- Data security.
When using mobile BI applications, there is a threat of hacking. It can put your sensitive or proprietary information at risk. There is a threat of security breach if your system is connects to the internet directly.
Hence, these are few of the pros and cons of business intelligence. The increasing popularity and use of BI application is putting the data on risk. It requires special attention to keeps those important data secure.