The business intelligence industry has expanded exponentially in recent years and is expected to continue growing. If you want to make the most of data analysis in an established or newly adopted BI system, your team should be data-driven. According to Thelosen, having clearly defined goals and committing to a data culture are essential. Businesses should focus on why and how they are using data. With these objectives in mind, leaders can form a plan for BI use and include their team, establishing a data culture.

    In this section, we’re going to take a look at how different firms and companies have used the advantages of business intelligence for their benefit.

    1. Decentralization

    In the past, data creation was mostly overseen by IT teams who would receive data and decide what they could do with it. This often caused several problems. First of all, it was a waste of effort and time put in by the IT team as they didn't have the knowledge or resources to understand how and where the data could be used, therefore, shooting in the dark.

    1. HelloFresh centralized digital marketing reporting to increase conversions

    Company: HelloFresh
    Problem: Digital marketing reporting was time-intensive, manual, and inefficient.
    Solution: For meal kit company HelloFresh, a centralized business intelligence solution saved the marketing analytics team 10-20 working hours per day by automating reporting processes. It also empowered the larger marketing team to craft regional, individualized digital marketing campaigns.

    So what’s the glue that connects IT, HR and business? Of course, it is Data!

    Today data can and should be used to fuel our businesses and to spread updated knowledge at all company levels and functions.

    Alsghaier and colleagues reported how a team in a specific digital business center worked with McKinsey to analyze if data driven companies were doing better. They interviewed the administrators of 330 public companies asking them about their technology and management policies. The authors found that companies in the highest position of industry which used the data driven decision making approach, were on average 5% more productive and 6% more profitable than other competitors.