Business Intelligence (BI) is a term that characterizes a variety of software applications aimed to analyze the performance of a company.
Today’s variety of business intelligence software enables entrepreneurs and employees to access information about company performance without the need to wait for other departments to create those reports.
This democratization of information access helps users back up with hard numbers, which accurately determine the current level of a company’s performance.
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Why Should You Care About Business Intelligence?
The one who manages information runs the world. The same principle works for business, if you have accurate information about the performance of your employees, expenses, projects, you’re on top of your business.
Business intelligence eliminates guesswork and prevents you from failure. It improves the overall performance of the company, enhances communication and coordination between departments, and enables companies to adapt quickly to changes in financial conditions
How Can You Use an Hours Tracker to Increase Business Intelligence?
An hours tracker is a type of business intelligence software that helps to allocate the distribution of employees’ time and productivity patterns. The important part of it is the report generating feature. Because BI is all about knowledge, the tracker provides you with accurate information, which you can use as a base for decisions on how to improve efficiency and competitive ability.
What Are the Results?
1) Enhanced Visibility
If you want to improve or streamline the processes of your business, you have to find out which areas need improvement.
With the help of an hours tracker, you can increase the visibility of all the processes in your company.
You can find out the duration of meetings, find out how much time a specific activity takes, and then decide what you can do to optimize the performance of employees.
Additionally, such a system will help you to save time. Because all the reports are kept in one place, you no longer have to dig through piles of documents.
2) You Have Actionable Information
An hours tracker is a type of business intelligence system that gives you actionable information. With its help, you can identify the trends in employees’ behavior, productivity patterns, and workload.
As employees are an important part of your business, you have to make sure that they are productive and happy.
Using a time tracking system you can see how loaded each team member is, and thus redistribute the workload from employees who are busy to those who are not.
3) Improved Efficiency
One of the main reasons why you should invest in a good time tracking system is because it can improve the efficiency within your organization.
Make sure to share all the information gained from a time tracking system. Not only you can decide how to improve the efficiency of your company, but your employees can also take their part.
You can either share the knowledge you gained at meetings or by reports, but a simpler way to do that is to gain your employees access to their personal statistics. This way they can see where the time goes and which areas need improvement.
4) Simpler Sharing
Most BI apps work in the cloud, just like most of the apps that we use every day. It makes sharing the information they collect much easier and faster.
Simply send a link to a report, or download it in a PDF or CSV format and send it by email.
5) Improve and appreciate employees’ skills
You can improve the performance of employees by helping them become better professionals. But to help them you have to know which employees need it more and less.
By analyzing the reports you can tell which employees take longer executing the tasks and which are doing just fine. From here, there are several ways of forwarding actions:
- you can assign a mentor to an employee who’s lacking;
- create a list of literature that could help employees develop;
- arrange training or meetings where employees could share their work experience.
The tempo of today’s business does not forgive the mistakes that businesses make. If you want to learn more about time tracking software or to create one specificaly for your business you can visit https://jatapp.com/services/application-development/. So, instead of making decisions based only on gut feelings, make ones that are based on facts.