What is Business Intelligence?
With business intelligence, your company uses activities like data mining, online analytical processing, querying, and reporting to inform decision-making. By looking at real data from your past business decisions, you can extrapolate that information into the future, to make the best possible choices in the present.
Business intelligence allows you to make decisions faster and reduces the risk of taking your staffing agency in the wrong direction. When you know what has worked in the past, and what has failed, it’s easier to make important decisions.
Why You Need Business Intelligence
When you are handling workforce management issues, many questions come up that need answers fast. Consider the following scenarios:
• Your client needs talent in a specific area, with a specific skill set, and they need that talent tomorrow. Do you know who is available?
• Your talent’s communication preferences make it easy for you to get a hold of them, but do you know who prefers texting, and who prefers email?
• You seem to be getting reports of no-shows. Do you know why? Can you identify a trend?
• Your timesheets are inaccurate with employees reporting the wrong hours regularly, jamming up your productivity. Why is this commonplace?
• With business intelligence practices in place, you can get to the bottom of these issues and prevent them from coming up again. At the least, you will be able to pinpoint problems and successes, which gives more information with which to evaluate the performance of your business.
When you analyze data with business intelligence, you can predict growth patterns, understand workforce behavior, predict your clients’ requests, focus on the right recruiting to meet client needs, and project revenue trends. You’ll be able to meet client requests easily with a strong understanding of your real-time capacity.
To put business intelligence into action, you need access to all of the data that makes analytics accurate and accessible. With the right workforce management tools, you can easily dive into what makes your business work and make it even better.
Your workforce can be managed smarter, not harder, with business intelligence. When you put business intelligence (BI) into play at your staffing agency, you’ll benefit from better
predictions and projections for future decisions. These are based on what has happened in the past, so concrete data can inform every move.