Business intelligence (BI) might sound like a buzzword, but it also describes an increasingly important practice—one that can drastically affect your business’s bottom line.
Although BI encompasses a wide spectrum of theories, applications, and practices, it essentially boils down to converting raw data into actionable information that your company can use to make better, more strategic decisions.
At MCG Logistics, we make BI work for you through a varied suite of tools and services that help you make informed choices and curb your transportation spend. Read on to learn how harnessing the power of BI can keep your business ahead of the curve.
What Is Business Intelligence (BI)?
Both large and mid-sized companies use business intelligence to improve their strategy and decision-making processes. Consider a couple of examples: One company might use business intelligence tools and practices to analyze data about broader market trends, helping them more accurately predict what products to keep in stock and in what volume. Yet another business may use insights gained from BI practices to assess and optimize internal practices, like carrier spending and financial forecasting.
In other words, business intelligence can mean a lot of things to a lot of different businesses—but what’s most important is that it directly links real-time data to strategy, decision making, and your bottom line.
Empowering Your Business & Transportation Spend
Business intelligence relates readily to logistics and your business’s transportation spend. In fact, using advanced BI from MCG, your team can sift through complex data, then drill down to concrete answers and empowered decisions at a glance.
For example, MCG’s executive dashboard graphically displays key performance indicators (KPIs), including visualizations that translate analytical results, ensuring they’re readily available to whomever needs them.
Our expert, experienced analysts can also provide detailed, BI-based consultations regarding your KPIs and logistics. At MCG, we understand both the carrier and shipping sides of the industry, and we regularly leverage that expertise to provide meaningful, useable data and analytics services.
In short, MCG help your company turn business intelligence from an aspirational idea into a concrete tool, saving you money and eliminating common logistical pain points along the way.
We’re living in the information age now, and business intelligence lets you harness that information to make effective decisions that reduce inefficiencies and boost your revenue. Don’t miss out on an opportunity to make your logistics smarter and your bottom line healthier—contact MCG to start implementing business intelligence tools today.