Digital data, by its very nature, paints a clear, concise, and panoramic picture of a number of vital areas of business performance, offering a window of insight that often leads to creating an enhanced business intelligence strategy and, ultimately, an ongoing commercial success.

Business intelligence steps up into this process by creating a comprehensive perspective of data, enabling teams to generate actionable insights on their own. With the introduction of online BI, companies today have the chance to create additional value, and, ultimately, profit.

At its core, business intelligence (BI) encompasses the strategies and technologies used by companies for the detailed online data analysis of key business-based information. BI technologies offer historical, current, and predictive insights into various aspects of business operations, thus helping a company to make informed decisions on activities centered around finances, marketing, sales, competitor research, social outreach, internal processes and more.

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The secret is out, and has been for a while: In order to remain competitive, businesses of all sizes, from startup to enterprise, need business intelligence (BI).

Business intelligence has evolved into smart solutions that provide effective data management – from extracting, monitoring, analyzing, and deriving actionable insights needed to stay competitive on the market, to powerful visualizations created with a dashboard builder which enables business users to interact with data and drill into bits and pieces of information they might need, at any time, any place.

But what do you do with all this business intelligence? You can have the most robust BI infrastructure in place. However, if the underlying information isn’t easy to access, analyze or understand, it is pointless. This is where the power of business dashboards comes into play. Dashboards often are the best way to gain insight into an organization and its various departments, operations and performance. Well-built, focused dashboards easily serve up summaries and reports of the BI that’s most critical to the organization.

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Stories inspire, engage, and have the unique ability to transform statistical information into a compelling narrative that can significantly enhance business success.

By gaining centralized access to business data and presenting it in a visual way that follows a logical path and provides invaluable insights on a particular area or subject, you stand to set yourself apart from your competitors and become a leader in your field.

Here, we’ll explore the unrivaled power of data storytelling in the digital age while looking at a mix of powerful data storytelling examples generated with a modern dashboard creator.

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Billionaire Tilman Fertitta walks into the room. You can’t believe this heavyweight, the CEO and sole owner of multiple restaurant franchises, has given you the time of day. Tilman sits down, settles himself, and glances at the clock. “Well friend,” he says, “I have about three or four minutes before I have to get out of here. What do you wanna know?”. As the head of sales at your small company, you’ve prepared for this moment.

“Mr. Feritta, what’s the number one mistake you see small businesses making in the modern economy?”

Tilman pauses for a second.

“They don’t know their numbers, so they don’t know how to analyze where they’re having issues and what’s causing them to be profitable or not profitable,”

He gets up and walks out, as you sit there digesting this quote.

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Businesses are going through a major change where business operations are becoming predominantly data-intensive. As per studies, more than 2.5 quintillions of bytes of data are being created each day. This pace suggests that 90% of the data in the world is generated over the past two years alone. A large part of this enormous growth of data is fuelled by digital economies that rely on a multitude of processes, technologies, systems, etc. to perform B2B operations.

Data has grown not only in terms of size but also variety. Large streams of data generated via myriad sources can be of various types. Here are some of them:

Marketing data: This type of data includes data generated from market segmentation, prospect targeting, prospect contact lists, web traffic data, website log data, etc.

Consumer data: Data transmitted by customers including, banking records, banking data, stock market transactions, employee benefits, insurance claims, etc.

Operations data: Data generated from a set of operations such as orders, online transactions, competitor analytics, sales data, point of sales data, pricing data, etc.

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