Why You Need Business Intelligence In Your Project Management

Managing projects is constantly dealing with massive data and information over a certain period. It is necessary, at each completion of a project, to always be sure of having done the best, but knowing that it is possible to go much further based on learning from experience.

Implementing a Business Intelligence system in project management becomes more effective as the data and information generated become an extensive repository of valuable knowledge for the entire team, which can be consulted at any time. A moment to serve as a basis for making strategic decisions during the execution of projects.

How about learning more about the potent Business Intelligence tool in project management? So check out our post right now and stay on top of this innovation:

After All, What Is Business Intelligence?

This tool consists of a set of resources, methodologies, and techniques to collect, analyze, process, and share information obtained through unstructured data inserted in CRM, ERP, Data Warehouse, and Data Mining systems, for example.

From gathering all data in a single repository, this information is confronted so that strategic evaluations can be extracted for the effective management of projects, optimizing the team’s work, and increasing the effectiveness of the activities carried out.

Why Use Business Intelligence In Project Management?

Unification Of Information

Project management becomes much easier and faster when the entire team has a single reference point for querying essential data and information. And that’s precisely what Business Intelligence provides, converging all the information generated throughout the project to favor the team’s efficiency increasingly.

Ease Of Sharing

The data collected through Business Intelligence can be easily shared with everyone involved in the project, from customers to suppliers and, of course, to the team. In this way, everyone is aware of their respective responsibilities and actions, improving communication and the performance of the process as a whole.

Development Of Improvements

Business Intelligence provides an overview of the execution of the project, being able to predict trends and patterns where eyes that are a little distracted do not see anything beyond the obvious. From this, it becomes possible to have excellent insights to develop improvements in a specific project or even the project management process.

Data Quality

Project management based on control spreadsheets can be very useful. Still, when working with a Business Intelligence system, one can see an improvement in data quality based on fidelity, which is only sometimes achieved. With separate spreadsheets and dispersed controls.

Decision Support

Making decisions in project management always requires a good assessment by the process manager so that there is no negative impact on the execution as a whole. Based on the information extracted from the Business Intelligence system, the project manager now has relevant and immediate data and knowledge to make the right decisions.

Data Security

Spreadsheets can be the domain of many, easily corrupted by errors or even by hacker invasions, which can compromise the entire project. By adopting a Business Intelligence system to manage your actions, you now have data stored in adequate security and constant backups of everything being done.

Accessibility Of Information

Reading data, graphs, and tables is only sometimes understood by everyone, right? And this lack of complete understanding can compromise the development of the team and even the clients regarding the phases of the project, the resources used, and the predictions about each stage. The reports issued by Business Intelligence make the information easier to digest, thus improving the team’s performance and communication.

Deadline Accomplishments

With well-established criteria on deadlines for ongoing projects, the team has access to trend curves. It can predict which points are subject to delay, working harder in specific periods so that deliveries are carried out on schedule.

Extra Features Forecast

As project planning only sometimes includes all the minimum requirements for its complete development, some details may go unnoticed. In this scenario, the need to hire extra resources may arise later. Whenever Business Intelligence is fed with the appropriate data, it will be possible to analyze trends and verify in advance if there is even this need, already eliminating risks immediately.

Efficiency In Project Management

Business Intelligence contributes considerably to making project management as efficient as possible in all its phases, organizing data and transforming them into ammunition so that the project manager and his team can perform their duties with greater agility and avoid waste.

Privileged Information

Data analysis done manually by people can only encompass some of the data generated in project management since there are several nuances to be verified. For this reason, adopting a Business Intelligence system in project management should be seriously considered. From the confrontation of initially unstructured data, the tool can provide privileged information to the team, improving its execution punctually and globally.

Analysis And Measurement Of Results

Every project must have performance indicators, the famous KPIs, to demonstrate the practical results that the project has been bringing to the client, showing the team’s performance in its execution. As a robust data and information processing tool, Business Intelligence allows you to monitor project performance indicators daily and analyze them so that they become essential inputs for new initiatives.

Project management is increasingly professional, and there is no way to suppress the presence of increasingly advanced technologies to support project managers and their teams. The more prepared companies are to manage their projects integrated with these systems, the better results will be reaped over time.

Also Read: How To Use The Internet In Business Management