A Collections Business Guide to Choosing the Perfect Business Intelligence Platform
- June 6, 2023
- Category: Business Intelligence
Collections organizations generate a vast amount of data from various sources each year; however, a significant portion of this data remains unused in its raw form. This data, whether structured or unstructured, is collected from diverse sources such as customer surveys, contact forms, speech analytics, and voice and text interactions (including call center interactions, SMS, chatbots, and more). Interestingly, collections organizations of any size can leverage this data to revolutionize their operations. By employing data analytics and business intelligence tools to analyze raw data from multiple sources, collections companies can identify collections trends and even make predictions.
What Sets a Great Business Intelligence Solution Apart
To successfully implement business intelligence (BI), selecting the right platform is crucial. An ideal BI solution integrates business analytics, data mining, data visualization, tools, and best practices to empower organizations in making more data-driven decisions. This holistic approach provides a comprehensive view of the business, facilitating better, actionable decision-making.
Features to watch out for
When choosing a platform, it is important to consider key features that would be most beneficial to your business. To assist you in finding the best solution for your specific needs, we have created a BI buying guide. It offers expert tips to help you understand your user requirements, consider integration considerations, recognize the significance of reliable support services, and weigh other important factors before finalizing your decision. If you have narrowed down your search to the final two contenders, you can utilize our checklist by clicking here.
By carefully considering these factors and selecting an ideal BI solution, you can unlock the full potential of your data and drive meaningful improvements in your operations.
To encourage further learning on collections technology and business intelligence, we’ve also compiled lists of further learning resources. If you want to dive deeper into the theory and practice of BI, take a look at our list of the best BI blogs here.