What is Business Intelligence & How it Transforms Call Centre Industry
Business intelligence (BI) is a technology-based process for the analysis and presentation of data. It prepares the right information that assists managers in making informed business decisions.
Business intelligence tools, applications, and methodologies are of several kinds. In an organizational setup, these tools collect data from internal and external sources.
This data is then presented in the form of summaries, graphs, charts, reports, maps, and tables. Corporate decision-makers use this data to get a sense of the state of the business.
How BI works?
Business intelligence (BI) does not give directions to business owners. It does not tell them what will happen if they took a certain decision. It does not only generate reports.
Instead, business intelligence provides users a way by which they can examine data to understand trends and arrive at conclusions.
Several people in a business organization need data to perform their jobs well. Business intelligence applications reduce people’s effort in gathering, merging, and obtaining information to make the right business decisions.
The Importance of Business Intelligence
Business intelligence tools help in improving the decision-making processes. This is not only about the quality of decisions but also the time.
BI helps to optimize internal business processes, increase the efficiency of operations, drive new revenue sources, and have an advantage over the competition. Additionally, BI systems enable companies to foresee market trends and the areas of improvements.
BI can take care of historical information along with data recently generated from source systems. This gives it the advantage of helping with both tactical and strategic decision-making processes.
Use Cases for Business Intelligence
To begin with, data analysts and IT professionals used BI tools to generate reports using query results. But, the potential use cases now extend to more than only improving performance and reducing business costs.
BI systems are common in schools to examine attendance rates and student performance metrics.
Business Intelligence Tools Strengthening the Call Center Industry
Business intelligence tools are well-accepted by corporate organizations. But, very few companies accept its power in the processes of a call center.
They miss out to understand how it can improve and optimize the efficiency of this customer-centric service.
Decision-makers must understand the impact of BI systems. So, let’s take a look at how they can transform the call center industry.
1. Efficient use of data
Call centers generate large amounts of data every minute. With BI systems, all this information is stored in databases for further processing. It is analyzed using advanced programs resulting in an understanding of patterns and trends.
In the absence of proper BI systems, data is just going to waste. Managers must use this resource carefully and strengthen various areas of operation.
The research concludes that very few call centers have implemented BI systems and applications. This means that its advantage is not leveraged. Business intelligence solutions help to identify opportunities for improvement.
They can significantly accelerate the decision-making process. They can also improve the accuracy of decisions with valuable piece of information.
2. Improve Overall Business Operations
Call center managers understand the impact of business intelligence on their operations. But what they miss out on is the ability of these solutions to provide insights for other teams and departments.
Some of the advanced BI tools can process detailed reports and assist with strategic planning. This information is valuable for sales, research and development, marketing, and also operations.
Customer service channels can also benefit from the solutions provided by business intelligence programs.
Call centers must appropriately analyze customers and agents to stay prepared for problems. They need to understand what kind of data is important and how to use customer data.
Businesses can improve their multichannel experience if they have the right data in their hands at the right time.
3. Valuable Insights from Recorded Calls
Generally, call centers have basic business intelligence tools. These are similar to call accounting software to record only the frequency and duration of calls. This insight can help to analyze agent performance and productivity but it cannot determine certain shortfalls.
Advanced BI systems have an additional feature of call recording. It gives businesses the opportunity to analyze the voice of customers and accordingly train call center agents. A single recorded call can help with identifying the problem and thereby altering the quality assurance process for better results.
The amount of data available with the company does not matter. It is the insight that is generated from this data that helps to create value.
BI allows business managers to view data in an organized manner. This is one of the major advantages. In just a few clicks, custom reports can be prepared and the need to manually look through large amounts of data is eliminated.
Business conclusions can be taken quicker with reports delivered in real-time. The required information is easily available in an easy-to-understand manner.
5. Regular Review
When a BI system is implemented at a call center, areas of improvement are identified. Strategies and tactics that need to be deployed to improve performance are also drawn.
A visual overview of the data gives a clear picture of what’s working and what is not. The necessary changes are easier to notice than before.
BI analytics also show the changes in performance after the new strategy is implemented. This is vital as call center managers get an idea of the steps they need to take to optimize operations.
There are several ways by which a call center can optimize its operations. However, BI tools and applications have become an important game changer.
BI technology helps to make data-driven decisions that allow an organization to work to its full potential. These advantages make the implementation of BI technologies important for the call center industry.
So, if you have not yet introduced business intelligence tools in your call center, the time for you to take this revolutionary change has arrived.