Impact of Business Intelligence on the Logistics & Transport Industry
The modern era of the transportation and logistics industry is experiencing a digital revolution. And, the ever-increasing competition has made it difficult for transport and logistics companies to sustain profitability. With the growing competitive pressure, the industry struggles in delivering a consistent brand experience and balancing competitive pricing.
Challenges such as increasing compliance complexities, volatile fuel costs, supply chain management, and rapidly changing consumer demand have compelled companies to look out for technology solutions that can help them excel in the competitive market landscape. Moreover, growing material and labor costs along with market volatility, has enforced the logistics and transportation industry to leverage the business intelligence solutions to develop effective business strategies for growth.
Let’s read on to understand how business intelligence has proven to be a game-changer for transport and logistics:
Benefits of Business Intelligence:
1. Automated Reports reduces Labor Costs
The implementation of Business intelligence tools helps reduce human efforts and time spent on mundane tasks to extract multiple reports. It enables us to generate comprehensive reports on a daily, weekly, or monthly basis automatically without requiring to work in excel or word. Hence, reducing labor costs is considered as one of the most tangible benefits of BI application.
*Automated data collection
*Report Generation
*Reduces time spent on training staff
*Designs reports in less time
2. Information Transparency
Another significant benefit of business intelligence is that it reduces the dependencies on the team to extract data and create comprehensive reports. It enables users to create individual operation-specific dashboards based on their specific reports. Business intelligence tools define key performance indicators (KPIs) and provide other related information. It even helps analyze data and generate automated reports without any IT assistance. Hence, business intelligence solutions improve efficiency by reducing information blockages.
3. Translate Data into Actionable Intelligence
Transportation and logistics companies usually hire a considerable number of employees to work on various formats of reports to generate accurate data. Unfortunately, some reports fail to meet their deadlines, and it adversely affects business operations. Business intelligence solutions provide insightful and purposeful data through one data model, thereby preventing conflicts and incomparable report data. It provides real-time reports and information for the state of the business. Additionally, business intelligence tools enable users to spot issues in real-time and drill down to detail data in a top-down manner.
4. Effective Decision Making
Business Intelligence has a significant influence in making improved decisions for Transportation and Logistics companies by providing real-time information. It accelerates the decision-making process by keeping different data sources on a centralized dashboard. Moreover, it offers a detailed investigation with drilling down functionality.
5. Boosts Fuel Efficiency
Fuel costs play a significant role in the profitability of a fleet-based business. Business Intelligence tool optimizes routes and payload that defines the most cost-efficient route. Sensor enabled vehicles provides real-time monitoring of the entire supply chain.
Conclusion
Choosing a robust business intelligence solution that right fits your business requirements will enable you making a real difference by optimizing the business process. If you’re looking for a BI solution provider to improve your business agility and efficiency, consider hiring experienced and proficient team.
