BI provides many benefits to companies utilizing it. It can eliminate a lot of the guesswork within an organization, enhance communication among departments while coordinating activities, and enable companies to respond quickly to changes in financial conditions, customer preferences, and supply chain operations. BI improves the overall performance of the company using it.
Information is often regarded as the second most important resource a company has (a company's most valuable assets are its people). So when a company can make decisions based on timely and accurate information, the company can improve its performance. BI also expedites decision-making, as acting quickly and correctly on information before competing businesses do can often result in competitively superior performance. It can also improve customer experience, allowing for the timely and appropriate response to customer problems and priorities.