18 Aug DriveRisk Business Intelligence
Over the last two years, DriveRisk has been using Business Intelligence (BI) to streamline the process of turning our data into valuable insights that help our clients make better decisions. BI has been helping our clients to better understand their data and make more informed decisions about their risk management strategies, which has been leading to some incredible results.
What is Business Intelligence?
Business Intelligence (BI) is a technology-driven process for analysing data and developing actionable insights to help businesses make better strategic decisions. At its core, Business Intelligence enables organisations to make more informed decisions by providing visibility into all areas of the business in an easy-to-understand format.
How does Business Intelligence work?
Business intelligence tools collect data from multiple sources, both internal and external to the organisation. Data is cleansed, processed, analysed and then visually represented – both in real-time and historically, providing valuable insights into business performance and efficiency trends. The provided insights can be used to improve decision-making across the business, from strategic planning to operational decision-making and driver behaviour coaching.
How DriveRisk and our clients are using Business Intelligence
At DriveRisk, we utilise BI to provide a user-friendly interface between our data and our clients. We are then able to present an interactive, useable format to our clients that outlines driving risk, creating a safe driving environment for all.
Currently, DriveRisk is utilising in-house developed BI reports to demonstrate interim performance to our clients. We have seen a very positive response from all of our clients over the last 18 months and are currently working on a standard BI report offering, that we will soon be made available to clients who wish to have direct, on-demand access to these types of insights and data. We are consistently improving our BI offering, with future developments including client-centric focussed reports.
Why DriveRisk’s clients are utilising BI
Utilising well-developed BI reports and dashboards allows our clients to extract a ‘story’ from multiple data sources, which might not otherwise provide much meaning independently. Working with raw complex data and manually deriving insights can be a tedious and time-consuming task. DriveRisk are providing the ability to automate these processes, giving a huge amount of time back to our clients, alongside valuable insights that might not have been available to them before.
Programs our clients are using with BI
At DriveRisk, we have access to a multitude of systems that generate data in many different formats. Our BI infrastructure can pull data from multiple touchpoints together and present it in a way that makes sense for our clients and is easy to digest. In addition to data and systems provided by DriveRisk, our clients are also able to utilise drive systems they already use. BI can include these outputs as additional data sources and our team can create custom and bespoke reports that include these data points also, allowing our clients to gain better insights into the overall story of our BI developments. Compatible data source types include data warehouses, spreadsheets, API feeds, data tables/cubes, and more.
Our BI developments to date have afforded us and our clients an appreciation of the importance of data to drive strategic decisions quickly. Now, many of our clients have a strong desire to encompass our data in-house for direct access on a daily and weekly basis.
We’re so excited to have Business Intelligence reporting and to be able to offer it to our clients. We will be continually improving DriveRisk’s BI development roadmap so we can offer even better insights to our clients.