What is External BI?
Today when we are talking about traditional BI, the decision data is targeted internally within an organization. We mainly talk about traditional BI regarding those in your organization with positions that make strategic decisions for your business through the analysis of data. The analysis is only used within your organization, and not performed externally. External BI refers to the use of information and data to be presented outside of your organization to customers, suppliers, members, partners and more.
Business Intelligence (BI) dashboards and apps have assisted business leaders to make good strategic decisions based on insights gathered from their data. Recently, the BI concept has expanded beyond the internal audience of an organization to help and generate value for customers and business partners.
The ability for external partners to access information is an increasingly common expectation from customer and partner relations, as there is a growing desire to gain information based on the interaction that occurs between companies. Now more than ever, information should be informative and transparent.
Externally directed intelligence increases confidence and can strengthen your relationships with customers, members, suppliers and partners. It is an effective method to create value and enhance your business and operations.