How Self-Service Business Intelligence Is Quietly Revolutionizing Industries

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Imagine walking into a gourmet kitchen where all the ingredients are laid out for you, and you’re free to cook up any dish you like. That’s what self-service business intelligence is doing for industries—it’s giving them the tools and data to whip up insights and strategies on their own terms. No longer do you have to wait for a specialized chef, or in this case, a data analyst, to serve you. As a result, decisions are made easier and faster, transforming the way businesses access, analyze, and use data. 

This shift isn’t just speeding up decision-making, however, it’s also leveling the playing field. Now, even smaller teams without a data expert on staff can make data-driven choices. Democratization of data is changing not just how decisions are made, but who gets to make them, shaking up traditional hierarchies and opening new doors for innovation.

What is self-service business intelligence?

Self-service Business Intelligence (BI) is a technology-driven approach that empowers non-technical users to access and analyze data without needing specialized IT support. It provides a range of tools and features for data visualization, ad hoc queries, and report generation, enabling individuals to create valuable insights and make data-driven decisions efficiently.

Self-service BI enables non-technical users to:

  • Access, analyze, and visualize data independently, without relying on IT departments
  • Use features such as ad hoc queries, data visualization, dashboard creation, and report generation, all offered by self-service BI tools
  • Generate valuable insights efficiently and conveniently
  • Effortlessly connect to various data sources, including databases, CRM and ERP systems, on-premise systems, finance, and marketing automation tools 

The advantages of moving to a self-service BI model are substantial. This approach allows employees to make informed decisions on their own, reducing reliance on IT teams. As a result, companies avoid the financial burden of building data warehouses and purchasing related licenses. It’s important, however, to maintain data quality to avoid errors or inconsistencies, especially when different users might be working with varying versions of the same data.

The old way vs the new way

Before the advent of self-service BI, businesses relied on traditional BI methods, which required IT or business intelligence teams to manage data. The older approach often led to delays in obtaining insights and decision-making based on outdated information. Data access requests would pile up for weeks, waiting for manual approvals and prioritization. The number of inbound work requests overwhelmed data teams. It was a mess—and still is for many organizations that haven’t adopted self-service paradigms.

The rise of self-service BI, however, allows users to make their own reports and dashboards without needing IT’s help. No code, no SQL training—just access to the BI tools. The shift from traditional BI methods to the more user-friendly self-service approach has fundamentally changed how businesses interact with and use data.

Self-service BI allows many users to:

  • Interact with, structure, and disseminate data
  • Facilitate impromptu analysis and reporting
  • Speed up the decision-making process
  • Foster collaboration among team members
  • Lead to better business outcomes

The democratization of data through self-service BI is not just a trend, it’s a fundamental change that’s here to stay, reshaping the landscape of business decision-making. Companies that adapt to this new way of interacting with data are better positioned to innovate, react quickly to market changes, and ultimately, succeed in an increasingly data-driven world.

Why industries are switching

Industries across the board are recognizing the value of self-service BI and making the switch to enjoy its numerous benefits. Some of the reasons driving this transition include:

  • Cost-effectiveness
  • Speed
  • Flexibility
  • Collaboration
  • Employee empowerment

Let’s further examine each of these advantages and understand their contribution to the adoption of self-service BI.

Cost effectiveness

When it comes to making the most of your budget, self-service BI hits the mark. One of its standout benefits is how it can save your company money in several ways. It offers the following advantages:

  • Eliminates the need for expensive data warehouses and IT resources, reducing infrastructure and licensing costs
  • Enables users to perform ad hoc analysis, quickly identifying areas of waste and inefficiency
  • Leads to additional cost savings

The cost-effectiveness of self-service BI appeals to businesses big and small. By letting users handle data on their own through self-service analytics, companies can free up IT resources for other vital tasks, leading to more efficient and positive business results.

Speed and flexibility

Another advantage of self-service BI is its speed and flexibility. Thanks to real-time data analysis and automated processing, it lets users access and analyze data fast, speeding up decision-making.

The enhanced speed and flexibility allow companies to quickly adjust to market conditions and take advantage of emerging trends. We cannot overstate the positive effect of this agility on business. By giving users the tools and access to make data-based decisions, companies stay a step ahead and maintain their competitive edge in a fast-changing market.

Collaboration and sharing

Self-service BI also plays a key role in boosting teamwork and data sharing among users. By providing real-time access to data and insights, self-service BI tools make it easy for team members to communicate and work together. Users can effortlessly share insights and collaborate on analyzing data, resulting in better-informed and more cohesive decisions.

Enhanced teamwork and information-sharing create a chain reaction across the business. By pooling their expertise and knowledge, team members can collectively identify opportunities for growth and drive the organization toward success.

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Empowering employees

One of the most significant benefits of self-service BI is how it empowers employees. With the right tools to access and analyze data, employees can make their own data-based decisions. Not only does this empowerment create a culture focused on data, it also increases employee happiness and engagement.

Additionally, empowered employees are more likely to take ownership of their work, resulting in improved performance and increased job satisfaction. Businesses that harness the power of self-service BI cultivate a highly engaged workforce that can drive innovation and growth.

Industries making the leap

As self-service BI continues to gain traction, multiple industries are embracing its transformative potential. Industries making the move to self-service BI include:

  • Healthcare
  • Retail
  • Manufacturing
  • Finance

Each of these industries has adopted self-service BI in unique ways. From streamlining operations to making faster, data-driven decisions, these industries have found diverse and impactful ways to benefit from self-service BI.

Healthcare

The healthcare sector is using self-service BI to improve patient care, make better use of resources, and spot trends. With real-time data at their fingertips, healthcare pros are able to make smarter choices about how to care for their patients and where to put their resources. The ability to quickly access BI boosts both patient results and cost efficiency.

In addition to its impact on patient care, self-service BI also empowers healthcare providers to detect trends in patient demographics, treatment protocols, and outcomes. By staying ahead of these trends, healthcare organizations can adapt their services and strategies to better serve their patients and communities.

For instance, during the COVID-19 pandemic, healthcare staff without specialized IT skills used self-service BI tools to track crucial metrics like bed availability, ventilator use, and staffing levels in real time. The ease of use promoted quick decision-making, enabling hospitals to adapt swiftly to changing conditions. It also ensured patients received the care they needed while effectively managing resources.

Retail

The retail sector is tapping into self-service BI to make smarter, faster decisions in various areas of their business. In particular, self-service BI allows retailers to:

  • Manage their inventory more effectively
  • Reduce the risk of stockouts and overstocks
  • Achieve cost savings
  • Meet customer demands
  • Maintain a competitive edge in the market

Think about a local coffee chain with multiple locations. They roll out self-service BI tools that let store managers track sales data in real time, right from their tablets. Managers can see which drinks are hot sellers and which promotions are flopping, all without needing a data analyst to pull the numbers. The quick access to data helps them make fast decisions, like offering a happy-hour discount on slow-moving items. That’s self-service BI turning real-time insights into better business.

Manufacturing

Manufacturing is another industry that is reaping the benefits of self-service BI. By providing real-time data and insights, self-service BI enables manufacturers to optimize production processes, reduce costs, and improve product quality.

For example, a mid-sized manufacturing company gave their floor managers access to a self-service BI dashboard. The dashboard tracked production speed, equipment health, and inventory levels. The floor managers didn’t have to wait for the IT department to run complex reports. Instead, they tweaked the production process on the fly, leading to less downtime and more output.

In addition to streamlining production processes, self-service BI allows manufacturers to identify areas of waste and inefficiency, leading to significant cost savings. Manufacturers also use self-service BI to detect areas of improvement in product quality, ensuring that they consistently deliver high-quality products that meet customer expectations.

Finance

The finance industry leverages self-service BI to streamline risk management, fraud detection, and financial planning. By equipping financial professionals with real-time data and insights, self-service BI enables them to make informed decisions about investments, resource allocation, and risk mitigation strategies.

Imagine a regional credit union that rolled out self-service BI dashboards for its financial analysts. Now, they can pull up real-time credit risk profiles or investment performance without waiting for IT to generate reports. This quick access led to faster, more accurate loan approvals and better investment decisions.

Besides making better decisions, self-service BI helps finance pros spot and stop fraud, keeping their money moves safe and sound. All in all, it gives the finance world the tools they need to handle a financial scene that’s getting more complicated by the day.

How Revelate advances self-service business intelligence

Revelate leads the pack in advancing self-service BI by offering an easy-to-use platform that’s packed with powerful features, seamless integration, and robust security. The platform gives users the tools to make smart decisions based on data. With its self-service BI features, businesses can fully tap into their data to spark new ideas and grow. It’s not just about the tools; it’s about the whole package Revelate offers.

Revelate offers a complete self-service BI solution, setting businesses up to really use their data. By implementing self-service BI, companies can tackle today’s data challenges and plan for future wins.

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Frequently asked questions

What is the difference between self-service business intelligence and business intelligence?

Self-service business intelligence provides greater flexibility and personalization in reporting, as business users can create reports and dashboards tailored to their specific needs. Traditional BI, however, requires a more structured approach and usually a dedicated team of specialists to create data models and analyses. Self-service BI also tends to be more cost-effective than traditional solutions.

What are the benefits of self-service business intelligence?

Self-service BI tools provide an intuitive user interface for users to easily access and analyze data and create actionable reports, without needing any technical knowledge. This access allows everyone within an organization to benefit from the insights of Business Intelligence software.

What is a self-service business model?

Self-serve (or product-driven) sales is a business model whereby customers help themselves to the products they wish to purchase, eliminating the need for a salesperson.

How to enable self-service analytics and business intelligence?

To enable self-service analytics and business intelligence, one should identify success requirements, invest in a modern BI platform, build key reports, and then scale at their own pace.

What challenges should be considered when implementing self-service BI?

When implementing self-service BI, it is important to ensure data quality and security, as well as provide adequate training to users.