Business Intelligence or BI is an important term for every business which is related to analyzing data. Business intelligence helps in more informed and better decision making. Data mining, online analytics, querying, report generation and analysis are some activities of business intelligence.
Business Intelligence is very important to find out new business opportunities and performance evaluation. Most of the industries including car rentals are using various BI tools and methods. Business Intelligence software assist in managing and utilizing business data which helps in taking better decisions.
Importance of Business Intelligence for Car Rentals
Like every other business, car rental industry is also full of challenges and competitors. In order to survive and perform well, it is important to look closely at the operations, decisions taken by the management and its impact. Now rental companies are adopting new technologies and tools to evaluate their data in the best way and business management tool is also one of them.
For a car rental company, business intelligence is a way to analyze the rental data, turnover, reservations, future scopes, etc. It helps to solve the challenges faced by the industry and enhancing customer insight.
Business Intelligence Tool of MyRent Software
As we discussed earlier also, there are many BI software available in the market and MyRent BI is one of them. You get this tool automatically with MyRent car rental management software.
This BI tool is integrated with the MyRent software and helps a rental manager in getting all the reports and statistics of the business. Here are some of the major features of the MyRent BI tool-
- Analyze usages for every vehicle.
- Analyze the turnover for a single location as well as for multiple locations.
- Check the number of rental agreements and the number of bookings.
- Check the number of sold rental days.
- Filter every information / data by location, reservations sources and categories.
- Check the number of cars occupied in a day and for a location.
All this information is very useful for the car rental business to take better decisions in the future and organizing internal movements. You can create a detailed report by using the information gained by MyRent BI tool. If you want more details about MyRent Business Intelligence tool and MyRent Software, you can contact us or visit at our website. Stay in touch with us for more information about our software and car rental business.