Identify emerging business and market trends.HR managers are better able to monitor employee productivity, labor costs and other workforce data.Supply chain, manufacturing and distribution bottlenecks can be detected before they cause financial harm.Marketing, sales and customer service efforts more effective.Monitor business performance on an ongoing basis.Universities and school systems tap BI to monitor overall student performance metrics and identify individuals who might need assistance, among other applications. In healthcare organizations, BI and analytics aid in the diagnosis of diseases and other medical conditions and in efforts to improve patient care and outcomes. BI helps retailers with marketing campaign management, promotional planning and inventory management, while manufacturers rely on BI for both historical and real-time analysis of plant operations and to help them manage production planning, procurement and distribution.Īirlines and hotel chains are big users of BI for things such as tracking flight capacity and room occupancy rates, setting and adjusting prices, and scheduling workers. For example, financial services firms and insurers use BI for risk analysis during the loan and policy approval processes and to identify additional products to offer to existing customers based on their current portfolios.
BUSINESS INTELLIGENCE APPLICATIONS EXAMPLES SOFTWARE
Rather than waiting for a quarterly or annual report, you can leverage BI software for real-time data insights.īI applications vary from industry to industry. Identifying new opportunities and implementing an effective strategy based on insights can provide businesses with a competitive market advantage and long-term stability.īI software helps companies analyze massive amounts of information and make data-driven decisions at the speed of business.įor example, you can use BI software to predict consumer buying behavior or project the financial impact of an operations decision. Business intelligence use casesīI technologies can handle large amounts of structured and sometimes unstructured data to help identify, develop, and otherwise create new strategic business opportunities. The purpose of Business Intelligence is to support better business decision making that enable organizations to increase revenue, improve operational efficiency and gain competitive advantages over business rivals. It refers to technologies, applications and practices for the collection, integration, analysis, and presentation of business information. It is a suite of software and services to transform data into actionable intelligence and knowledge. It has become a necessary tool in the era of big data.īI is a set of processes, architectures, and technologies that convert raw data into meaningful information that drives profitable business actions. BI technologies provide historical, current, and predictive views of business operations. What is Business Intelligenceīusiness intelligence (BI) comprises the strategies and technologies used by enterprises for the data analysis of business information. In this article we will talk about Business Intelligence tools, benefits & use cases.
With more and more data available, it’s getting more difficult to focus on the information we really need and present it in an actionable way and that’s what business intelligence is all about.
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