Business intelligence aims to help companies make better decisions when it comes to handling their businesses. A key component to a good business intelligence system is a collection of dashboards that visualize and make sense of a vast array of corporate, public and third party data. It has delivered proven solutions to access relevant, reliable, consistent information throughout the organizations assisting them to make the right decisions and achieve sustainable performance improvement as well as mitigate risks.
They can utilize the data to gather, learn, and understand Customer Behavior along with many other factors before taking important decisions. Thus, personalized analytics is going to be the most significant business intelligence trend that the industry will notice.
In a business perspective, emphasis should be placed on the identification of the correct relevant data sources, the granularity of the data to be extracted, possibility of data being extracted from identified sources and the confirmation that only correct and accurate data is extracted and passed on to the data analysis stage of the BI process.
This takes into consideration different aspects of customer’s susceptibility to churn, including the history of people those who have churned in the past and build a data model that generates an easy-to-understand reference numbers (scores) assigned to each customers.
We’ve given you a general overview of what Business Intelligence is, and how it can help give you back control of your life and your company. The most widely referred explanation of competitive intelligence, is the acquisition of publicly available information of the competitors of an individuals company to gain a distinct advantage in business.