Carrying out Business Intelligence work purely in house seems financially savvy at first glance, especially if you have a Database Administrator. Being a disruptive technology Big Data Analytics has inspired and directed many enterprises to not only take informed decision but also help them with decoding information, identifying and understanding patterns, analytics, calculation, statistics and logistics.
By being able to regularly access this information, organisations are able to monitor activities closely, providing immediate input on changes such as stock levels, sales figures and promotional activities, allowing them to make informed decisions and respond promptly.
Effective communication and interpersonal skills, negotiation skills, organizational skills, decision-making abilities, ability to manage large accounts, calculation skills, good management, and the ability to tackle emergencies and difficult situations are some of the essential qualities that one should possess.
Effective root cause analysis can only take place when all members of an organization embrace their role in the process of improving customer service and an infrastructure designed to capture and monitor customer feedback is established. Sometimes the data isn’t connected in such a way that the two sets of data can be “married” into one that helps you make better decisions.
All in all, forecasting accuracy is largely dependent on the market intelligence team of a business. Other than analytics, business intelligence is also about technology. Because of the nature of the business requirements driving these reports, they can also be used for awarding bonuses or evaluating staff for promotions or pay rises when more abundant times return.