The blend between Information Technology and Business worlds certainly is an attractive evolution from one specialization to another (or to a new one). Company sales prosper, when there is a combination of a quality product offered, which is marketed to the right target audiences, with an aggressive sales strategy. The data can be presented to business analysts via a dashboard, a visual interface which draws data from different information-gathering applications, in real time.
These users study the pre-defined reports and provide support in taking the right decisions, but they are not obligated to take decisions. Business Intelligence techniques, if properly applied in retail Insurance marketing can lead to a situation in which each customer can feel that the insurance policy has been designed keeping his requirements in mind.
Before stepping into data analytics, the very first step all businesses must take is identify objectives. This was nothing flash a stand alone PC installed with some basic business software, which came free with a magazine, and records customer details, sales and stock.
Making the data more available to multiple business functions, assuming of course the need-to-know and relevant protections are in place, is the first step in the process. The outright hunger for information and for varied applications drives the migration from traditional BI structures to one of the new Agile Business Intelligence systems.
This has emerged from the contributions of the various areas of information such as market intelligence, competitive intelligence and business intelligence. Dashboards are tools to visually display data such as Performance Indicators and Key Performance Indicators via tables, charts, graphs, etc.