The use of social networking and digital music technologies generate a large amount of data exploitable by machine learning, and by looking at possible patterns and developments in this information, tools can help music industry experts to gain insight into the performance of the industry. The telecom companies can increase profitability by creating a predictive modeling for identifying potential churn candidates and non-revenue earning customers; and can increase revenue and profitability by targeted campaigning and promotional offers which will not only retain these customers but also convert the non-revenue earning customers to profitable revenue earning customers.
Best-in-Class medical practices recognize the importance of these factors and have aligned resources internally or externally to provide access to more key business data, metabolize new disparate data sources quicker, and deliver valuable insights within the window of opportunity to effect positive change.
Business Intelligence tools work well and have been used to great effect by lean and fit organisations, those that have a sense of purpose and vision, that have a culture of analysing problems and doing something about them and that are prepared to invest, not just the money, but, so much more importantly, the time and effort required.
Get more intelligent about business by seeing more clearly what we have done and what has been happening around us; by predicting where trends are heading and do all this by exploiting data we already have, tools we already own and brains that have not yet been put into deep freeze.
Years back, major modus operandi of analytics was to convert information to insights in a broader manner, but and when the competition became cutthroat companies realized the value of personalized marketing which is pretty not possible in a comprehensive approach in extracting insights.