Business Intelligence (also known as BI) is big business. He has bought two more struggling garages and through his approach of specialisation and Business Intelligence driven decision making. As such, there is a need to know through metrics if the business solutions and intelligence applied really fits the company. Actionable information that business managers and corporate executives can access in order to make informed business decisions can affect the organization’s overall performance and growth.
It is essential for an organization to make accurate assessment of the Business Intelligence eco-system that would suit its needs. Calculations, sometimes between quite diversely held data elements, allow you to create specific ‘key performance indicators’ (KPIs) such as Profit per Customer and Revenue per Employee.
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.
As business has evolved, so too have the systems that serve this intelligence, as they adapt to these dynamic changes. This is vital because you may have built more automated decision making into your processes and you could be left with a torrent of bad decisions as a result.
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.