Identifying new opportunities and implementing an effective strategy based on insights can provide businesses with a competitive market advantage and long-term stability.
Identifying new opportunities and implementing an effective strategy based on insights can provide businesses with a competitive market advantage and long-term stability.This is made possible through Business Intelligence (BI). BI comprises of the strategies and technologies used by enterprises for the data analysis of business information. The BI technologies provide historical, current and predictive views of business operations. Common functions of business intelligence technologies include reporting, online analytical processing, analytics, data mining, process mining, complex event processing, business performance management, benchmarking, text mining, predictive analytics and prescriptive analytics.
BI technologies can handle large amounts of structured and sometimes unstructured data to help identify, develop and otherwise create new strategic business opportunities. They aim to allow for the easy interpretation of these big data.You can leverage your business decisions with BI in terms of operation and strategy. Basic operating decisions include product positioning or pricing. Strategic business decisions involve priorities, goals and directions at the broadest level.
If you are a growing business planning to go bigger, Business Intelligence is for you.