Business Intelligence (BI) augments an organization’s capability in decision-making and drives business growth. By providing insight into trends, patterns, and opportunities, BI can help businesses of all sizes and in different industries make data-driven decisions that lead to improved performance and competitive advantage.
BI can drill down comprehensive consumer data and streamline valuable insights. This is important for businesses dealing with heaps of complex consumer data. Drawing information from vast heaps of demographic data can not only help in achieving a customer growth volume but also position an enterprise to upgrade its value proposition.
In the retail sector, for example, BI can be used to analyze customer purchasing patterns and preferences, which can help inform product selection and pricing decisions. Big names in this sector, Amazon and Walmart have been immensely utilizing BI to analyze customer purchasing patterns and preferences. This information is then used to inform product selection and pricing decisions, leading to increased sales and customer satisfaction. This can lead to increased sales and customer satisfaction. In the healthcare industry, BI can be used to monitor and analyze patient data, helping to identify trends and potential areas for improvement in care delivery. This can lead to improved patient outcomes and cost savings.
In the financial services sector, market intelligence is readily utilized to track and analyze market trends and customer behavior. With well-devised business intelligence tools, the efforts can be augmented and further help in taking investment decisions and improving risk management. This can lead to increased profitability and reduced risk. Multinational Investment Bank, JP Morgan utilizes an amalgamation of market intelligence with data and positioning intelligence to drive their decision-making.
In the manufacturing industry, BI can monitor and analyze production data, identifying areas for operational efficiency and cost savings. This can lead to improved productivity and competitiveness. By analyzing production data and having clear transparency of the entire supply chain, companies can leverage operational efficiencies to remove bottlenecks and achieve optimal growth levels. The restaurant chain, Chipotle employs a self-service BI platform to obtain a centralized view of operations to gauge the operational efficiency of restaurants at a national scale. This reduced the speed of report delivery for strategic projects by folds thus allowing overall operational efficiency.
In the transportation and logistics industry, BI can be used to track and optimize the movement of goods and services, helping to improve delivery times and reduce costs. This can lead to increased customer satisfaction and competitive advantage.FedEx employs BI to understand its business processes and needs as well as know more about the competitor landscape.
Overall, these use case studies illustrate the diverse and powerful ways that BI can help organizations in different industries to make better decisions, drive growth, and improve performance. By harnessing the power of data, businesses can gain a competitive edge and position themselves for long-term success.
Last year, three out of every five orders placed through e-commerce platforms were transported to purchasers in Tier 2 cities and beyond.
The government of India has recently indicated that the country intends to attain a USD 5 trillion GDP by 2025
India is now witnessing one of the most vibrant consumption-led growth periods as seen in recent times.
Here’s why insurance crucial for enterprises so crucial for small and medium-sized enterprises.
The retail sector is seeing the undercurrents of change as consumers' buying preferences continue to shift quickly.
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SMEs find it extremely difficult to remain competitive in the fast-paced digital environment of today.
Ranking 4th among APAC countries and Top 10 In Global Cybersecurity Index 2020 Rankings, India has been immensely vocal about its cybersecurity ambitions.
One of the fastest growing and most complicated markets, energy markets are of major significance in the global economy.
Adaptive AI is a type of AI that can change its behavior and decision-making processes based on new information and changing circumstances.
2022 marked the highest inflation rate in some of the most advanced economies in the world.
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Companies that use market intelligence are twice as likely to outperform their competitors. Research shows that market leaders view analytics as a major differentiator.
Business intelligence (BI) refers to the collection, analysis, and interpretation of data about a company's operations, markets, and competitors.
The banking industry is undergoing a period of rapid change, driven by advancements in technology and changing customer expectations.
India assumed its first-ever G20 Presidency on 1st December 2022 and will be hosting 200 events in 32 different sectors across 50 cities until the next G20 Summit to be held in New Delhi in September 2023.
Foreign Investment channeled into Asia has reached a record high exceeding $600 billion in 2021.
Technology remains to be the biggest trend for driving business transformation
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Mobile Commerce or M-commerce is emerging as one of the most contending subsets of the E-commerce market.
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United Nations Climate Change Conference more commonly referred to as the Conference of the Parties of the UNFCCC
Companies are readily seeking to envision a strategic
The Covid-19 pandemic has been instrumental to change
In this era of stupendous globalization,
Using digital technology is no longer meant for just driving solutions
The buzz around the term ‘blockchain’ gained gargantuan momentum in recent years.
Fintech is an umbrella term for describing all sorts of
The history of banking dates back to around 2000 BCE
The global economy is currently at an unprecedented level
Including more than 20 countries, home to nearly 60%
In recent years, there has been a trend in the emergence
In the wake of global market fluctuations and geo-political tensions
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Metaverse- a term that first came up in Neal Stephenson’s 1992 science fiction novel - Snow Crash - which described life-like avatars meeting in realistic 3-D buildings and other virtual reality environments - is currently the favourite term of marketers.
Following the Covid-19 crisis, the alternative protein industry has seen a significant boost. The alternative protein market is anticipated to grow at a CAGR of 11.2% from 2020 to 2027 to reach $27.05 billion by 2027.
Historically being counted in the oil-country category, the United Arab Emirates (UAE) has been dramatically making its transition into being energy-focused yet finely attuned to technology.