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Business intelligence (BI) is a process driven by the technology used to analyze collected data, convert the data into information, and put forward detailed knowledge. The process allows managers, executives, and other business leaders to generate effective and accurate company choices or decisions faster or quicker to deliver better outcomes in the required time (Stedman, 2022). There are various uses of business intelligence in business depending on the required process. First, a company such as HelloFresh utilizes digital markets to improve conversions. The centralized business intelligence has significantly saved more than 10 hours of marketing analytics through report-process automation (“Real-world applications of business intelligence”, 2022). Second, the Coca-Cola Company has maximized its operations through automation of the reporting processes and improvement of customer relationships through mobile dashboards that operate in real-time. This has enabled the company to attain a unique competitive advantage. Third, Amazon Company uses analytics to enhance its logistics and supply chain performance.
Some of the benefits of business intelligence include delivering correct data at the required or proper time. The right or correct data is a significant factor that allows organizational leaders to arrive at effective, accurate, and quick decisions in the business environment (Stedman, 2022). Another benefit of BI is that it improves worker and customer satisfaction since the manager is able to analyze their clients’ comments which provides necessary information for their workers to promote quality service for their customers. Quality service allows for better performance of the company (Stedman, 2022). Moreover, BI can lead to increased business productivity as its tools can be utilized in the analysis and selection process, leading to faster progress of these activities compared to manual tasks. Lastly, BI improves since custom reports foster communication, enabling individuals to share their knowledge with other company workers and promoting overall organizational performance.
Reference
Stedman, C. (2022). What is business intelligence? BI defined. Search Business Analytics.
Real-world applications of business intelligence. (2022). Tableau. Web.
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