Business Intelligence as a source of competitive advantage.
Today’s business world is driven by the increasing amount of data that organizations and people generate on a daily basis.
This massive amount of data being generated can overwhelm business leaders. However, by taking the right approach and the right tools, companies can turn this new reality into a source of competitive advantage.
Big Data, the visualization of data tools and infrastructure, performance analysis and Business Intelligence, can help the leaders of these companies to make decisions and adopt more accurate strategies.
The so-called Business Intelligence allows to put an end to many of the problems that companies face on a daily basis. Some of the many possibilities that this tool can bring to a company are:
Analyze customer behavior
Compare your own performance with that of your competition
Detect consumer trends and behavior in the market
In short, the integration of systems with BI engines can trigger the optimization and improvement of a company’s practices. Ultimately increasing the company’s turnover, performance and employee satisfaction, and promoting the achievement of a clear competitive advantage over competitors.
One step further: Predictive analytics
Business Intelligence tools focus on the analysis of past activity, thus allowing the identification of behavior patterns that allow better decisions to be made in the present. However, there are other even more advanced analysis tools and methodologies that go a little further: Artificial Intelligence and Data Science.
Those systems that base their analyzes on AI methodologies allow, based on the analysis of historical data and various sources of information, to obtain accurate predictions about future behavior. This new behavioral predictive ability opens up a new range of possibilities for companies, who are now not only capable of improving their practices, but also of anticipating future events. Thus obtaining a response capacity and business agility impossible to achieve with Business Intelligence.
Bisiona Business Solutions S.L.
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