Question

outline five points that business intelligence reveals to a business?

Answer 1

1) Improving The Decision-Making Process

One of the primary benefits of BI is the ability to make better and more valuable decisions, and this business intelligence example is based on that very idea.

2) Uncovering Fresh Business Insights

The second one is focused on discovering new business insights that can ultimately help streamline commercial processes, thereby improving productivity and boosting the bottom line.

3) Boosting Productivity

In the third one is, a hotel rating company based in Berlin turned to business intelligence analytics software as its data was fragmented, diluting its impact across the company, impairing its productivity and service levels as a result.

By rolling out a SaaS-based analytics solution that requires minimal IT intervention and making it accessible across the organization, the travel company was able to consolidate its key data in one accessible space.

4) Increasing Sales

Number 4 is to demonstrate that by using big data analytics to your advantage, you can increase your sales which is one of the primary aims for all business worldwide. By taking advantage of well-established sales KPIs, each business can improve its bottom line.

5) Improving Financial Efficiency

Without a doubt, your financial department is one of the beating hearts of your organization because, without steady cash flow and the capital to invest back into the business, the entire operation would grind to halt.

The fifth one is focuses on evolving a company’s business intelligence to identify potential cash flow issues and improve financial efficiency. In this scenario, a disease diagnostics brand turned to an online reporting software and business intelligence methodologies as, despite a period of rapid growth, the company’s percentage collections were low, and accounts receivables, as well as claim denials, had reached a record high.