Business Intelligence and Analytics

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Business Intelligence and Analytics Essay Before taking decisions and setting up goals, it is important for an organisation to search and investigate their past performance. This exercise will give an idea of projecting model. For an organisation it is necessary to know their capabilities and how they can use it to make maximum profit needs business intelligence and analytics. In this essay we are discussing how business intelligence and analytics is used in an organisation and their benefits. Business intelligence combines the collection of data and knowledge management with the tools of analytics to make complex data useful for the decision makers. It is mainly deal with large amount of data. This includes data mining, gathering of data, data warehousing and to think about the data . (Negash, 2004, Article 15) Business intelligence is a plan and collection of new processes and ways of performing exploration of data to support decision makers and also facilitate databases that provide organisational societies easy approach to data. (Larissa Terpeluk Moss, 2003) Advantages of using business intelligence in workplace give the opportunity to the managers to eliminate their gut feeling or guess work while making decisions. Gutt feel and experience not always gives positive result, but business intelligence provides the clear framework of what to do in the business and provide more correct results. It gives quick answers to your business questions without wasting time to go through large data. Another great benefit of business intelligence is, with the help of this tool companies can be able to know their customer needs and their behaviour which they will use to make profit in future businesses. With the help business intelligence companies are capable to modify their predictive models. It increases the efficiency of business, by providing predictive models. It gives insight to your business where your business was, where it is now and where it is going. It helps to manage inventory according to the needs of customers. Business intelligence can also be applied in routine work. Such as revenue assurance, selecting vendors, customer value, order accuracy etc. First example: Bharti Airtel Limited (Telecommunication Company) beliefs that customer is the heart of the business, they focuses on customers and their target is to provide maximum benefits and best services. If they want to give reward to top 20 customers by facilitating them one month free broadband subscription. They have to approach to previous years data. Although it is a big challenge for the company to find out best 20 customers from big data. Firstly, managers have to find out the answers of such simple questions:

  • How many workers a company have or strength of the employees?
  • For each plan, how many customers were opted within last 1 year in different regions?
  • Who are top 20 customers?
  • What is value of each customer?

It is very surprising that nobody knows the answers of these questions and even don’t have any framework for these questions.

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