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(1) What should companies do to adapt or address Business Intelligence? (2) Provide Real world example...

(1) What should companies do to adapt or address Business Intelligence?
(2) Provide Real world example of a company using the approach mentioned above.

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Question 1

Business Intelligence

Business intelligence means the set of technologies and strategies that a company used to analyze the data available for the creation of a knowledge base that helps in predicting business trends. Business intelligence helps a business organization in supporting its growth and development. It enables an organization in making data-driven decisions. It reveals the ways in which the company could increase its profit. A comparison of the business results of various firms could be done in an easy manner with the assistance of business intelligence. It also helps in tracking business activities on a regular basis.

The following things can be done by a company to adopt Business Intelligence.

  • Firstly the organization must formulate objectives behind the intended business intelligence strategy of the organization.
  • Then the organization must create a core team for the development and implementation of the business intelligence strategy.
  • Then the company must determine the information that needs to be collected with the assistance of the business intelligence strategy.
  • Then the organization must find out a technological solution for facilitating the business intelligence strategy.
  • The company must also review the business intelligence strategy on a regular basis.

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keosha answered 2 months ago
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