Question

How would one define business intelligence (BI)? Identify and briefly discuss a real-world application of BI? 250 words and 2 references requires.

Answer 1

Business intelligence ( BI) can add value to almost any business activity, provide a holistic view and enable teams to evaluate their own data to identify efficiencies and make better day-to-day decisions Digital transformation is now seen as a crucial strategic strategy and business intelligence tools have developed to help businesses make the most of their data investment. The response is the emergence of digital business intelligence systems that enable data access, engagement, research, discovery, sharing and governance.

Coca-Cola Bottling Company (CCBC)- Coca-Cola's business intelligence department is responsible for reporting on all distribution and delivery activities at the company. The team automated manual reporting processes with their BI program, saving more than 260 hours a year more than six 40-hour workweeks.

Reporting automation and other business system integrations carry customer relationship management ( CRM) data back into the hands of sales teams in the field through mobile dashboards that offer accurate, actionable insights and a distinct competitive advantage. Self-service BI implementation facilitates more efficient cooperation between IT and business users, leveraging the skills of the participants. Analysts and IT should focus on large-scale approaches and long-term technologies such as corporate data governance rather than repetitive analysis and reporting activities.

Reference- Financial Times and Data Science for Business: What You Need to Know about Data Mining and Data-Analytic Thinking- Tom Fawcett