Identify any four external factors that Business Intelligence must focus on for it to be effective...

Identify any four external factors that Business Intelligence must focus on for it to be effective as a tool by which the business obtains competitive advantage.

Expert Solution

Following are the four external factors that Business Intelligence must focus on obtains competitive advantage:-

1. The most important factor is to understand the demand of the market at the current situation because on focussing on the market demand if you are able to provide those same products then it will definitely increase the sales.

2. Keep working on the reviews or rating which your customers are given on your products and try to modify or improve the quality according to the reviews so that it increases the sales.

3. Keep tracing that what's going in other organization that is related to your business because if you are to know their upcoming projects then you are able to launch the same projects in the market before then with better quality.

4. Always try to work on Price or costs of the product and try to reduce the price of the products so that your products are available in the market with lesser price than any others

venereology answered 1 year ago

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