Business Intelligence provides an extensive amount of knowledge to businesses because it allows them to gather and analyze information that can help dictate future plans and decisions. It plays a key role in helping businesses assess their strengths and weaknesses and eventually decide on the next best steps moving forward. TriForce Media provides Business Intelligence service that is top-notch and guaranteed to be effective!
What is ‘Business Intelligence’
Business Intelligence is the process of manipulating raw data into meaningful information for your business.
Business Intelligence is evolving at an exponential rate. With the rise of analytics, even the smallest of businesses can accumulate large amounts of data. Data mining is also higher demand than ever before, along with process mining, and complex event processing. The latest trend in the business intelligence scene is predictive analytics and prescriptive analytics; which involve analyzing historical business data to predict customer behavior and identify patterns for exploitation.
When consumers purchase something, they always leave a paper trail of information via receipts. Receipts tell businesses something about the amount, the quantity, and the quality of the products that customers prefer over a given period of time. The receipts are audited and gives the overview in a larger scale how many are left in the storage facility. How popular is the certain product this month, or in any given time. What’s the most popular color? How many men or women buy these products? How many men or women don’t buy this certain product?
This can work with both large and small scale businesses. However; when you start looking at huge amounts of data coming in everyday, then you're going to need to segregate various data-sets. This way, you're able to see trends and patterns in the data. With help from our experts and access to our tools, you'll be able make an educated decision based on the fluctuations of the brand’s popularity, age, and socio economic status of your customers.
Business intelligence allows you to analyze data and make logical decisions while also saving energy to do other things. In short, business intelligence is the process of segregating information from raw data to logical information.
Some Answers About Business Intelligence
Will Business Intelligence
provide immediate impact on my business?
Is Business Intelligence sophisticated?
5 Benefits of Business Intelligence
Acquire Customer Behavior Insight
Business Intelligence helps companies gain visibility on what clients buy and don’t buy. This helps provide essential tips towards future plans in order to gain additional profit and showcase better business performance.
Running a business is not like gambling. You can’t just follow your gut feeling or your best guess. Business Intelligence helps eliminate guessing and points toward more accurate data analysis that could lead to better decision-making.
Acquire Key Business Reports as Soon as You Need Them
Business Intelligence can help users to access reports, key business metrics and dashboards on their mobile devices. It can provide quick access to important analytical information even when on the go.
Identify Up-selling Opportunities
Business Intelligence allows companies to leverage actual customer data to refine, modify, and build predictive models. It assists sales representatives to cross-sell and up-sell products while growing the customer relationship.
Acquire Faster Answers to Business Questions
Business Intelligence can provide answers quickly. It’s better compared to spending hours reading volumes of printed reports and researching.
10 Facts about Business Intelligence
- Business Intelligence can actually predict human location 80 weeks into the future.
- Return of Investment for Business Intelligence projects can reach over 1,000%
- 75% of organizations that did not adopt Business Intelligence have been impacted negatively
- Companies that utilize analytics are 5 times more likely to make quicker, more effective, decisions.
- 250,000 people actually had their genomes analyzed using Business Intelligence tools back in 2013.
- By 2018, there is a projected $114 billion growth for the Business Intelligence market.
What We Offer for Business Intelligence
Corporate Performance Management is a Business Intelligence area that involves managing and monitoring the performance of an organization with regards to Key Performance Indicators such as return on investment, operational costs, overheard, and revenue.
Business Intelligence Analysis & Strategy are basically what makes B.I. effective. After efficient analysis, the proper strategies should then be undertaken in order move forward with better business decisions.
Application Development and Management has been a crucial part of businesses who want to improve nowadays. With more and more people delving into increased mobile use, application development has become a trend the past few years. Let us help you produce data from your apps.
Data Mining and Web Data Extraction are utilized to discover correlations and patterns in big preexisting databases. They are sophisticated forms of data search method analysis.
Data Architecture is composed of policies, models, standards and rules that actually govern data collection and also how data is arranged, stored, and integrated. It is the standard of Data Analysis.
Types of Business Intelligence
We offer an array of solutions that will enable businesses to better manage performance and make more informed decisions derived from organizational data. We are thought leaders with deep proficiency in the following areas:
- Corporate Performance Management
- Business Intelligence Analysis & Strategy
- Application Development & Management
- API Development & Custom API Scripting
- Data Mining & Web Data Extraction
- Data Architecture & Governance
- Data Formatting & Editing
- Macro Development & Management
More Facts about Business Intelligence
- The worldwide market for business intelligence has grown since 2011
- It is favored in fields of marketing, retail and financial sectors. But it is spreading quickly to other sectors.
- There should be a good communication exchange between the IT and businesses when employing business intelligence. It is not just about data gathering but also about what to do with the data and how these things are relevant to the kind of business using the BI.
- Businesses should know what the areas that really need measurement are. These areas can help navigate more growth in revenue instead of concentration on traditional information.
- Data visualization is the most popular form of business intelligence. It is up to date and accessible.
- Dashboards represent the overall view of the organization. This is what executives use to get detailed reports about their business.