Business intelligence is used to
improve all parts of a company by improving access to the firm's data and then
using that data to increase profitability. Companies that practice BI can
translate their collected data into insights into their business processors.
Then the insights can be used to create
strategic business decisions that improve productivity and accelerate the
growth.
Some more potential benefits of
business intelligence tools include:
- Driving
new revenues.
- It
increases operational efficiency.
- It
optimizes internal business processes.
- It
improves decision making.
- It
is gaining a competitive advantage over business rivals.
- It
is used in spotting business problems that need to be addressed.
- It
can be used in assisting companies in the identification of market trends.
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