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Get Help In Business Intelligence with Power BI
Now a day’s companies have lots of data and needs to manage these data and needs to understood the importance of enforcing achievements of the goals defined by their business strategies through business intelligence concepts. It describes the insights on the role and requirement of real time BI by examining the business needs. The paper explores the concepts of BI, its components, emergence of BI, benefits of BI, factors influencing BI, technology requirements, designing and implementing business intelligence, and various BI techniques.
Business intelligence tools
There are different business intelligence tools which is used to give you the insights you need to achieve things like growth, resolve issues that are urgent, collect all your data in one place, forecast future outcomes and so much more.
SAP Business Intelligence
SAS Business Intelligence
Microsoft Power BI
Why It necessary for you?
There are many use and application of business intelligence in real life:
With BI, solve many business issues, like increase response rates from direct mail, telephone, e-mail, and Internet delivered marketing campaigns.
With BI, firms can identify their most profitable customers and the underlying reasons for those customers’ loyalty, as well as identify future customers with comparable if not greater potential.
Analyze click-stream data to improve ecommerce strategies.
Detecting warranty-reported problems to minimize the impact of product design deficiencies.
Discover money-laundering criminal activities.
Analyze potential growth customer profitability and reduce risk exposure through more accurate financial credit scoring of their customers.
Determine what combinations of products and service lines customers are likely to purchase and when.
Analyze clinical trials for experimental drugs.
Set more profitable rates for insurance premiums.
Reduce equipment downtime by applying predictive maintenance.
Determine with attrition and churn analysis why customers leave for competitors and/or become the customers.
Detect and deter fraudulent behaviour, when credit or phone cards are stolen.
Identify new molecular drug compounds.
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