Business Intelligence

1. Business Intelligence Core Subject – 15 Unit Credits

2. Lecture 16 • Evaluation criteria : Enhanced or improved operations (of BI). Eg: more efficient, faster results ,more user-friendly, higher productivity, extended target audience, more competitive, more profitable, improved customer service.

3. Improve Operational Efficiency • Case study sample: The Jefferson Medical Center didn’t have a way to measure employee productivity.They wanted to improve patient care while lowering the costs, and an effective measure of productivity was the key. Their only measurements were mainly financial stats. • They decided to implement a BI system, that helped them pull data from their patient accounting software, payroll software, and many others to analyze the current situation. The healthcare professionals working there started then to have access to real-time reports such as which patient is in which bed, or get weekly or monthly financial reports: the situation had greatly improved. • From there, the Jefferson Medical Center decided to go a step further. • The results? • A great number of disparities and operational issues brought could be addressed properly. For instance, comparing the number of combined man-hours needed for labour. • Ultimately, improvingoperationssaves some money that can then be reinvested in healthcare programs that benefits their patients.

4. Nimbler, Faster, Clearer BI Performance • Organizations that use analytics are nimbler, faster, and can make clearer strategic decisions. Having better data quality reporting enables the company to determine its strengths and weaknesses, identify trends and new business opportunities and avoid potential risks. • Companies can find the root causes of problems and take immediate, corrective action quicker than an organization without a centralized hub for its disparate data sources. • With the proper data warehouse tools, historical or legacy system data can be integrated into the centralized data warehouse efficiently. Selecting the right tool can also help increase ease-of-use, empower end-users without IT support and decrease downtime during implementation and maintenance.

5. User-friendly BI Simplifying user-friendly BI tool, companies can free up time for both end-users and the developers tasked with creating reports. When employees can run their own reports on-demand, it eliminates backlogs, ensures accuracy and allows proactive decision making. With the self-service BI solutions, the companies don’t need to deal with the colossal volume, huge variety, and extreme velocity of the Big Data. The self-service advancements and the recent developments in the field of cloud computing are greatly contributing towards increased BI awareness as well as usage. The companies always need the right data in order to make better and informed decisions, and this is what self-service BI is doing for them.

6. Finding your target audience • Companies want to research what people are saying about their company or brand and in what parts of the country or region. Business analytics offers social media analysis, you can combine with internal customer data. Then, you take it and create a profile of your current and potential customers. As a result, you can find your ideal demographic. • Comparing this demographic target with publicly available census data lets you see even more. You can identify where people are most likely to take advantage of your products or services. From there ,you can dive even more deeply into the data, researching your competition, for example. As a result, you can narrow down the area that offers the most in terms of expansion and customer potential.

7. Identify and focus on higher-profit customers. • Your best customer might not actually be the one who places the biggest order, but rather those dependable, repeat customers. With business intelligence software, you can rank your customers based on the frequency, and value of their purchases to determine exactly who the best customers are. • With good business intelligence software in place, it enable you to rank your current customers according to their relative value to your organization. • You can better target your customer-acquisition initiatives by focusing your customer-acquisition efforts around the attributes common to high-value customers. Second, you can begin to engineer your overall customer mix by targeting high-value replacements for low-value customers.

8. More competitive • BI has proven to be a competitiveadvantagefor many organizations as they look at data across the supply chain and within its many operations such as, inventory, finance, production, and other stakeholder groups.  • BI can greatly help to increase corporate reporting and overall business performance for the short and long terms.

9. Improve customer service • Customer Voice • Every time a customer makes a comment about your business on Facebook, purchase a product, clicks on an ad or interacts in any other way with your firm, BI can scoop up that information and use it to improve company’s performance. • Customer Satisfaction Once you’ve pinpointed the changes that need to be made and implemented them in your daily interactions, customer satisfaction begins to rise.

10. EXAMPLE OF ORGANISATION THAT USED BI TOOLS • Starbucks gets in on business intelligent • The Seattle-based coffee chain Starbucks is also a prominent user of BI technology. Through its popular Loyalty Card program, Starbucks is able to amass individualized purchase data on millions of customers. Using this information and business intelligence software, the large coffee company can then predict what purchases and offers an individual customer is likely to be interested in. The company informs customers of the offers it believes they will want to take advantage of via mobile devices. • This system lets Starbucks draw existing customers into its stores more frequently and increase its volume of sales. In this capacity, BI has a use similar to traditional CRM systems. In fact, many businesses choose to combine BI and CRM systems to get the most out of their data.

11. Oil Industry uses BI to reduce costs • The price of gas at the pump is dictated with the price of a barrel of crude oil. Oil Industry has found benefit in using BI to reduce their costs and raise profits. • One way oil companies use BI is with regards to marketing. The price of a barrel of crude oil can change several times throughout the day. It is important for the marketing department to know the price, in real time. With this knowledge, the marketing team can push sales when the price is high, and pull back when price is low.

12. End of the chapter REFERENCE : • https://www.ccstechnologygroup.com/real-world-examples-of-business-intelligence/ • Go.christiansteven.com • https://www.betterbuys.com/bi/leveraging-bi-to-improve-business-operations/ • https://www.yurbi.com/blog/user-friendly-bi-software-advantages-need/ • https://blog.flatworldsolutions.com/how-business-intelligence-data-becoming-user-friendly/ • https://www.b2bnn.com/2016/06/improve-business-intelligence-to-improve-operations/ • https://www.silvon.com/blog/business-intelligence-sales-marketing/ • https://www.mycustomer.com/community/blogs/larryalton/5-ways-business-intelligence-can-improve-customer-service • https://www.ibm.com/blogs/business-analytics/5-ways-business-analytics-grow-business/ • https://www.datapine.com/blog/benefits-of-business-intelligence-and-business-analytics/