Making informed decisions using business intelligence and analytics
W.J.Chen 11000066R1 Visits (2024)
To succeed in business today, companies must focus on their bottom line and turning a profit. Though businesses are willing to spend money as long as it makes them money, they face the challenge about knowing where to invest, what opportunities to pursue, and how to ensure a high return on investment.
Making an informed decision comes down to having the right data and analyzing it effectively; in other words, business intelligence and analytics. With good business intelligence, organizations can be efficient, agile, and informed risk takers. Organizations can streamline operations, looking for any areas for cost savings. They can identify and respond to business trends quickly, whether it is for understanding customer behavior or understanding key business metrics to realize new opportunities. Just as importantly, organizations can leverage business intelligence to predict future performance and identify new opportunities for a product or the potential cross-sell or up-sell of existing products.
To fully leverage this competitive advantage, there is a renewed focus on combining real-time data with historical data to allow executives and front-line employees to make informed decisions more quickly and with a higher degree of confidence. Instead of basing decisions on what was, today’s business analytics can provide a picture of what was, what is, and what could be. IBM
IBM is unique in developing an enterprise class big data platform that allows you to address the full spectrum of big data business challenges. The platform blends traditional technologies that are well suited for structured, repeatable tasks together with complementary new technologies that address speed and flexibility and are ideal for ad hoc data exploration, discovery and unstructured analysis.
For more detail about the technology for business intelligence and analytics, see Leve