Therefore, you must critically examine every aspect of your business in order to carve a niche in the highly competitive business world.Ĭompanies widely use Key Performance Indicators (KPI) in business intelligence to evaluate various aspects of a business. Effective business and marketing strategies can be planned only if you have a good deal of information about your industry, your competitors, and, more importantly, your potential customers. Similarly, companies can succeed only if they know their competitors well and understand their own potential. Sun Tzu believed a war could be won only if you were aware of the strengths and weaknesses of your enemies as well as the strengths and weaknesses of yourself. Tracing the Roots of Business Intelligenceīusiness experts trace the history of business intelligence to Sun Tzu’s “The Art of War” which depicts the central idea of business intelligence. Business Intelligence is particularly important for businesses that require lots of customer data to serve them better.įor instance, the tourism industry can greatly benefit when they have substantial information about the target group of customers, their economic level, their social status, their educational background, their cultural trends, and their the psychological motivation.īusinesses from all over the world have successfully managed to use business intelligence to realize their short-term and long-term goals and it is important that every business likewise uses business intelligence. SEO Coaching by – Online & In-Person SEO Coachīusiness Intelligence is a process used by companies to gather information from respective business fields to transform it later into knowledge that can be used to understand customer needs.
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