Speaking on this BI triumph, the fintech CEO said, “All departments now can access their own real-time dashboards, no matter if they are in the office or at a meeting. While business analytics involves collecting, sorting and analyzing data, data visualization creates a framework that viewers can use to visualize data relationships and make decisions. Now we will take a look at our next business intelligence solutions examples focused on retail and a web-based electronics supplier. And it didn’t take weeks or months to do it, visualizations were generated with a few clicks. Without a doubt, your financial department is one of the beating hearts of your organization because, without steady cash flow and the capital to invest back into the business, the entire operation would grind to halt. This is one of our business insights examples that don’t stop here. Retail Analytics. After looking at the data on interactive visualizations that gathered historical and present information of the whole department, the manager could clearly conclude that the department was understaffed, chronically tired, and the company needs new hires or the sick days will increase exponentially, thus creating substantial business issues in the long run. Spotify and Apple Music use it in a similar capacity. A US-based e-commerce company suffered from low conversion rates, despite the fact their campaigns were monitored on a daily, weekly, and monthly basis with the help of traditional spreadsheets. Software developers often suggest companies use machine learning when they have a complex problem with many variables, have large volumes of data, and lack a mathematical equation that will provide a solution. That said, a travel-based rating business should be able to deliver an exemplary level of customer experience and support to its users. Amazon, for example, uses this type of model to suggest items to customers based on their past purchases. A rising online retail player was suffering from an inconsistent and somewhat erratic sales performance for some time and was unable to evolve its strategy despite a host of efforts. How to use IT reporting and dashboards to boost your business performance and get ahead of the competition. By Sandra Durcevic in Business Intelligence, Sep 11th 2019. By rolling out a SaaS-based analytics solution that requires minimal IT intervention and making it accessible across the organization, the travel company was able to consolidate its key data in one accessible space. A rapidly growing US-based healthcare company suffering from a raft of disjointed internal processes and commercial inefficiencies sought the power of BI in the sixth of our analytics examples. In the first of our business analytics examples, the CEO and founder of a budding fintech company was presented with the challenge of changing his business’s internal culture with a view to making all business data more accessible across the board. Companies that are integrating predictive analytics into their decision-making processes often find they can use historical data sets in ways that help detect and mitigate business risks. MathWorks, What Is Machine Learning? Forbes, “Business Intelligence and Machine Learning: Data Matters, Not Just the User Experience” Since they needed to combine multiple data sources, internal and external, a business intelligence solution was a logical step forward for implementing into their operational and strategic management. Digital data, by its very nature, paints a clear, concise, and panoramic picture of a number of vital areas of business performance, offering a window of insight that often leads to creating an enhanced business intelligence strategy and, ultimately, an ongoing commercial success. A tight-knit web-based electronics supplier that deals with a large warehouse of ever-changing stock began to feel the effects of a poor inventory management process when it began to lose track of high-value items and ensure an increasing number of in-house damages. This is much faster than the projected rate of growth for other occupations. “Predictive Analytics Terms Business People Need to Know (No Hype Allowed)”, Forbes, “Preparing Your Business For the Artificial Intelligence Revolution”, Hevo, “How AI Will Transform Business Intelligence”, MathWorks, What Is Machine Learning? To summarize our subject matter, here are the most prominent business intelligence examples that businesses use for: If you want to be a part of your own business intelligence story, you can try our online data visualization software for a 14-day trial, completely free! Datamation, “Top Predictive Analytics Examples, Analytics for Business Success” Below are just 4 examples of business analytics in the corporate world today. For example, a retailer may attempt to … By gaining self-service access to real-time analytical information the company was able to streamline its marketing and sales activities, make better, swifter decisions based on real-time information and uncover fresh insights that have served to improve its level of customer experience, resulting in increased brand loyalty. Complete the form to download your program brochure. 3 Things You Need to Know, MicroStrategy Analytics and Mobility, Data Visualization, What It Is and Why We Use It, PAT Research, What Is Predictive Analytics, PMI, ” Data Visualization for Business Analytics”, SAS, Data Management, Manage Your Data As a Valuable Resource, SAS, Data Visualization, What It Is and Why It Matters, SAS, Machine Learning, What It Is and Why It Matters, World Economic Forum, “The Value of Data”, The Role of Transportation Data in Supply Chain Management, Health Data Management: How Analytics Can Help Keep the Public Healthy and Informed.