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Business Intelligence

Business intelligence, or BI, is an umbrella term that refers to a variety of software applications used to analyze an organization’s raw data. BI as a discipline is made up of several related activities, including data capture, data mining, online analytical processing, querying and reporting. Companies use BI to improve decision making, cut costs and identify new business opportunities. CIOs use BI to identify inefficient business processes that are ripe for re-engineering. We see BI as two parts, capturing, storing and organisation information. Then extracting discerning decision making intelligence from that data.

Retail are heavy users of BI software. They use BI to make strategic decisions, such as what new products to add to their menus, which lines to remove and which underperforming stores to close.

They also use BI for tactical matters such as renegotiating contracts with suppliers and identifying opportunities to improve inefficient processes. Because restaurant chains are so operations-driven, and because BI is so central to helping them run their businesses, they are among the elite group of companies across all industries that are actually getting real value from these systems.

Business Analytics is essential to the success of companies in a wide range of industries. The ability to crunch thousands of data points to provide minute by minute updates provides critical intelligence on market, product and customer patterns.

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