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Business and Management

The Profit Impact Of Business Intelligence

Business intelligence (BI) Strengthen and improve the satisfaction and loyalty of customers. Customer information collection in many aspects could help the company to better serve their customers.

The business intelligence system provides the company an overview of customers by classifying them according to different criteria such as age, address, income, etc., so that the company can deliver products according to their customer needs.

You can choose software to optimize collective intelligence of your business in order to increase business profit.

Assess competitors, increase market share

Through the collection of information outside of the company, BI cop output reference percentage of sales, number of customers, etc. the company compared to other competitors.

If the contestant launches a certain campaign, the company can use BI to measure sales and number of customers, and then compare the level of attraction of the campaign; if the number of customers decreased significantly, but sales are not very much diminished, that means, and vice versa the competitor's campaign only attracts customers with low value.

Accordingly, the company can learn from competitors and make a plan to attract valuable customers.

In conclusion, the BI solution was brought significant benefits to companies with the ability to analyze the indicators intelligently and quickly. Prospectively, in collaboration with the appearance of ERP, CRM, BI will be the next choice of many companies in the field of management.