Outstanding detail and depth. You wrote: In conclusion, business intelligence pl
ID: 413588 • Letter: O
Question
Outstanding detail and depth.
You wrote:
In conclusion, business intelligence plays its role as knowledge management tool to give benefit to the financial sector which always has fast-changing market and vast-amount of data. The business intelligence plays role to extracting the hidden patterns and valuable information from internal and external source of data.
What business uses BI the best from your perspective? Which companies could use it more? Amazon and Google are companies that I believe use BI most often and effectively. I believe hospitals could use BI better to prevent illness and find cures faster.
Explanation / Answer
Answer: The BI is a very important tool which can help the companies to gather information about the customers and their behaviours. There are many industries where the consumer behaviours tend to change rapidly and the information about the customers need to be collected and analysed frequently. Some of these industries include online retailing, financial organizations, fashion industry, hospitals and so on. Mostly the online retailers like Amazon and e bay use BI most frequently and efficiently in order to study the behaviour and purchase patterns of the customers who visit their websites. The companies like the hospitals, financial organizations and the fashion houses can use the BI more for understanding the consumer behaviour in a better way.
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