If your own a business, you know how crucial decisions are. Every decision plays an important role in the future of your business because business is based on decisions and good judgements. Managers are hired for this reason so that they can make the right choices according to their judgements and take calculated risks.
Informed decision making is an important process because it allows someone to make decisions based on past experience. But what if you could make informed decisions even on a fairly new circumstance? Enter Business Intelligence (BI); a process that analyzes the past data and processes it for presenting it into actionable information. This makes it easier for managers and other related personnel to make the right decisions for the business to go in the right direction.
BI allows organizations to reach their goals by enabling them to make informed decisions. The technology it uses is very complex and involves a lot of artificial intelligence mixed with data integration. It uses customer feedback, insights, market intelligence, competitive intelligence, sales strategy, and even your business model to develop a strategy that works for the long-term goals.
For more information on Business Intelligence, the infographic will tell you all the details you need.
Infographic by: infoclutch.com