Business Intelligence (BI) is crucial for businesses aiming to leverage data to gain meaningful insights and make informed decisions. It is an essential part of a data-driven business approach.
Business intelligence can be performed by a range of BI tools that are available in the market. By using BI tools, companies can aggregate, analyze, and visualize their data to drive strategic actions and operational efficiency.
In this article, we will briefly discuss what is BI, why it is important, and 5 real-world business examples using BI.
TLDR? Skip to the Real-World examples using BI.
What is Business Intelligence (BI)?
Business Intelligence means aggregating, arranging, and analyzing data from data sources across the organization, and performing data analytics to generate in-depth insights to let management make informed decisions for their business.
BI tools help organizations transform raw data into valuable information, enabling them to understand trends, identify opportunities, and optimize performance.
Why is Business Intelligence Important?
Data are becoming the new raw material of business. – By Craig Mundie, Senior Advisor to the CEO at Microsoft
BI is essential because it empowers businesses to make data-driven decisions, streamline operations, and improve customer satisfaction. By using BI tools, companies can uncover hidden patterns in their data and respond proactively to changes in the market.
Data analysts use Business intelligence tools and techniques to study and analyze big data from businesses that are aggregated from different data warehouses. They reach conclusions about the performance of their products in the market using data visualizations. They can also identify common areas of mistakes that can become clear through data analytics and reporting techniques applied to the raw data.
Let’s look at the top companies and businesses in the real-world that are using BI.
5 Real-World Examples Using Business Intelligence
1. Amazon
Amazon is an eCommerce website that handles millions and trillions of product profiling, inventory, and transactions every day. It needs some robust business intelligence tools in place to handle the inventories in the warehouses as well as daily sales, purchases, and deliveries all across the globe.
The different BI tools and techniques not only help with product profiling and efficient searching but also run the overall sales procedure smoothly. Separate business intelligence software eases different parts of the whole process.
2. Starbucks
Starbucks is a famous beverage chain that has used Business intelligence software tools to promote its products. They gather customer information and their likes and dislikes in terms of their favorite drinks and other ordering habits through customer relationship management (CRM) tools. This data is then aggregated into the business intelligence tool to make visualizations that help the company to design special offers for its customers.
3. Google
Google is a great example of business intelligence. It works around data and uses different algorithms that sort the bulk of data to implement the data-driven approach. It uses business intelligence tools and techniques to understand and act on data for handling user requests.
4. Twitter / X
Twitter, now called X, uses business intelligence with AI to identify and eliminate inappropriate content on its platform. AI Algorithms are used to identify almost 95% of terrorism-related Twitter accounts and then they are suspended. Business intelligence also improves the overall user experience for the platform users.
5. Facebook
Facebook is a social media website that relies heavily on business intelligence software to assemble and manage its user data. This data helps give users suggestions and feeds according to their interests and lets them experience a personalized environment.
Final Thoughts
Business Intelligence is a transformative tool for modern organizations. By leveraging BI tools, companies can gain valuable insights, make data-driven decisions, and maintain a competitive edge.
Tools like DotNet Report Builder offer comprehensive BI features that can help businesses across various industries harness the full potential of their data.
