Business Intelligence (BI) has become an essential tool for companies in today’s digital age. It enables businesses to collect, analyze, and interpret large volumes of data to make informed decisions that positively impact their bottom line. In this article, we will look at three examples of international companies that have successfully implemented. Business Intelligence strategies to improve their business processes and gain a competitive edge.
The need for technology that is able to manage information more efficiently and accurately. Encourages many companies to optimize business intelligence. In its application, business intelligence has a major role for companies in producing more effective marketing and management strategies in the 4.0 era. In this article, we will discuss world insurance companies that are able to optimize business intelligence. Or analyze big data in making corporate strategic decisions.
Introduction Of Business Intelligence
Business Intelligence refers to the use of technology to collect, analyze, and present data. In a way that allows companies to make informed business decisions. By leveraging data-driven insights, companies can optimize their operations, reduce costs, and identify new opportunities for growth. In recent years, many international companies have turned to BI. To help them gain a competitive edge in their respective markets.
Business intelligence is a crucial component of decision-making for international companies. It allows companies to collect and analyze data from various sources to gain insights that can be used to make informed decisions. BI helps companies to identify trends, patterns, and relationships within their data. Which can be used to improve operations, increase efficiency, and gain a competitive edge. In this article, we will explore three examples of how international companies use BI. To improve their processes and gain a competitive advantage.
Amazon
Amazon is one of the world’s largest online retailers. And it has become a household name in many parts of the world. One of the keys to Amazon’s success is its use of Business Intelligence. To optimize its supply chain and improve its customer experience. Amazon collects vast amounts of data on customer behavior, which it uses to identify patterns and trends in customer preferences. This information allows Amazon to tailor its product offerings to individual customers, improving the overall customer experience and increasing customer loyalty.
Amazon also uses Business Intelligence to optimize its supply chain, reducing costs and improving efficiency. By collecting data on shipping times, inventory levels, and delivery routes, Amazon can optimize its logistics operations to ensure that products are delivered to customers in the shortest possible time. This not only improves customer satisfaction but also reduces costs, which allows Amazon to offer competitive prices to its customers.
Manulife
As one of the leading insurance companies operating in 22 countries, Manulife continuously strives to improve the effectiveness of its strategy. One of them is by adapting data analysis technology based on Artificial Intelligence (AI). They use it to collect and analyze various important data about customers and business competition.
Big data collected by companies, one of which is from their websites, is then further analyzed into more mature and ready-to-use data. This enables Manulife to find out more quickly various strategic data such as new trends and business opportunities and follow up on them in the next period’s strategy. The technology effectively gives companies a clearer picture of customer needs and characteristics, in a much more practical way.
Walmart
Walmart is another international company that has successfully implemented Business Intelligence to improve its operations. Walmat uses BI to collect data on its customers’ shopping habits, which it uses to optimize its product offerings and pricing strategies. By analyzing data on customer preferences, Walmart can identify which products are popular and adjust its inventory levels accordingly.
Walmart also uses Business Intelligence to optimize its supply chain and logistics operations. By analyzing data on shipping times, inventory levels, and delivery routes, Walmart can identify areas where it can reduce costs and improve efficiency. This has enabled Walmart to offer competitive prices to its customers while maintaining healthy profit margins.
AIA
If Allianz utilizes Google Analytics, AIA utilizes Microsoft Analytics. For them, it is very important to be able to analyze customer needs more accurately in the service development plan. That is why, they take advantage of business intelligence technology from Microsoft to analyze big data at any time and display it for every employee who needs it.
The use of technology, in this case optimizing business intelligence, allows AIA’s management to focus more on analytical activities. They are no longer bothered with various data collection activities as before. This ultimately supports the company to be more responsive to market changes and business competition maps. They can formulate strategies more quickly with more complex and accurate databases.
Even further than that, optimizing business intelligence also helps AIA to more easily project the future of life insurance business competition. Machine-analyzed data provides better visibility to employees, especially those working in the field. They can develop a more effective communication strategy to deal with existing and new customers and other challenges.
The various facts above show that the use of business intelligence has penetrated the insurance business sector. Even though its use is still rare, actually today’s business intelligence optimization can also be applied to hospitals. The technology will help hospital management to analyze millions of service data such as patient demographics, medical records, drug use and others. These data are then analyzed to be displayed in a simpler way. So that it is easily understood by the management team.
Gogle is a global technology company that specializes in internet-related services and products. Googl uses Business Intelligence to improve its search algorithms and personalize its search results for individual users. By collecting data on user behavior and search queries. Google can identify patterns and trends in user preferences, which it uses to improve its search algorithms.
Google also uses Business Intelligence to optimize its advertising platform, AdWords. By analyzing data on user behavior and advertising performance. Google can identify areas where it can improve its advertising products and services. This has enabled Google to offer targeted advertising solutions to its customers. Which are highly effective at driving conversions and generating revenue.
Conclusion
Business Intelligence has become an essential tool for companies in today’s digital age. By leveraging data-driven insights, companies can optimize their operations, reduce costs, and identify new opportunities for growth. The examples of Amazon, Walmart, and Google demonstrate how companies can successfully implement. BI strategies to gain a competitive edge in their respective markets.