Business intelligence for competitive advantage

The Red Dress In a world in which knowledge is power, what you don't know can hurt you. It's not so hard to find out what your rivals are up to. Some savvy and perfectly legal snooping—otherwise known as competitive intelligence—can drive your strategy, soothe your fears about the future, and give your company a competitive edge.

Business intelligence for competitive advantage

The collected data may focus on a specific department, or give an overall view of the company's status. Large corporations with huge amounts of data to process are most likely to benefit significantly from business intelligence, though smaller concerns use it, as well.

Business intelligence may help a company identify its most profitable customers, trouble spots within its organization, or its return on investment for certain products.

Benefits and Advantages of Business Intelligence Systems

Although a companywide business intelligence system is complex, costly and time-consuming to establish, when implemented and used correctly, its benefits can be significant. Fact-Based Decisions Once a company-wide business intelligence system is in place, management is able to see detailed, current data on all aspects of the business -- financial data, production data, customer data.

They can read reports that synthesize this information in pre-determined ways, such as current return on investment reports for individual products or product lines. This information helps management make fact-based decisions, such as which products to concentrate on and which ones to discontinue.

Business intelligence for competitive advantage

Improves Sales and Negotiations A business intelligence system can be a valuable asset to a company's sales force because it provides access to up-to-the-minute reports that identify sales trends, product improvements or additions, current customer preferences and unexplored markets.

Detailed and current data is also a valuable backup to negotiations with suppliers or other vendors.

Benefits of Business Intelligence - 2, Projects Analyzed

Eliminates Waste A business intelligence system can point out areas of waste or loss that may have previously gone unnoticed in a large organization. Since a companywide business intelligence system works as a single, unified whole, it can analyze transactions between subsidiaries and departments to identify areas of overlap or inefficiency.

It helps decision makers act swiftly and correctly in response to opportunities; helps the company identify its most profitable customers, as well as potentially profitable customers; and assess the reasons for customer dissatisfaction before it begins to cost them sales.As the primary competitive advantage business intelligence should deliver an increase in the understanding of the forces shaping markets and businesses, and help companies to act on that knowledge.

Ultimately, the hope is to be able to outsmart and out-deliver competitors, while proactively addressing customer needs.

Master of Science in Computer Information Systems concentration in Database Management & Business Intelligence. Students pursuing the Master of Science in Computer Information Systems concentration in Database Management & Business Intelligence will gain extensive hands-on experience with SQL using the Oracle and other leading DBMS and data mining tools. Governments and enterprises can use business intelligence (BI) and data analytics to achieve real competitive advantage in uncertain economic times when budgets are being squeezed, according to attendees at CIO’s roundtable “Creating an intelligent information business.”. Businesses can gain a competitive advantage by utilizing Business Intelligence effectively. See BI stats in this infographic.

But the way the Seattle entrepreneur sees it, the most valuable business training he ever received was a two-week course he took at the Academy of Competitive Intelligence in .

Master of Science in Computer Information Systems concentration in Database Management & Business Intelligence.

The Advantages of Business Intelligence | urbanagricultureinitiative.com

Students pursuing the Master of Science in Computer Information Systems concentration in Database Management & Business Intelligence will gain extensive hands-on experience with SQL using the Oracle and other leading DBMS and data mining tools.

Business Intelligence System: A New Tool for Competitive Advantage [Benjamin Gilad] on urbanagricultureinitiative.com *FREE* shipping on qualifying offers. Book by Gilad, BenjaminAuthor: Benjamin Gilad. The purpose of this study is to better understand how the quality of a Business Intelligence (BI) system improves the diagnostic and interactive dimensions of management control systems (MCS), thereby enhancing performance measurement capabilities, which in turn are positively associated with competitive advantage.

But the way the Seattle entrepreneur sees it, the most valuable business training he ever received was a two-week course he took at the Academy of Competitive Intelligence in Cambridge.

The Advantages of Business Intelligence | urbanagricultureinitiative.com