Real Life Examples of Business Intelligence BI
OK.
So let's see a couple of examples that will prove that business intelligence is fun not only in theory but also in practice.
Did you know be-I can be used for price optimization hotels use price optimization very effectively by raising the price of a room at periods when many people want to visit the hotel.
And by reducing it to attract visitors when demand is low they can greatly increase their profits in order to competently apply such a strategy.
They must extract the relevant information in real time and compare it with historical be-I allows you to adjust your strategy to pass data.
As soon as it is available.
Awesome another application of business intelligence is enhancing inventory management over and undersupply can cause problems in a business.
However implementing effective inventory management means supplying enough stock to meet demand with the minimal amount of waste and cost to do this well.
You can perform an in-depth analysis of past sales transactions for the purpose of identifying seasonality patterns and the times of the year with the highest cell's.
Additionally you could track your inventory to identify the months of which you have over or understocked a detailed analysis can even pinpoint the day or time of day were the need for a good is highest if done right business intelligence will help to efficiently manage your shipment logistics and in turn reduce costs and increase profit.
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