Modern business has long encompassed a term that unequivocally includes digitalization and the use of all those tools offered by the latest information technologies. Therefore, we will interpret this topic precisely in the context of the most modern everyday life, and even the future. We have already “exhausted the pen” on the importance of information technologies in dozens of other blogs, so here we focus on business intelligence (BI), tools from that corpus, and their purpose.
Better information, faster decision-making, process optimization, increased competitiveness, predictive analytics are just some of the terms that represent the benefits of using business intelligence, and the main goal is, of course, to relieve the workforce and delegate to computers all those tasks that represent the lowest link in the business hierarchy.
Industries using BI Tools
The diversity of the mosaic offered by Business Intelligence is truly vast. Industries with completely different orientations create their stories, sticking to the course offered by BI. A tower of business opportunities rises before them, and before we turn to specific brands and the biggest global players, we would mention the direction in which to think when talking about the range of industries that recognize the importance of BI. At the heart of every good retail story, BI tools can play the role of a magic mirror that reveals customer secrets and opens doors to new trends. Through the analysis of consumer habits and sales performance, retailers conquer the market with their personalized strategies, creating a bright future for their brands. By analyzing the effectiveness of marketing campaigns and trends in the beauty world, companies from the cosmetics industry create magical formulas that win the hearts of customers around the world.
In factory halls, BI tools are the tools of sages leading production processes to top quality and efficiency. By monitoring production flows, managing the supply chain, and predicting market demands, manufacturers become creators of wonderful products that inspire generations. The benefits that can be derived from business intelligence can also be discussed when talking about healthcare, primarily through resource optimization, disease prediction, and medical data analysis. Business intelligence can also be skillfully used in finance, and when it comes to risk management and fraud detection, those who have digitized their processes are leading the way.
Google It and Rule
This company doesn’t need much introduction because to find out anything about it, you would have to use its platform. The term “Googling” has become so domesticated that it has its own conjugation in our language, so what more can we say about a company that has entered the verb except that it is undoubtedly one of the most powerful in the world. Google, as one of the leaders in the tech sector, uses Business Intelligence (BI) tools across a broad spectrum of its platforms to enhance its operations and provide more relevant services to users. Through the analysis of search data, advertising, and user activities, Google gains deeper insights into user needs and optimizes its products and marketing strategies.
BI tools enable Google to track search trends and identify key topics and interests of users. This knowledge is used to improve search algorithms, enhance the relevance of results, and personalize the search experience for each user. Also, analyzing advertising data allows Google to optimize its marketing campaigns, target the right audience, and measure the effectiveness of ads. By monitoring user activities on its platforms, Google gains insights into how users interact with their products and services. This data helps Google identify behavior patterns, improve user experience, and develop new products that meet user needs.
Other giants as examples for smaller companies
Companies like Walmart, Procter & Gamble (P&G), and Tesla use Business Intelligence (BI) tools to tailor their business strategies and products to the needs of users. Walmart relies on the analysis of sales data, inventory, and consumers to optimize the supply chain, manage inventory, and adjust marketing strategies. This allows it to efficiently manage its resources and offer users what they are looking for. Similarly, P&G analyzes consumer data, market trends, and marketing campaign effectiveness to improve consumer understanding and increase the sales of its brands. Through this analysis, P&G can identify key factors influencing consumer decisions and adjust its products and marketing activities accordingly. It is worth mentioning that P&G was founded back in 1837 to produce soap and candles. Needless to say, it found ways to adapt, as without that, who would guarantee such a path to the top and almost 200 years of existence.
On the other hand, much younger but equally significant, Tesla today also uses BI tools to analyze data on vehicle performance, production, sales, and customer satisfaction to continuously improve its products and business processes. This data helps Tesla identify areas where they can enhance their cars, optimize production, and offer better services to customers. All these mentioned companies, and many others from different sectors, demonstrate through their examples how BI tools can be used for a leap towards leadership in innovations. Before condemning the invasion of automation today and predicting with fear how robots will replace people and take our jobs, put yourself in the position of the genius who will predict and turn that social change to their advantage. Because why be the one who loses a job due to robots, when you can be the one directing the robots?
A Brand named after the most powerful river in the world
Amazon is a multinational technology company founded in 1994 by Jeff Bezos. It initially started as an online bookstore, but over the years expanded to a wide range of products and services. Today, Amazon is one of the largest e-commerce platforms in the world. Few in the digital world do not know this information, but it doesn’t hurt to remind ourselves. Amazon’s main lines of business today include e-commerce, AWS (cloud computing), digital content such as streaming video services, streaming music services, and e-book platforms – Amazon Prime Video, Amazon Music, and Amazon Kindle. Amazon also has a massive logistics base for product delivery. All of this would be hard to imagine if Amazon had not timely adapted to the changes brought by the freshest history.
As a global giant in the world of e-commerce, Amazon relies on Business Intelligence (BI) tools to enhance its operations and provide an exceptional experience to its customers. Through sophisticated data analysis about customers, Amazon deeply understands the needs and preferences of its clientele. These BI tools enable Amazon to track trends in consumer behavior, identify key customer segments, and adjust its marketing strategies to better meet their needs. In addition, Amazon uses BI tools to monitor sales and manage inventory. This analytics enables Amazon to efficiently plan its inventory, prevent product shortages, and optimize delivery logistics. Moreover, BI tools play a crucial role in personalizing product recommendations for each customer, resulting in a higher likelihood of users finding products that interest them and achieving greater satisfaction during shopping. Through this comprehensive approach to using BI tools, Amazon continuously improves its operations, creating more efficient processes, increasing sales, and fostering customer loyalty. This data analysis approach not only enhances Amazon’s performance as a retailer but also sets standards for the e-commerce industry in a global context.
Netflix – Innovation worth praising
Although Netflix reached the peak of its statistical pyramid during the COVID-19 pandemic, it should be mentioned that it was founded as a DVD rental company by mail in the USA back in 1997. Two years later, it started with monthly subscriptions, which was a significant innovation compared to traditional rental models. This change was crucial for the company’s growth, allowing users to rent movies unlimitedly at fixed prices. The next milestone was when it launched a streaming platform in 2007, enabling users to watch movies and series directly via the internet. Nowadays, Netflix is one of the leading global streaming services, available in over 190 countries, with a rich library of movies, series, documentaries, and original content. Its history is an example of how adaptation to digital transformation and innovation in business models can bring significant success in the entertainment and media market.
Netflix actively uses Business Intelligence (BI) tools to understand viewing habits and provide a high-quality personalized experience. BI tools allow Netflix to track which series and movies are popular with users, how long they watch certain content, and identify viewing patterns in different geographic regions. This data helps Netflix to tailor its content library and offer users what they love most, resulting in higher engagement and satisfaction. Moreover, Netflix uses BI tools to analyze the effectiveness of personalized recommendations. By tracking user behavior, recommendation algorithms are constantly improved, allowing Netflix to suggest content that best matches individual tastes and interests. When it comes to creating original content, Netflix also uses BI tools to analyze industry trends, user interests, and the performance of its original series and movies. This analytics helps Netflix make informed decisions about budgeting, planning, and producing new content, contributing to maintaining a high level of quality and appeal of the platform.
