The retail industry is today, one of the most vibrant industries pushing for innovation backed with considerable investment in e-commerce, mobile and supply chain technologies.
Importance of Business Intelligence to make well-informed business decisions
Every moment, we are creating new data in the business world and it can be easily predicted that this pace of creating data will increase at an exponential rate in the near future. With an enormous flow of data and several touch points, most businesses are creating millions of data every hour. There is no business that likes to run loose in terms of creating data. Even every organization tries to extract maximum output from its employees but the issue with this approach is that it will not sustain and disturbs the health of the organization, leading to disturbed work-life balance of employees. The major solution to overcome this business crisis is to implement intelligence to work. Business Intelligence combines functionalities and outputs of different BI tools, visualization techniques, and practices. These are used to gather, combine, measure, and analyze raw & unstructured inputs to process insightful, beneficial, and key business data.