What Is Business Intelligence?
Business Intelligence (BI) is the ability to transform data into information and information into knowledge, so as to optimize the business decision-making process. Thus, personalized analytics is going to be the most significant business intelligence trend that the industry will notice. A Datamart is a departmental database, especially in storing the data that is specific to the business area. The aim of this stage is to warn the users about various crucial events like poor performance by staff, takeovers, changing trends in market, sales fluctuations and much more.
The telecom companies can increase profitability by creating a predictive modeling for identifying potential churn candidates and non-revenue earning customers; and can increase revenue and profitability by targeted campaigning and promotional offers which will not only retain these customers but also convert the non-revenue earning customers to profitable revenue earning customers.
The major challenge in implementing a business analytics solution is obtaining a high quality data. A set of systems to delineate dynamic customer base, such as sales trends, niche value, customer churn, profitability segments. IT users also use it for supporting the individuals in the organization and provide reports to the outside customers.
SAS has packaged their business analytics knowledge in the form of models, processes, business logic, queries, reports and analytics. 3. Campaign Data Mart: This data is used for targeting specific customer segments for targeted campaign. Predictive modeling of churn analysis and management aims at generating scores depicting the probability of the customers to churn out in future.
Business intelligence acts as a strategic factor for a business to build competitive advantage, by providing privileged information to respond to business problems: entering new markets, product promotions or offers, eliminating islands of information, control finances, cost optimization, production planning, customer profiling analysis, profitability of a particular product.