Tag Archives: Business Intelligence

  • Digital Strategies for Business

    10 trends that will dominate digital strategies of businesses

    Nowadays, almost everything around us is technology-based. From home appliances to office equipment, we are surrounded by items, which didn’t use to exist in the past. On top of that, all these things are fast changing. The typewriters you were amazed at recently can now only be seen in museums. Today, it’s all about keyboard and touch pad.

    Digital transformation has been so swift that you will never notice just about everything you do can now is done in just one touch. Sophistication is now the name of the game. Whatever is termed “Hi-Tech” will always be in business. This is why there is a growing trend for business in relation to digital-innovation.

    Hi-tech innovations have made businesses both producers and consumers. Businesses innovate something for businesses to use. Nonetheless, consumers will still remain the king. Consequently, digital marketers and entrepreneurs are forced to react to such changes.

    Today, we will go over the 10 trends that will dominate digital-strategies of business. Let’s get started!

    1. Intelligent Personal Assistant

    Personal assistant technology such as Amazon Echo, Alexa Voice System, Google Home, and Apple’s Siri has become popular and affordable. Expect to see new brands and new players in the market for this segment and making an impact for digital strategies in business.

    2. Chatbots

    The rise of chatbots has been very significant. Recently, Facebook, Twitter, and Google started their own experiment to enable chatbots in their messaging platforms. In business, this technology is a gem, and many companies recognize the importance of connecting with their customers through live chat support.

    However, employing a number of people to work for this alone may not be that efficient. Through chatbots, companies may get their people to focus on other work. Instead of employing real people to operate the platform, companies may use chatbots.

    3. Artificial Intelligence

    Artificial intelligence used to be just a concept in some old sci-fi films and today, it’s a reality. Google’s search engine is one good example. With the help of AI’s such as RankBrain and Knowledge Graph, your queries are answered the way it’s provided by human intelligence.

    4. The Internet of Things

    The internet of things or IoT is beginning to take shape today. The internet is no longer a place to connect to people; it can now also connect people to things and things to things. The most common example is augmented reality (AR) and virtual reality (VR).

    5. Mobile Devices

    The number of mobile device users is overtaking the number of desktop and laptop users. As a result, many companies are beginning to react to this trend. They start creating their own mobile-friendly sites and apps to keep up with such changes.

    6. Cloud-Services

    The rise of cloud-services has been phenomenal. A few years ago, Dropbox and Google Drive were the only popular means to store files in the cloud. Today, there are a lot of cloud-services that provide many features other than just storage. What used to work only in your local device can now work in the cloud.

    7. Social Media Branding

    Branding strategies have evolved from the mass media to social media. Before, it was what the content that could tell people and what a brand is. Today, it is the people that can create content to determine the branding.

    8. Productivity Apps

    Productivity apps have become widespread in the past few years. However, most platforms that have been developed are intended for office tasks, especially when it involves working with computers.

    On the other hand, there is a growing trend toward going beyond the confine of office work. We can now see productivity apps being synced into POS and other non-corporate services where Uber App is a great example.

    9. Business Analytics

    Business analytics is becoming more dependent on software technology. Data is no longer generated manually. With the help of other related platforms such as customer service management (CRM), it is now easier to gather and distribute accurate data in real time.

    10. Ecommerce

    Ecommerce sites have proven itself to be resilient and viable. Amidst changes in the internet landscape, online shops continue to flourish and even dominate the internet economy.

    Conclusion

    Technology will continue to evolve, but nobody knows up to what level it will reach. The only thing we know is that technology will always give us surprises. The above innovations and trends will determine the direction of the market. This will further accelerate the race to produce the most sophisticated technology in the immediate future.

  • How Business Intelligence Tools Can Help Retail Sector

    Business Intelligence is the process of gathering all relevant data for busotsiness purposes. Many analytics believe that there is abundant data, both internal and external. The challenge lies in collating all this and working with it. This has found application in various fields and has been particularly helpful in the retail sector.

     There are many benefits attached to business intelligence tools. Some of these are:

     1. Optimise store operations: Business intelligence Tools can be used to streamline and bring innovation to all store operations. Better feedback and analysis can help in the optimum display of products and store layout. It also helps managers to take informed decisions on inventory, pricing and staffing. In effect it means decisions taken in real time and less wastage.

     2. Improve financial performance: Comprehensive information gathered through business intelligence tools is used to improve the overall financial performance of the retail operation. Effective inventory control by eliminating stock outs or overstocks is one of the examples used to improve financial performance. Similarly, pricing and costing can be better controlled to improve the overall financial performance.

     3. Increase supply chain effectiveness: The main elements of supply chain are transportation and vendors –– both of which can be effectively managed through business intelligence tools. Today you need real time information on what is happening in your supply chain as well as vendor performance. This can help you to streamline operations, keep a better track of unnecessary delays and drive better negotiations. It can help in improving supply chain performance as well as establishing better inventory control.

     4. Risk management: Business intelligence tools are used to keep track of various operations –– from employee performance to vendor chain. This can be used to supervise performance and undertake periodic analysis. With real time tracking, managers can also identify weak spots quickly and move fast to plug them. Possible fraud channels are more easily spotted with constant supervision.

     5. Customer analytics: The customer is the most important part of any retail store and business intelligence tools are the most effective means of gathering data on customers. Track effective sale campaigns, customer friendly tech interactions and overall customer satisfaction.

  • Mobile Business Intelligence: Powering Up Enterprise Analytic.

     

    Business Intelligence has been an important part for a good ROI in any business. Enterprises has no other way but to invest a good amount in knowing the prospect of their business itself. A reason for this is the increasing critical scenario of the market with competitive products and complicated customers. This arise the need of a more practical and efficient business analytic system. Software and other business intelligence applications such as SharePoint has made this process much advanced and dynamic than before. Most recently, bringing BI to Mobile Platform has rendered great efficiency to this process.

    mobile business analytic

    The Mobile Platform BI, was not an exact strategy. It was rather due to the BYOD trend that boosted the use of Mobile Devices such as I Pads for business operations. However, integrating BI into this platform is not a coincidence, since, it was an evident fallout.

    Mobile applicability of BI has made greater accessibility to data and information. Using analytic tools in devices such as I Pads and Smart Phones makes market information more handy. This enables the sales force to access data more frequently and timely.

    This new platform eases the need of maintenance of large hardware and applications. Such necessities often become a risk itself as they require extra attention, time and resources. Bringing BI to the mobile platform abates such scenario. It has made the system easy and user friendly adding more functionality and mobility.

    mobile business intelligence

    Mobile devices are though to have security vulnerabilities. However, with right steps taken such threat may be abandoned. Virtual Private Network(VPN) could be deployed in each device that can be accessed only through proper authorization. Software application could be installed in the devices that can erase and destroy any data if reported a device is reported lost or damaged.

    Most of the important BI applications works efficiently in Mobile Devices. Powerful application frameworks such as SharePoint are developed to be compatible with these devices. Data Mapping is convenient and easy in mobile devices. Any application that may not run properly in these devices could be used with pluggins and customized set up.

    Conclusively, using Mobile devices for Business Intelligence is expected to bring more ROI. This reduces the cost of hardware maintenance and infrastructure investment. This makes the process more agile and effective.