{"id":4439,"date":"2023-09-30T18:41:19","date_gmt":"2023-09-30T16:41:19","guid":{"rendered":"https:\/\/ignasisayol.com\/?p=4439"},"modified":"2023-10-02T17:17:43","modified_gmt":"2023-10-02T15:17:43","slug":"business-intelligence-making-smart-business-decisions","status":"publish","type":"post","link":"https:\/\/ignasisayol.com\/en\/business-intelligence-making-smart-business-decisions\/","title":{"rendered":"Business Intelligence: making Smart Business Decisions."},"content":{"rendered":"

In the current business world, where information is power, Business Intelligence (BI) has become a fundamental pillar for achieving success.<\/p>\n

\"Business<\/p>\n

What do we mean when we talk about Business Intelligence? In simple terms, we refer to the use of data to make more informed and strategic decisions. BI combines technologies such as data mining, data analysis, visualization, and other tools that allow transforming large volumes of unprocessed (raw) data into useful knowledge for decision-making.<\/p>\n

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Business Intelligence focuses on Data-Driven Decisions<\/strong><\/h2>\n

The concept of “Data-Driven Decision Making” is essential for understanding the value of intelligence in the business context.<\/p>\n

Because, as we have previously mentioned on the blog, data is the treasure of companies<\/u>. It’s not just about collecting them but using them strategically to make more accurate decisions. The digital age has enabled companies to have access to an overwhelming amount of data. However, the key is knowing what to do with them.<\/p>\n

https:\/\/ignasisayol.com\/en\/data-science-the-companies-treasure-for-adding-value\/<\/a><\/p>\n

Business Intelligence in Logistics: examples and applications<\/strong><\/h2>\n

Imagine a distribution centre that receives products from various parts of the world. BI can help determine which products move faster, at what time of the year, and by what means. This allows the company to prepare the necessary inventory, choose the most efficient suppliers, and plan the most effective distribution routes. This is just one example of how Business Intelligence is now a fundamental piece in the management of current supply chains.<\/p>\n

Let’s look at some key applications of Business Intelligence:<\/p>\n

-Real-Time Tracking and Analysis<\/h3>\n

Before BI tools, tracking packages or shipments in real-time was a complicated process.\u00a0 Nowadays, BI solutions allow companies to track each item in real-time, providing minute-to-minute updates that can be vital for making logistical decisions.<\/p>\n