Best Practices for using Embedded BI for Business
Embedded Business Intelligence (BI) isn’t simply a trendy buzz word for the tech savvy but is a way to enhance business operations through receiving factual insights from real-time reporting of transactional and operation data. There are many popular uses for BI and the following list highlights just a few:
1. Customer service and sales if perhaps the most popular current use for BI since it provides representatives with real-time data showing individualized information for each customer describing what the person is most likely to buy. The information provided is pulled from a customer profile, consisting of demographic identifiers, past purchases, and other relevant information, which is compared with the profiles for similar customers. Embedded BI helps companies identify trends without them necessarily even knowing why the trend exists.
2. Relying on lead manufacturing and just-in-time supply chains can substantially cut costs but also increases the risk of running out of inventory. Embedded BI can report instantly from any node creating greater supply-chain transparency and easier problem identification.
3. BI can be particularly helpful for large enterprises by giving them the ability to coordinate activities departmentally. This becomes apparent when decision makers have instant access to reports that show real-time status of any required information allowing for better decision making. Problems may even be predictable as current events can be compared to past patters and potential issues identified before they appear.
4. A growing sector for BI is HR. Within the context of human resources, BI can be compiled and interpreted from numerous applications leading to more effective resource management during time-critical situations. BI can also provide for rapid cross-departmental deployment since HR can see those on-site employees that have the qualifications suitable for specific tasks.