6 Real-Life Business Intelligence Examples To Learn From

In this fast-paced and competitive world of business, what do you think separates the winners from the losers? The answer is simple: data.

But where do you find it?

These days, everyone is talking about Business Intelligence. Have you ever heard about it? It may sound a bit nerdy, but it’s the secret weapon that successful businesses are using to get ahead of their rivals. If you’re not familiar with the concept and examples of Business Intelligence, you’re missing out on a major opportunity to transform your business.

Fortunately, we’re here to help you. In this article, we’ll be exploring everything you need to know about Business Intelligence. Plus, we’ve also outlined 6 real-life examples of business intelligence that will blow your mind. So, let’s not wait any longer – let’s jump right in!

What is Business Intelligence?

Before diving into the examples of business intelligence, we need to understand what business intelligence is. So, let’s start off with that!

Business Intelligence (BI) is the technology that helps businesses analyze and make sense of their data. It involves using different tools and techniques to turn raw data into useful information.

Let’s take an example.

Imagine that you have a lemonade business. You keep track of all the information about your business, such as the number of cups you sold each day, the most popular flavors, and how much money you make. However, despite having all this data, can you make sense of it ? Of course not. After all, the information consists of just numbers and raw data. They do not make sense on their own.

That’s where business intelligence comes in. It is like having a special tool that can take all those messy details and turn them into clear pictures and reports. By doing this, the data becomes easy for you to understand. It organizes and analyzes all the raw data to reveal patterns, trends, and insights.

Examples of Business Intelligence Tools

Business Intelligence uses many tools and technologies that can help businesses to make prompt decisions. These tools are very user friendly. You can easily access these tools to make smarter decisions for your businesses. Before diving into business intelligence examples, let’s look at some common BI tools:

• Data warehousing tools

These tools are like giant data storage units where companies keep all their important information from different sources. Some data warehousing tools include Amazon Redshift, Google Big Query, and Microsoft Azure SQL Data Warehouse.

• Reporting and query tools

These tools allow you to ask specific questions about the data stored in the warehouses and get answers in the form of reports or visualizations, like charts and graphs. Examples include SAP Crystal Reports, IBM Cognos Analytics, and so on.

• Online analytical processing (OLAP) tools

OLAP tool lets you slice and dice the data in different ways, so you can analyze it from different angles. Microsoft Analysis Services, Oracle OLAP, and Pentaho Mondrian are some of the OLAP tools that you can use.

• Data Mining tools

This is like being a data detective. Data mining tools IBM SPSS Modeler, Rapid Miner and so on helps you uncover hidden patterns and relationships in the data that might not be obvious at first glance.

• Dashboards and scorecards

These are visual displays that show you the most important information and performance measures for your business at a glance. These tools involve Klipfolio, Gecko board, and Domo.

• Data visualization tools

These tools take all that boring data and turn it into cool graphs, charts, and other visuals that make it easier to understand and spot trends. You can use tools like Tableau, Microsoft Power BI, and QlikView.

These are just some examples of Business Intelligence tools, but there are many more available. You can use any of the tools for your business as per your business need and your budget constraints.

Where do we use Business Intelligence?

Now that you know about BI, let’s also briefly discuss where it is used in business.

• Sales

Sales analysts and operation managers often use BI dashboards and Key Performance Indicator(KPI). They have to regularly deal with complex information about customers, their preferences, taste,s and whatnot. So in order to streamline their sales processes and get ahead of the curve, they use BI.

• Marketing

BI tools let marketers easily track and measure all their campaign results in one place. They show real-time data on how each marketing effort is performing. This helps to plan future campaigns based on what worked best.

• Finance

Businesses also use BI to get a clear picture of their financial performance. How are they using their money? Where should they invest to get optimal returns? They use BI tools to find answers to these questions. Then, they use this data to make smarter money decisions.

• Performance evaluation

Business intelligence plays a key role in performance evaluation across businesses. Through BI tools, the overall performance of the business like sales numbers, production output, inventory levels, customer satisfaction scores, and so on is analyzed and evaluated.

How does Business Intelligence work?

Business intelligence uses analytics to help businesses make smarter decisions which are as follows:

• Descriptive analytics:

This type of analytics focuses on describing what has happened in the past. Descriptive analytics answers questions like: What were our sales last month? How many customers visited our website yesterday? It’s all about summarizing historical data to give you a clear picture of what’s been going on in your business.

• Predictive analytics

Predictive analytics involves using historical data to make predictions about future outcomes. Instead of just telling you what happened, predictive analytics tries to forecast what might happen next. For example, it might predict how much revenue you’ll generate next quarter, or which products are likely to sell the most next year.

• Prescriptive analytics

This type of analytics goes beyond just predicting the future – it tells you what actions to take to achieve a desired outcome. Prescriptive analytics takes the insights from descriptive and predictive analytics and turns them into actionable recommendations. For instance, it might suggest adjusting your pricing strategy to maximize profits or recommend which marketing channels to invest in for the best return on investment.

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6 Real-Life Business Intelligence Examples

Lots of companies these days are using BI tools to make their businesses better. Everybody from your local coffee shop to giant airlines and banks are using it.

We have conducted research on some famous companies and how they have been using BI to grow their business. Through the research, we have prepared a list of 6 real-life examples of business intelligence in action for you. So, let’s dive right into it!

1. Alibaba

Alibaba is a massive online shopping company that is one of the best business intelligence examples.

Let me explain how.

One key way Alibaba uses BI is through personalized product recommendations. Whenever you visit Alibaba’s websites or apps, it analyzes data about your past purchases, browsing history, searches, and more. Using this data, Alibaba’s BI systems can figure out what types of products you might be interested in buying next.

Alibaba also employs BI for customer service through virtual assistants and chatbots. The chatbot utilizes BI to understand your query, analyze data about product details, orders, and policies, and provide a suitable resolution quickly.

Another major use of BI at Alibaba is supply chain and inventory management. Alibaba’s BI systems analyze huge amounts of data around product sales, regional demands, supplier stock levels, and logistics. Using this intelligence, Alibaba accurately forecasts how much inventory of each product needs to be stocked and distributed to which locations to meet customer demands optimally.

BI also helps Alibaba with pricing strategies. Their BI tools examine data on competitor prices, customer price sensitivity, market trends, and more to determine the most profitable pricing at any given time for maximum revenue.

Essentially, through advanced BI systems that can process massive datasets, Alibaba has become a part of leading business intelligence examples.

2. Netflix

Do you love watching your favorite series on Netflix every weekend? Because I sure do! But that is not why it is in this list of examples of business intelligence . Netflix has made it into this list because of its effective use of BI tools. let me tell you how.

Whenever you watch something on Netflix, it keeps track of what you watch, how long you watch for, what times of day you watch, and what ratings you give to the shows and movies.

Netflix uses BI tools to identify patterns in the data to figure out what kinds of shows and movies different groups of people seem to enjoy watching.

So when it’s time for Netflix to recommend a new show or movie for you to watch next, their BI system will take into account all the shows/movies you’ve watched before and suggest ones that line up with the patterns it discovered for people with similar viewing habits as you.

About 80% of what people watch on Netflix comes from those personalized BI suggestions! Isn’t that the coolest real-life examples of business intelligence?

So in a nutshell, Netflix uses BI to turn huge amounts of data from millions of subscribers into useful pattern insights. This allows it to really understand and accurately predict the entertainment you’ll want to watch next. That’s how it is in the list of business intelligence examples in real life.

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3. Coca-Cola

Coca-Cola is one of the biggest beverage companies in the world, with drinks sold in practically every country. To manage such a massive global operation, Coca-Cola relies heavily on business intelligence tools making it’s way in the best business intelligence examples.

One key way Coca-Cola uses BI is for marketing and advertising. The company collects huge amounts of data on things like:

• Where and when do people buy Coca-Cola products?
• What types of people (age, gender, etc.) prefer which drinks?
• How effective different advertising campaigns are?

Coca-Cola’s BI tools analyze all this data to identify important consumer patterns and trends.

BI is also very important for managing Coca-Cola’s manufacturing and distribution. Their BI systems look at sales data for all their products across the globe. This data helps them forecast and predict how much of each drink needs to be produced and distributed to different countries and cities to meet customer demand accurately.

The BI tools analyze things like seasonal patterns (more Coke sold in summer), economic conditions, competitor activity, and more to make sure Coca-Cola’s complex supply chain runs as efficiently as possible.

Another use of BI at Coca-Cola is for testing and developing new products.

Let’s say Coca-Cola wants to launch a new flavor. Before a full rollout, they can use BI to analyze social media reactions, survey data, and initial sales figures in test markets. This “market intelligence” guides them in fine-tuning or modifying the product for maximum success.

Also, Coca-Cola uses advanced BI systems to make sense of the enormous amounts of data they have on sales, consumer behavior, distribution, marketing, and more. So, isn’t it fair for us to consider it as one of the business intelligence examples?

4. Delta airlines

Delta is a major airline company that has invested a lot of money (over $100 million!) into business intelligence. It now can be said as the best business intelligence examples While many airlines use BI for things like pricing tickets or scheduling flights, Delta decided to focus their BI efforts on something really important but often overlooked – handling passengers’ luggage.

They used their BI systems to collect and analyze tons of data on how luggage gets handled – when it goes missing, what causes delays, which airports have the most issues, etc.

By studying all this baggage data, Delta’s BI tools were able to identify the root causes of why luggage sometimes gets mishandled or lost.

Once they uncovered these issues through BI data analysis, Delta could then make smart decisions to improve their baggage processes. Maybe they invested in new equipment, re-trained staff, or adjusted schedules – all aimed at ensuring your bag arrives safely with you.

Thanks to utilizing BI this way, Delta has now become one of the most reliable airlines when it comes to properly handling passenger luggage. No more lost or damaged suitcases as often! It has also become part of leading examples of business intelligence.

But Delta doesn’t just use BI for baggage. They also employ it to understand their customers’ travel habits and preferences. That’s how Delta has become one of the incredible examples of business intelligence companies.

5. Tesla

Tesla is not just a car company. It is also an innovative technology company that makes electric vehicles and amongst the examples of business intelligence that you must know. One of the really cool things about Tesla cars is that they are constantly connected to the internet and can send data back to Tesla’s corporate offices.

At Tesla’s offices, they analyze all the data streaming in from thousands of Tesla cars all around the world using BI tools. It’s like each car is providing Tesla with insider information and feedback.

One cool way Tesla uses this BI data is for doing preventive maintenance. Let’s say the BI systems notice that a bunch of cars are having issues with their brakes wearing down too quickly. Tesla can then identify which specific cars are affected and send notices to those owners to take their cars in for a free brake repair before it becomes a safety problem.

But probably the most important use of BI is for improving future Tesla models. By studying stats on how owners actually use features, battery life, acceleration and more, Tesla engineers get insanely detailed insights they can directly apply when designing brand new versions of Tesla cars.

It’s like Tesla is getting direct feedback on what works well and what needs improvement from every single Tesla out on the road. No other car company has access to that kind of real-world data! Tesla can be considered among the unique real life examples of business intelligence.

It’s a brilliant way for Tesla to use BI tools to maintain incredibly high levels of customer satisfaction. The cars themselves are helping Tesla innovate!

6. American Express

One of the unforgettable examples of business intelligence companies is American Express, or AMEX. It is a big deal in the finance world, with lots of people using their credit cards.

AMEX has a system where they collect data about purchases made by both businesses and people who use their credit cards. This helps them understand how businesses sell stuff and how people buy things. They use BI to keep an eye on all this activity and make sure there’s no funny business going on, like fraud.

Then, AMEX has these perks for their cardholders. They use BI to make these perks personalized for each cardholder. It’s like they know exactly what you like to buy and where you like to go, so they can offer you perks that feel really special and tailored just for you. They even suggest restaurants and activities based on what you like, all by keeping track of your spending habits.

Now, AMEX is also really good at using the internet to get new customers and save money. They don’t rely much on sending out lots of mail like some other companies do. Instead, they use online marketing to get new people interested in their credit cards.

They are using BI tools to make sure you’re happy with their service and keep coming back for more. They are just amongst the perfect examples of business intelligence in action.

Wrapping Up: Real-Life Examples of Business Intelligence

Business Intelligence(BI) is the cheat code for businesses to navigate the modern market-place. By analyzing data, BI helps companies make informed decisions, gain a competitive edge, and improve customer experiences. You must have learned that from the examples of business intelligence companies we have discussed today.

With BI, businesses can adapt and innovate as the market changes, and ultimately, grow sustainably in the digital age. The more companies use BI, the more they can unlock new opportunities and improve efficiency.

We have come to the end of this article on 6 real-life examples of business intelligence. We hope these examples made you understand how business intelligence actually works in real life. We would also like to invite you to keep pace with our website The Futuristic Minds. Here we unravel the puzzles of tech advancements, the intricacies of finance, and guide your career journey. Our aim is to help you take a step closer to a better future. Stay curious, stay informed.

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