Panorama Business Intelligence

More banks and financial institutions plan to implement business intelligence solutions this year, according to a recent report from Bank Technology News.

In an effort to better utilize customer data, banks will adopt business intelligence platforms to enhance their customer relationship management systems, the report states. Banks will utilize BI solutions in areas ranging from marketing and cross selling to risk management and security, according to the report.
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Boosting the productivity of a company’s workforce by promoting collaborative technologies, including social business intelligence, will be key to fueling business growth during the coming years, according to chief information officers responding to a recent CIO magazine poll.

In determining CIO priorities for this year and those to follow, the survey revealed that collaboration is high on the list. In fact, 67 percent of respondents said improving employee productivity will be a top business accomplishment in 2011. One way to do so is through the use of social business intelligence, according to one executive’s comments.
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Companies in the retail sector are using business intelligence solutions to enhance their distribution strategies and boost sales, according to a recent Retail Solutions Online report.

Contributor Rosanne Saccone, the chief marketing officer of a business intelligence solutions vendor, identified several ways retailers are deploying BI. According to the report, retail companies are using analytics to study customer behavior, speed access to business information and empower customer-facing employees.
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