Using business intelligence software to learn about an industry or customer base is a natural part of enterprise operations today. Intuition, once the main guide for decision-making, has been revealed as a weak and antiquated methodology in the face of evidence-based performance. It has reached the point that just about any industry one can think of has developed its own strong, realistic and unique business intelligence use cases. Everything from high-speed customer demographic analysis to high-level surveys of months' worth of competitive sales data can be accomplished through friendly and powerful interfaces, meaning there is now a very real chance that organizations not making these calculations will be left behind by their industries.
Large organizations simplify
Retail organizations have realized what they could be accomplishing with BI solutions. According to Nation's Restaurant News contributor Paul Molinari, it's time for eateries to do the same. This is a sector that is directly predicated on the whims of the consumer base. Understanding the forces underpinning diners' wishes and preferences could transform the way major brands and individual restaurants operate. Molinari explained that with advanced BI, it's possible to look at multiple factors in the same chart and determine the patterns that link trends in sales with talent management changes and so on.
Molinari also took pains to explain the differences between today's BI and the types of informational reports delivered in the past. The latter required many individuals working together and may have occasionally put out findings that did not relate to the situation at hand. Each of those botched reports was a major blow to the company in question, as the amount of time and resources dedicated to the research and reporting was considerable. Now, staff members once given those roles can be reassigned and the insights they mined will still be delivered – on a greatly increased schedule, no less.
Becoming a leader
Wading into the BI field requires a sense of purpose and a use case, but that shouldn't be a discouraging factor. After all, these can be quickly summoned at just about any major company. Next, users need software that suits the tastes and needs of a competitive, contemporary business. This is where products such as Necto 14 come in, delivering the types of reports users actually value in formats that make sense to them. Blending internal and external content into formidable assessments of current trends, this suite is a potential answer to BI needs. No matter the industry, analytics can help.