Business Intelligence Examples | 2023 Comprehensive Guide

Emily owns a bakery that’s famous for its cupcakes and doughnuts, and she’s happy with how her business flourishes within a short period. However, her products sell quickly, and she can’t adequately meet customer demand before long. After researching some business intelligence examples, she decides to invest in a business intelligence solution.

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How does business intelligence help? It lets her predict consumer demand accurately and optimize production to keep her customers happy and full of delicious pastries. Other business intelligence examples in this article show how a BI solution helps improve performance and boost productivity.

This Article Covers:

What Is Business Intelligence?

Business intelligence encompasses processes that ingest data and convert it into visuals, reports and dashboards to identify trends, patterns and points of interest. These insights help you gauge business performance and make data-driven decisions.

BI tools enable you to access different data types, including structured and unstructured, historical and current, in-house and third-party.

How Does It Work?

BI solutions rely on data warehouses for information. A data warehouse accumulates information from multiple sources to support analysis and reporting. BI software queries the warehouse to obtain, transform and visualize data to present the results in dashboards and reports.

Why Is It important?

Business intelligence helps you gain valuable insights from historical and current data to improve decisions, identify problems, spot market trends and explore new opportunities to boost revenue.

It can help answer important questions such as:

• Why are sales dropping in a particular region?
• What factors contribute to high profits in a specific year?
• Which employee is performing better in this quarter, and more.

BI helps your business become data-driven, boost performance and gain a competitive edge. It can also:

• Boost ROI by allocating optimal resources to meet objectives.
• Analyze customer needs and preferences to tailor products and services accordingly.
• Monitor business operations and make amendments based on insights.
• Improve supply chain management.
• Increase customer satisfaction.

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