Economic and business intelligence

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Economic and business intelligence

  1. 1. ECONOMIC AND BUSINESS INTELLIGENCE By P.Palani vel rajan II MBA NPRCET NATHAM
  2. 2. Introduction For companies maintaining direct contact with large numbers of customers that is effective way of integrating enterprise applications in real time. Companies have understood the importance of enforcing achievements of the goals defined by their business strategies through business intelligence concepts.
  3. 3. Business Intelligence Business Intelligence is basically about concepts and methods to improve business decision making by using fact-based support systems. Business Intelligence as a discipline is made up of several related activities, including data mining, analytical processing and business process improvement.
  4. 4. What is the (EBIS) and who is it for? The Economic and Business Intelligence Service (EBIS) is a subscription based service that provides regular up-to-date sub-national economic and business intelligence, briefings and insights in order to support the subregional economic development activity.
  5. 5. Better business performance • Business intelligence capabilities empower employees to: • Align day-to-day operations with overall company strategy and objectives • Access information relevant to specific user roles and responsibilities • Analyze data from documents and spreadsheets in an easy way
  6. 6. Reasons for business intelligence Business intelligence is to improve the timeliness and quality of information. Timely and good quality information is like having a crystal ball that can give an indication of what's the best course to take.
  7. 7. Business intelligence reveals: • The position of the firm as in comparison to its competitors • Changes in customer behavior and spending patterns • The capabilities of the firm • Market conditions, future trends, demographic and economic information • The social, regulatory, and political environment.
  8. 8. Benefits of BI • With BI superior tools, now employees can also easily convert their business knowledge via the analytical intelligence to solve many business issues • Analyze click-stream data to improve ecommerce strategies. • Quickly detect warranty-reported problems to minimize the impact of product design deficiencies. • Discover money-laundering criminal activities.
  9. 9. Business intelligence tools • AQL - Associative Query Logic • Customer Relationship Management (CRM) and Marketing • Data mining (DM), Data Farming, and Data warehouses • Document warehouses and Document Management • Executive Information Systems (EIS) • Finance and Budgeting • Human Resources • Knowledge Management • Management Information Systems (MIS)
  10. 10. Implementing a business intelligence • • • • Goal Alignment queries Baseline queries Cost and risk queries Metrics-related queries
  11. 11. Conclusion The company who can exploit its own data and information to gain insight and make smarter decisions will have a clear competitive advantage.
  12. 12. THANK YOU

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