Business Intelligence Application is also known as :
- OLAP Application
- Enterprise Performance Management applications
- Analytic applications
You may find also Bi Data Quality Application such as :
Some BI applications are common for all types of enterprise, others are specific to some industries.
You use them for/to :
- Forecasting and seasonal planning
- Financial consolidations and reporting
- Customer and product profitability analysis
- Price, volume, and mix analysis
- Executive information systems
- model complex scenarios,
- forecast business trends,
- perform “what-if” analyses.
Although OLAP applications are found in widely divergent functional areas, all require the following key features:
- Multidimensional views of data
- Calculation-intensive capabilities
- Time intelligence
Example of predictive analytics applications:
- customer segmentatiion,
- up-sell en cross-sell,
- campagne management,
- customer acquisition
- customer retention
Finance departments use OLAP for applications such as :
- activity-based costing (allocations),
- financial performance analysis,
- and financial modeling.
Sales departments use OLAP for :
- sales analysis and forecasting.
- Understand the health of the pipeline
- Improve Sales forecast accuracy
- Track the performance of the sales team
- Allocate resources based on customer value and needs
- Increase revenue through better lead tracking and management
Marketing departments use OLAP for :
- market research analysis,
- sales forecasting,
- promotions analysis,
- customer analysis,
- and market/customer segmentation.
You use the Marketing Intelligence to
- Identify high-potential customer segments that maximize the ROI
- Identify products most likely to appeal to different customer segments
- Identify up-sell opportunities
- Determine the effectiveness of marketing campaigns
- Understand which message, package and vehicle works best on each customer segment
- Measure the ROI of each campaign, track the gifts and program costs
Typical manufacturing OLAP applications include :
- production planning and defect analysis.
While one of the primary methods for doing this is to make it easier to use by non-technical employees, I believe another way is to provide concrete, readily comprehendible examples.
The TV coverage on election night demonstrated both.