Business Intelligence - What can it do for me?

By Andy

What is Business Intelligence?

Business intelligence (BI) is a variety of software applications used to analyze an organization's raw data. BI can include data mining, online analytical processing, and business reporting. Most businesses use BI software to help keep track of information and rely on the software to operate effectively. Companies can use the information from business intelligence software to determine what items within the business need to be changed because they're not attracting enough bidders. The Business Intelligence system could help the managerment team modify their individual and team work practices, which leads to improved performance across the board.

The Auction House introduced a new auction format a few months ago. The company wanted to try and change the offerings to help attract new customers. They want to determine which sorts of auctions are working and which types of auctions aren't so successful. The company has business intelligence software that allows them to determine which of the new items had the most success. After looking at the data, The Auction House realized its online only auctions were not a great success. They can now focus on the products that have brought them business, and update the online only format that has not been financially successful. How could business intelligence help them make this conclusion?

I've used the following BI packages to a greater or lesser extent Phocas, Power Bi and Qlik Sense. They all appear to offer similar functionality with relatively minor differences to how they obtain the data from the database and how they present the data to the user. From what I've seen they all try to get you buy more licenses to fully view the results and try and make sharing the data with people who don't have licenses less than ideal.

Breaking down your data into bite-sized easily digestable chunks
Where should I sell my Mercedes?

What colour Audi A4 should I buy for the best resale value at auction?
Where in the country are buyers located?
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