Business intelligence (BI) can add value to almost any business process, creating a comprehensive view and empowering teams to analyze their own data to find efficiencies and make better day-to-day decisions. Digital transformation is now seen as a key strategic initiative and business intelligence tools have evolved to help companies make the most of their data investments. Here are the top 10 real-world applications of business intelligence.
For meal kit company HelloFresh, a centralized business intelligence solution saved the marketing analytics team 10-20 working hours per day by automating reporting processes. It also empowered the larger marketing team to craft regional, individualized digital marketing campaigns. Based on aggregate analyses of customer behavior, HelloFresh created three buyer personas to guide their efforts. Being able to see and track real-time data means the team can react to customer behaviors and optimize marketing campaigns. As a result, they saw increased conversion rates and improved customer retention.
Outdoor retail co-op REI uses a business intelligence platform to analyze their co-op membership. Co-op members contribute to REI's account for more than 90 percent of purchases with the retailer, so it is critical to track metrics like acquisition, retention, and reactivation. All of this information equates to over 90 terabytes of data. The ability to parse all of this data means that operations teams can determine whether to invest more in brick-and-mortar retail or digital experiences for their members. This leads to greater customer satisfaction and positive associations with the brand.
Coca-Cola's business intelligence team handles reporting for all sales and delivery operations at the company. With their BI platform, the team automated manual reporting processes, saving over 260 hours a year which is more than six 40-hour workweeks. Report automation and other enterprise system integrations put customer relationship management (CRM) data back into the hands of sales teams in the field through mobile dashboards that provide timely, actionable information and a distinct competitive advantage. A self-service BI implementation fosters more effective collaborations between IT and business users that maximize the expertise of participants.
Chipotle Mexican Grill is an American restaurant chain with more than 2,400 locations worldwide. Chipotle retired its traditional BI solution for a modern, self-service BI platform. This allowed them to create a centralized view of operations so they can track restaurant operational effectiveness at a national scale. Now that staff has more access to data, the speed of report delivery for strategic projects has tripled from quarterly to monthly and saved thousands of hours.
Des Moines Public Schools (DMPS) used advanced analytics to improve dropout intervention rates to better understand the impact of various teaching methods on individual student outcomes. The DMPS Research and Data Management team used a multiple linear regression model and nicknamed the dropout coefficient to weigh student indicators to predict which students might be at risk of dropping out of school. They used a business intelligence platform to leverage the model. Data visualization made it easy for staff to identify individual, at-risk students and get those students the attention they need.
Koodos is a new startup from Harvard Business School's Rock Center for Entrepreneurship that builds content curation technology for Gen Z based on user-generated data. Koodos' business model is dependent on understanding relationships between different sets of data. Their first experiment matched emojis with music like if you texted an emoji to 566-367, you got a song recommendation from another person. With a business intelligence tool, Koodos is able to unify their data to gain an understanding of how their experiments are performing and then use those insights to build a better product.
New York Shipping Exchange (NYSHEX) is a shipping-technology company working to improve the process of shipping overseas. NYSHEX decided to give the entire company access to the data using their business intelligence tool, Chartio. This has been possible not only because all that data is centralized into one system, but also because it's easy for someone with no coding knowledge to dive deep into analysis.
CareLinx is a nationwide, in-home care network connecting families to over 300,000 in-home caregivers. CareLinx already used a business intelligence tool for non-PHI data, so their engineering and product teams already realized the benefits of good BI. Once Chartio became HIPAA-compliant, a whole new world of opportunities opened up for them.
Bugcrowd is a cybersecurity platform that connects its customers to security researchers to identify vulnerabilities in products and applications. Their requirements were strict: airtight security and the ability to handle many data sources and it had to be easy to use. With their concrete and attainable business intelligence goal, Bugcrowd was able to solve their problems.
DataRobot is an enterprise-level artificial intelligence platform that invented the automated machine-learning category. DataRobot made the choice to onboard new employees with a seat on their Business intelligence tool. Their goal was to give every team the power to understand and act on data without the need to go through the engineering or analytics team. By incorporating their BI tool into the onboarding process, DataRobot cemented a culture of data democratization, where every employee had the power to analyze and act on data.
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