Running an e-commerce business is more than just having a website and selling products online. To keep pace with the competitive landscape, it’s essential to track and analyze key performance metrics to make informed decisions and drive business growth.
Compared to traditional brick-and-mortar retail stores, digital retail or e-commerce apps and websites are at an advantage because of the vast amounts of data they produce and also work with. So, e-commerce companies have immense potential to quantify the effectiveness of their strategies for growth and customer acquisition by availing the benefits of reliable Business Intelligence (BI) tools.
In today’s expanding global marketplace, companies face constant pressure to maximize efficiency, reduce costs, and enhance customer satisfaction. One methodology that has proven effective in achieving these goals is lean manufacturing, which focuses on the elimination of non-value-added activities and the continuous improvement of processes.
The heightening investment in the retail industry has been increasing the size of the convenience stores market in recent years. Leading the growth spurt is the 7-Eleven chain of 70,000 convenience stores spread across 17 countries in the Asia Pacific and Atlantic markets. The convenience store giant has been leveraging data analytics through a variety of approaches that ensure steady growth and proper convenience for its customers.
Big data adoption is increasing rapidly across organizations of all sizes. However, the method and distinction between obtaining Business Intelligence (BI) and employing Data Analytics (DA) to make actual business decisions with an impact are getting lost in translation. While both terms are used interchangeably, BI and DA are essentially distinct in many ways.
Quintillion bytes of data get generated in a day, now imagine handling those data manually! Impossible right? It would require immoderate manpower with no surety of accuracy. As we all are aware of the fact that organizations these days run on data and thus it is a vital task to manage and organize it. The data is received from multiple sources and stored at a centralized repository for usage, such as a data warehouse.
Value-based care is the new normal in the healthcare industry.
Healthcare stakeholders- patients, providers, payers, and suppliers are realizing the benefits of value-based care, and adopting it has become their major goal.
An organization’s data is its most essential resource and its day-to-day operations produce data in abundance. But to derive actionable insights that help make data-driven decisions, it is important to remove inefficiencies in the way the data is consumed and visualized. Business Intelligence, or BI, is a group of services that empower businesses to leverage their data for driving enterprise excellence.