Potentially, all kinds of organizations - both for profit and non-profit can benefit from BI systems.
Let‘s take a look at three examples of how BI is used.
Restaurant chains such as Hardee‘s, Wendy‘s, R uby Tuesday and T.G .I. Friday‘s are heavy users of BI software.
They use BI to make strategic decisions, such as what new products to add to their menus, which dishes to remove and which under performing stores to close.
They also use BI for tactical matters such as renegotiating contracts with food suppliers and identifying opportunities to improve inefficient processes. Because restaurant chains are so operations-driven, and because BI is so central to helping them run their businesses, they are among the elite group of companies a cross all industries that a re getting real value from these systems.
One crucial component of BI – business analytics – is quietly essential to the success of companies in a wide range of industries, and more famously essential to the success of professional sports teams such as the Boston RedSox, Oakland A‘s and New England Patriots.
With an analytical approach, the Patriots managed tow in the Super Bowl three times in four years. The team uses data and analytical models extensively, both on and off the field.
In-depth analytics help the team select players and stay below the NFL salary cap. Patriots coaches and players are renowned for their extensive study of game film and statistics, and Coach Bill Belichick reads articles b y academic economists on statistical probabilities of foot ball outcomes. Off the field, the team uses detailed analytics to assess and improve the —total fan experience.“ At every home game, for example, 20 to 25 people have specific assignments to make quantitative measurements of the stadium food, parking, personnel, bath room cleanliness and other factors.
In retail, Wal-Mart uses vast amounts of data and category analysis to dominate the industry. Harrah‘s h as changed the basis of competition in gaming from building mega casinos to analytics around customer loyalty and service. Amazon and Yahoo aren‘t just e-commerce sites; they are extremely analytical and follow a —test and learn“ approach to business changes. Capital One runs more than 30,000 experiments a year to identify desirable customers and price credit card offers.
Let‘s take a look at three examples of how BI is used.
Restaurant chains such as Hardee‘s, Wendy‘s, R uby Tuesday and T.G .I. Friday‘s are heavy users of BI software.
They use BI to make strategic decisions, such as what new products to add to their menus, which dishes to remove and which under performing stores to close.
They also use BI for tactical matters such as renegotiating contracts with food suppliers and identifying opportunities to improve inefficient processes. Because restaurant chains are so operations-driven, and because BI is so central to helping them run their businesses, they are among the elite group of companies a cross all industries that a re getting real value from these systems.
One crucial component of BI – business analytics – is quietly essential to the success of companies in a wide range of industries, and more famously essential to the success of professional sports teams such as the Boston RedSox, Oakland A‘s and New England Patriots.
With an analytical approach, the Patriots managed tow in the Super Bowl three times in four years. The team uses data and analytical models extensively, both on and off the field.
In-depth analytics help the team select players and stay below the NFL salary cap. Patriots coaches and players are renowned for their extensive study of game film and statistics, and Coach Bill Belichick reads articles b y academic economists on statistical probabilities of foot ball outcomes. Off the field, the team uses detailed analytics to assess and improve the —total fan experience.“ At every home game, for example, 20 to 25 people have specific assignments to make quantitative measurements of the stadium food, parking, personnel, bath room cleanliness and other factors.
In retail, Wal-Mart uses vast amounts of data and category analysis to dominate the industry. Harrah‘s h as changed the basis of competition in gaming from building mega casinos to analytics around customer loyalty and service. Amazon and Yahoo aren‘t just e-commerce sites; they are extremely analytical and follow a —test and learn“ approach to business changes. Capital One runs more than 30,000 experiments a year to identify desirable customers and price credit card offers.
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