Business Intelligence – Saving the Healthcare Sector
Introduction
For an enterprise, information is one of the most key resources. The importance of making decisions based on timely and accurate information can not be stressed enough. Business intelligence (BI), which refers to a broad category of expert information, knowledge, applications and technologies for gathering and analyzing data to help enterprises make better business decisions, has become imperative for businesses in order to have a comprehensive and in-depth knowledge of all of the factors affecting it and to make effective and good quality business decisions.
Advantage BI
A source of competitive advantage, BI enables enterprises become aware of crucial factors such as customers, competitors, business partners, economic environment and internal operations, and make well informed business decisions. Enterprises are able to analyze information gathered from indicators in the external environment and make accurate forecasts about future trends or economic conditions. BI helps improve the timeliness and quality of information, which helps enterprises quickly respond and adapt to the ever-changing environment. BI enhances the communication within as well as outside of the organization, and enables enterprises to respond quickly to changes in financial conditions, customer preferences, and supply chain operations, thereby improving the overall performance.
The application softwares pertaining to BI convert key enterprise data into valuable information that helps it make crucial and on-time decisions. These technologies gather, store, analyze, and provide access to the data, present this data in a simple, useful manner, and aid in Business performance management by making accurate, current, and relevant information available when needed.
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