What is Business Intelligence and Why is it Important for Retailers?
Business intelligence, also called BI, or analytics, is an umbrella term referring to the numerous tools in place for collecting, analyzing, and presenting business data. Numerous modes of technology, including applications, can be implemented in the capture of this valuable information. With accurate BI, retailers get to see the current state of business operations.
Business intelligence is important for retailers because it offers a new perspective on the big picture. For instance, BI can be used to prevent fraud and stop revenue loss early thanks to verifiable data trends. BI can also help teams make better decisions when it comes to retail purchases and allocations.…Continue reading