Example of Enterprises Using BI Capabilities to Grow
The leading social media company is using BI along with Artificial Intelligence (AI) to counter potentially dangerous and inappropriate content on the platform. The algorithms together have proved to identify 95% terrorism-related accounts.
The technology is also used by them for fine-tuning the overall user experience of the application. The business intelligence tools see the live feeds and categorize them on the basis of their subject matter. They also use this data for bettering their search capabilities and identifying the videos/content the users will be interested in.
Uber
The company makes use of business intelligence to identify the different vital aspects of the business. An example of which can be seen in surge pricing. The BI-led algorithms track the traffic conditions, time of journey, availability of the driver, and customer demand – all in real-time. This feature of dynamic pricing is also used by hotels and airlines to adjust the price on the basis of the customers’ needs.
Walmart
Major retail brands such as Walmart make use of business intelligence solutions to understand the impact of online behavior on in-store and online activity. Through the analysis of simulations, Walmart is able to understand customers’ purchase patterns, for example, how many people searched for a piece of furniture and then bought it from the Walmart app/website on the same day. This way, they are able to pinpoint the busy days and the exit points in their users journey.
Starbucks
Through a mix of its mobile app and the famous loyalty card program, Starbucks gets purchase data of millions of customers around the world. Using that information and the BI tools, the company then predicts purchase trends and sends personalized offers of what a customer would prefer through email or application.
This system helps in drawing the existing customers in the stores more frequently, thus leading to high sales volumes.
Lowe’s
The home improvement company makes use of business intelligence for merging what customers tell them with the actual online and in-store behavior. They use the data for discovering insights that lead to staffing and product assortments in stores. The technology helps with driving sales and also with serving the customer. For example, Lowe’s uses predictive analytics for loading the trucks specific to the different zip codes, this way the right store gets the correct type and amount of the product.
Netflix
The 209.18 million active users of Netflix give the brand a huge BI benefit. The company uses the technology in several ways:
- formulation and validation of the programming ideas on the basis of previously seen programs.
- increase the in-app time. The recommendation system that the Netflix app is built on drives more than 80% of the streamed content.
Coca-Cola
With over 35 million Twitter followers and 105 million Facebook fans, Coca-Cola uses BI to benefit from the social media data. Using AI-driven image-identification technology, the brand notices when the photos of its drinks are posted online.
This information when merged with BI gives the brand insights into who is drinking Coca-Cola and in what context they are mentioning the brand. This information helps the brand hit their user base through targeted advertising, which results in a lot more clicks than a generic advertisement.
Delta Airlines
Delta Airlines has created a memorable “Delta Experience” feature by merging BI and big data to support customer service. The flight attendants get the BI tools to recognize and thank valued travelers.
The positive customer experiences blended with well-thought programs help position the airline as a market leader in the business travel sector.
American Express
Business intelligence is crucial for the finance domain. American Express has been using the BI technology to build new payment-based services and products to its customers. The company, through BI capabilities, found that 24% of the Australian users were closing their accounts in under 4 months. To solve the issue, the bank took steps to retain customers. The technology also helps them detect fraud and protect the customers whose card data might have been compromised.
These are just a few examples of the adoption of BI capabilities in the business world. The one takeaway that you can take from here is what is business intelligence technology and its use cases across a range of different industries.
For most businesses, sales and marketing are often a guessing game.
Data Analytics services are helping businesses in this very aspect to make an educated and intelligent decision rather than a conjecture.
These data inputs can be easily visualized using tools like Tableau Business Intelligence software.
That, in turn, will help you develop effective marketing campaigns and boost customer engagement, thereby increasing your sales, revenue and ROI.
Also, the demand for a particular product can be predicted, which can be used for optimized inventory management and deciding competitive but profitable pricing of the product.
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