Friday, March 29, 2013

Business Intelligence Beneftis - Part 3 : Improving Customer Satisfaction

Last part was about how BI can help you increasing revenue. This 3rd part will explain about Improving Customer Satisfaction by applying BI technology. Please enjoy.

1. Give users the means to make better decisions

With access to information, users can make better decisions faster, without having to escalate standard problems up the management hierarchy. This guarantees pragmatic and effective solutions since the people directly involved in the operations make decisions. In addition, users have the increased satisfaction of controlling their own process.
Ingram Micro: This wholesale provider of high-tech goods to technology solutions providers is working to create a new BI extranet in order to deliver advanced information to the company's suppliers and business partners. Says Ingram Micro CIO Guy Abramo, "Today it's incumbent on us to provide our partners with sell-through information so they can see what happened once their PCs hit distribution. That's critical for them to do inventory planning and manufacturing planning-helping them to understand what products are selling to what segments of the marketplace."

2. Provide quick answers to user questions
One of the primary benefits of BI is that you can dramatically reduce the time it takes for internal and external users to get answers to their questions. With fewer delays and faster response time, users are empowered to act quickly, based on the information they receive.

Principal Financial Group (PFG): PFG's financial department has received substantial benefits from the products' real-time data extraction and analysis capabilities. The department can now rapidly review monthly and yearly revenue data, increasing the speed of decision-making and improving productivity and business performance.

3. Challenge assumptions with factual information

Almost all businesses rely on assumptions and rule of thumb. However, it is worthwhile to challenge these hunches through detailed analysis of operational data, because assumptions and rule of thumb are frequently incorrect.

British Airways: Peter Blundell, former knowledge strategy manager for British Airways, and various company executives had a suspicion that the carrier was suffering from a high degree of ticket fraud. To address this problem, Blundell and his team rolled out business intelligence. "Once we analysed the data, we found that this ticket fraud was not an issue at all. What we had supposed was fraud was in fact either data quality issues or process problems," says Blundell. "What it did was give us so many unexpected opportunities in terms of understanding our business." Blundell estimates that their BI deployment has resulted in around $100 million in cost savings and new revenues for the airline.

Thanks for reading. I hope you guys can understand these benefits and also implement BI technology in your own company to get a better business.

Source : it-performs

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