In your day-to-day role, you will already use a variety of software solutions from email platforms to property management systems and each of these will have their own reporting features and functionality.
Real estate has historically relied on outdated and disparate systems, using spreadsheets and CRM tools to house mountains of data. But these systems don't talk to each other. That's a huge problem causing landlords, brokers and asset managers to waste countless hours digging through multiple systems to answer even one simple question. It also makes it near impossible to see the big picture.
That’s where Business Intelligence (BI) tools come in—giving landlords and brokers access to a high-level view of their entire portfolio from a data and performance perspective.
At their core, BI tools analyze data and allow users to glean actionable insights. The industry already enjoys access to massive sources of data, on tenants, comparable sales, portfolio metrics and more. Having so many data sources is great, but when these systems don't sync up, they aren't nearly as powerful. BI aims to add one more step of automation in the process of analyzing and aggregating data, helping landlords reduce downtime, close deals faster and increase tenant retention.
Efficiency and scalable impact might not be the first things that come to mind when you think of government. A basic, and inherent connotation is to think of government as slow and bureaucratic. But that’s the old paradigm — the path without data.
The newest catalyst driving governments to a data-driven approach is the emergence of modern business intelligence (BI), a methodology that empowers everyone within an organization to access and analyze the data they need. This modern, self-service approach to analytics enables an easier and faster way for both employees and leaders to measure performance metrics across every program in the agency.
The retail industry is more dynamic today than it was ever before. Globalization increased buyer power, newer sales channels are all forcing retailers to use newer and innovative techniques to market their products better.
The amount of data processed by retailers is so large that it is very difficult to maintain and draw meaningful insights from them. BI software provides retailers with an architecture to maintain and analyze data across geographies and store formats. It helps you to reduce your operational costs and maximize the value of information.
Intensifying competition requires that firms invest their time, money and efforts into having a rich understanding of their network and customers. Moreover, infrastructure and business systems need to be made more dynamic in order to adapt to the evolving online and mobile environment.
In several telecom firms, huge amounts of data generated from millions of customers are dispersed across multiple data sources -with each business unit and product lines having their own set of data.
Business Intelligence systems help telecom firms to integrate data from multiple sources, refine data and provide an in-depth understanding of their network, customers, and operations. An integrated data warehouse, good analytic capabilities and better visualization of data can help telecom firms in:
Pharmaceutical companies are in absolute need to develop new drugs and to compete with the growing generic drug market. This has led to a sharp increase in R&D and marketing costs. Pharma companies are now increasingly partnering with each other and with biotech firms in order to face the demands of the industry. As a result, firms are getting access to a wealth of data regarding drugs, customers, and industry. For the firms to win in the long run, they need to make the best use of this data.
Nowhere is consolidated and easy-to-interpret data as important as it is in the healthcare industry. Here, Business Intelligence not only improves efficiency and productivity but also serves as a tool for improved diagnosis. In healthcare, allocation of resources is not just about profitability but also about saving lives.
The banking sector is characterized by multiple customer segments, vast product arrays, regulatory changes and increasing consolidation. The intensifying competition not just from other banks but also from online payment firms is putting pressure on banking firms to improve profitability and increase their revenue per customer.
Manufacturing firms are always on the lookout for new ways to streamline their operations so as to reduce costs and improve overall profitability. Enhanced transparency and collaboration with their partners in the value chain can help manufacturing firms deliver high-quality products at reduced costs.
High Tech companies operate in a very dynamic environment where innovation and speed-to-market are keys to success. Besides, there are always the risks of technology and product going obsolete, reducing margins and a complex and dynamic supply chain. BI tools can help High-tech firms improve their performance in certain key areas.