Market Segment Tag's Archives
It would not be entirely surprising if a large percentage of small to medium sized businesses were somewhat unable to articulate the concept of business intelligence and how it affects their firm. This does not mean necessarily mean incompetence or willful negligence. It might very well be that these businesses are in fact using business intelligence but have either not identified it or could have identified it under a different name.
The purpose of this article is to give a brief overview of the role that business intelligence can play in the effective administration of an entrepreneurial adventure. In the briefest manner possible, I will attempt to explore some of the broader themes that run through this concept.
Business Intelligence, business strategy, Costing, Functional Decisions, HR Management, Market Segment, Perspective, Strategic Planning, Structural Efficiencies
As the name suggests predictive, analysis involves the ability to make assumptions about future behavior and outcomes. Given the limits of human experience, good predictions have to come from good data. The requisite data is derived as a consequence of effective business intelligence. Therefore predictive analysis is a consequence of business intelligence. In this article I will attempt to describe the various elements that come into play when trying to make predictions.
The ability to make accurate and defendable predictions will depend also on the ability to use mathematical computations methods such as data mining in order to collate relevant transactional and situational information. This is collectively known as business intelligence. Without the essential elements of information gathering, information processing and finally transferring that information to the decision makes, predictive analysis will not be effective.
Accurate Decisions, analyzing data, Behavior Patterns, Business Intelligence, Market Segment, Predictive Analysis, Strategic Management
