What types of businesses use BI?

Business Intelligence (BI) has been around for a long time. It’s the practice of taking an organizations data and putting it in a format that produces some level of intelligence that can be used to help the business make decisions.

I find that most people want to be more data-driven but just might not know how. It’s pretty widely accepted that BI can be applied in most any business, but who invests in this type of system and why?

According to McKinsey research Data-driven organizations are 23 times more likely to acquire customers, six times as likely to retain customers, and 19 times as likely to be profitable as a result.

That’s a pretty straight forward answer to who invests and why. Company’s that want to have an edge on their competitors.

Are you using data to make decisions? Do you have access to a BI tool to help you make decisions?

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