Dr. s. Praveen Kumar
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Business intelligence (BI) techniques can help identify weaknesses and opportunities in your operations. Aligning BI efforts with business strategy is essential to maximizing the benefits.
Executives think of business intelligence (BI) merely as a software solution that needs to be bought and installed, a reporting tool for serving up data on a convenient “dashboard.” In contrast, other executives have discovered that true business intelligence is the key to running a performance-oriented organization. They use their systems to home in on a selected group of key performance indicators, often custom-crafted, that help them define corporate strategy and drive profitability. They have found that the data they receive gives them the ability to make sense of markets; to identify strengths and weaknesses; to measure the progress of the company against its goals; and to employ the skills, processes, technologies, applications, and practices that support good decision making.
When deployed properly, business intelligence should help define strategy, drive profitability, and develop a performance-oriented culture throughout an organization.
Business intelligence helps extract crucial facts from a vast amount of unstructured data and transform them into actionable information that enables companies to make informed strategic decisions, improving operational efficiency and business productivity. Business intelligence can arm companies with rich data resources that can help them achieve their business goals and targets by guiding timely strategic decisions.