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The Team at CallMiner
May 09, 2017
Business intelligence is an umbrella term that refers to the tools, processes, and infrastructure used by companies to identify, analyze, and access key business information. Companies today leverage business intelligence software to pinpoint and extract valuable insights from the large volumes of data they store.
In recent years, business intelligence space has shifted from an area owned primarily by IT to a core business function. In the past, complex reports and data analysis were key elements of any business intelligence initiative. Today however, there are a range of intuitive and accessible business intelligence solutions available which afford users – from all across the company – the opportunity to log in and access dashboards and analytics that turn raw data into real business insights.
Business intelligence software provides business leaders with the information they need to make more informed business decisions. Business intelligence is used as a foundation for strategic decision-making eliminating as much of the guesswork and gut-feeling from the decision-making process as possible. The data sources used to build business intelligence include customer relationship management (CRM) systems like Salesforce.com, supply chain information, sales performance dashboards, marketing analytics, contact center call data and metadata i.e. information describing data. Business intelligence applications help companies to bring all these disparate sources into a single unified view providing real time reporting, dashboards, and analysis.
Business intelligence provides the opportunity for company-wide growth by transforming data into valuable insights. Business intelligence tools and systems are used with both internal and external data sources to glean information like competitive intelligence and market trends as well as internal insights like common customer and industry pain points, key stakeholders, and commonalities in lost opportunities.
Business intelligence is used to drive decision-making from tactical everyday tasks all the way to key strategic business decision. The following are some examples of business intelligence.
As you weigh up the various business intelligence solutions, there are a number of best practices you should keep in mind.
CallMiner is the global leader in conversation analytics to drive business performance improvement. Powered by artificial intelligence and machine learning, CallMiner delivers the industry’s most comprehensive platform to analyze omnichannel customer interactions at scale, allowing organizations to interpret sentiment and identify patterns to reveal deep understanding from every conversation. By connecting the dots between insights and action, CallMiner enables companies to identify areas of opportunity to drive business improvement, growth and transformational change more effectively than ever before. CallMiner is trusted by the world’s leading organizations across retail, financial services, healthcare and insurance, travel and hospitality, and more.