In the past, the expense of collecting, storing, and analyzing data meant business intelligence (BI) was available only to large corporations. But technology has changed and increased, namely through widespread internet access and usage. It's therefore become quite affordable to collect and store big data that's useful to business decisions. The problem, until recently, has been handling the analysis of said data. Now, a variety of tools are available to assist even the smallest of … [Read more...]
How Retail Businesses Use Business Intelligence to Maximize Profitability
Classic retail business design involves choosing a product, determining the proper price through supply and demand analyses, and setting up a distribution channel. One of the earliest examples of a famous retail operation is the Sears, Roebuck, and Company. They are famous for their longevity, as well as their famous catalog, which has been published for over 100 years. Interestingly, modern marketers are stupefied when they realize that Sears delivered their voluminous catalogs free of … [Read more...]
