How Business Intelligence and Analytics Help You Gain Competitive Advantage — Bar Code India

How Business Intelligence and Analytics Help You Gain Competitive Advantage

According to McKinsey & Company, “By 2025, smart workflows and seamless interactions among humans and machines will likely be as standard as the corporate balance sheet, and most employees will use data to optimize nearly every aspect of their work.”

The rapid rise of Business intelligence and analytics (BI & A) has transformed reality as we knew it over a relatively short period.

What is BI &A?

BI focuses on past events and patterns, while analytics examines why they occurred and predicts future outcomes. Together, they collect and analyze data to drive insights and predictions.

Advanced technologies like AI and machine learning are used in quality BI & A solutions to compile and analyze complex supply chain data quickly. BI & A are essential for companies to increase productivity, cut costs, and boost revenue by making data-driven decisions, giving them a competitive edge in the business ecosystem. Read more….

Source Link:- https://barcodeindia.com/blog/how-business-intelligence-and-analytics-help-you-gain-competitive-advantage/