Example of the Application of Business Intelligence in the Company

Business intelligence (BI) is a mechanism that can make it easier for businesses to gather data from various sources and transform raw information into meaningful forms. So, what are examples of implementing business intelligence in companies?

To find out, let’s read a review of the following examples of implementing business intelligence!

Example of the Application of Business Intelligence in the Company. The following are examples of the application of business intelligence to companies based on the type of industry.

Hospitality Industry

In its application, the hotel industry uses BI to carry out analysis related to average housing and room costs. This makes it easier for businesses to decide on the next strategy to increase revenue.

Besides that, BI is often used by the hotel industry to collect statistics to analyze market trends. The following are examples of the application of business intelligence in the hospitality industry:

1. Loews Hotels

Loews as an exclusive brand that operates 26 properties in North America. In this case, Loews Hotels applies BI as an effort to search for potential loyal customers and increase marketing.

By applying BI, Loews managed to achieve a 100% response rate and saw a 76% increase in the value awarded. In addition, Loews received various awards that show how well BI is implemented in Loews’ hospitality industry.

Retail Industry

The retail industry is one of the largest users of the BI program in the world, coupled with the emergence of the e-commerce industry and the increasing number of loyal consumers in the online retail industry.

The following are examples of the application of business intelligence in the retail industry:

1. Walmart

The major American supermarket, Walmart, uses BI to understand how online attitudes affect business online activities and in-store activities.

By analyzing replication, Walmart can understand the purchasing scheme of their loyal customers. For example, how many people saw glasses and how many glasses were sold in one day.

Not only that, Walmart uses BI technology to determine the busiest times of the day or month. So, they can do a thorough preparation to handle it.

2. Stitch Fix

Stitch Fix is a retail company operating in the fashion sector. This company has a unique business mode.

Where the company will send loyal customers a customized box of clothes based on the customer’s response to a short questionnaire about their style.

Companies must rely on professional stylists and strong algorithms to be able to connect loyal customers’ choices with individual styles based on their responses to the questionnaire.

To realize this, Stitch Fix employs a BI solution that allows business algorithms to adapt to loyal customer style choices over time.

3. Lotte.com

Online retail company from South Korea, Lotte.com, takes advantage of BI to increase company income efficiently.

In this case, Lotte uses BI to analyze customer experience and uses that information to understand customer behavior and apply targeted marketing and website change.

4. Kroger

The application of BI to Kroger retail companies, has the aim of finding the buying attitude of loyal consumers through the loyalty program that has been carried out. However, unlike most branch stores, Kroger doesn’t spend a lot on general marketing.

In this regard, Kroger has developed the most appropriate and highly successful e-mail program with BI. Where, branch stores can send special e-mails to loyal customers with an exchange rate of more than 70%.

Banking Industry

The banking industry uses BI to facilitate the process of producing analytical reports. BI in general is equipped with an analytical dashboard that displays the attitude of loyal consumers within a certain period of time. You can use this dashboard to monitor them in real time.

The following are examples of the application of business intelligence in banking companies:

1. American Express

American Kilat uses BI technology to develop new payment service products and market offerings to their loyal customers.

Amex’s trials in the Australian market have led to the recognition that 24% of all Australian users will close their accounts within 4 months.

Using that information, Amex can then take steps to protect their loyal customers.

2. LendingClub

Another example of applying business intelligence to a banking company is LendingClub. Where companies use BI to optimize their workflow processes for users, through a series of A/B testing.

With A/B testing, companies can make several small reconciliations to further comply with loyal customers’ options, and ultimately give their company a large increase in earnings.

Technology and Information Industry

As an industry that has a strong relationship with data and information, some information technology (IT) companies definitely need BI solutions to enhance their business.

The following are examples of the application of business intelligence to technology companies:

1. Google

Google not only uses data outlets to monitor loyal customers, but also leverages its capabilities in BI solutions to improve internal processes and increase procedural effectiveness.

In this case, Google has a special team “People Analytics”, which is dedicated to gathering employee opinions regarding common task questions.

For example, if there is an actual need for a manager or what actually needs to be the role of a manager, or what is the best manager character, and so on.

The suggestions are then used to improve corporate culture within the company and create more effective workflow processes and promote development within the company.

Transportation Company

The transportation industry has long needed deep technological solutions to their various problems. In this case, business intelligence is the right solution to solve the problem.

For example, what has existed in some of the examples of implementing business intelligence in the following transportation companies.

1. Tesla

Tesla is not only a company that manufactures cars, but has also built its reputation as a technology company that offers a unique driving experience for drivers.

Tesla’s electric car and all its components are connected to Tesla’s large base via the Internet of Things (IoT). This unique arrangement allows the company to roll out software enhancements to its car users free of charge.

However, it essentially helps companies to collect important business intelligence data about driver choices and how their car is driven.

2. Delta Airlines

Delta Airlines has put in place a robust baggage search mechanism that allows airlines to easily follow the luggage of multiple travelers.

This airline has an efficient program for travelers that allows them to easily locate their luggage.

Social Media Base

The social media base has now become a strong side in human life, and without limits. With billions of monthly active users, this base has become a data center for companies wishing to target their advertising via the internet.

However, the amount of data and active users makes it necessary for the social media base to make the best possible use of BI solutions. The following is an example of implementing business intelligence in a social media-based company:

1. Twitter

If you’re a Twitter user, you already know that the character boundaries set for Tweets have become a hot topic of conversation among users. This was followed by adding a Tweet character limit from 140 words to 280 words.

However, what users don’t know is that Twitter has actually run a test run using the BI program. Where, increasing the character limit only makes it easier and faster for users to express themselves without adjusting and increasing the number limit.

2. Facebook

Recently, Facebook has been charged with causing a reduction in the psychological health of its users. The reason for this is that the user differences between real life and other people’s online lives are carefully curated.

To combat this negative trend, Facebook is experimenting with BI, by making the number of likes an individual thing that can only be seen by the person who uploaded it.

3. TikTok

TikTok uses BI technology to get the most effective database data analytic power, thus making video searches almost obsolete for its users.

In this case, TikTok can show related videos to users, as soon as they open the “For You” tab. Over time, users can train the program’s algorithms to their liking by reacting to the videos they watch.