Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Operations Reporting and other Business Intelligence topics.
Business intelligence reporting and analysis techniques are helpful in achieving performance management success across many functional business areas. Predictive analytics are frequently the BI tool most suited for this purpose. Insurance and reinsurance operations are obvious users of these techniques and, originally, probably invented them. But what other areas of business operations could employ such analytics? Consider the following:
· Financial Services – Credit worthiness and debt load as a tool as a tool in credit card pre-approval campaigns.
· Pharmaceutical/Biomedical – Outcome of clinical trial projects and potential downsides to regulatory approval.
· Retail Sales – Reduction or alteration of a trusted customer base as the result of introduction of controversial or divergent product offerings.