Leveraging Business Intelligence for Cost Optimization
Business intelligence (BI) refers to the tools, technologies and processes that enable organizations to gather, analyze and interpret vast amounts of data to make informed decisions. For new-age businesses, the application of data analytics and BI has proven to be a valuable edge across both strategic and operational management domains. However, one particular area where its benefits shine the brightest is cost optimization. This is due to the direct impact on the organization’s bottom line, making it an ideal candidate for showcasing a swift return on investment (ROI) for BI implementations.