Operational business intelligence (OBI) consists of a process where business intelligence consultants like Ikigai labs use different technological techniques to monitor business data in real time. This monitoring and assessments help them pick out opportunities. This process focuses on data collection, analysis, warehousing, and visualization to get new information rather than existing data.
OBI is a very effective approach to providing both small and large businesses with regular valuable insights for immediate action in a dynamic, evolving market. It also helps keep track of business KPIs.
Uses of Operational Business Intelligence
OBI, otherwise known as operational intelligence, can be used in many industries for different benefits. Here are a few corporate and industrial functions that can benefit from OBI software implemented by Ikigai Labs.
1. Human Resource: HR managers can use operational business intelligence to scrutinize and appraise staff according to their performance. It can also be used to optimize the amount of work they have to do in a certain period and keep track of the company’s recruitment metrics and conversion rate.
2. Logistics: With Ikigai Labs OBI, you can have a seamless analysis of your supply chain and monitor your inventory levels, delivery timelines, expiration dates, and stock-taking at the set times.
3. Finance: Financial organizations need timely insights, especially regarding the stock market and currency exchange. With OBI software, you’re sure to get timely prompts and alerts on what is happening in the money market to make wise decisions.
4. Retail: Thanks to Ikigai Labs’ operational intelligence, retailers and traders can track different product sales and expiration dates. Additionally, business owners can quickly tell what products are in demand as well as allocate their staff to various functions in the retail chain.
5. IT: Information technology is a critical industry that needs apt technology, infrastructure, and network to keep everything running in order. OBI can help IT companies oversee corporate infrastructure and networks and promptly respond to common malfunctions or severe problems like cyberattacks.
6. Sales and Marketing: When performing a sales and marketing strategy, you need to constantly measure the analytics to see the performance and tell what is working and what’s not. With OBI, you can analyze different campaigns in a few simple steps and adjust accordingly.
Operational business intelligence has two main advantages that can be tapped into. Remember, there are other numerous benefits that your business could benefit from implementing this process. The core benefits are;
1. Data Democratization
OBI makes a business’s critical data available and accessible to different people and disciplines in various fields. They can also easily interpret it based on the visual charts, reports, and dashboards used in the process.
2. Effective Decision-making
As mentioned, Ikigai Labs OBI ensures seamless real-time monitoring of different data sources and their analysis, which helps you make immediate recommendations and insights. That way, you can always make quick decisions that will benefit the company according to the current market conditions.
Operational business intelligence offers a great approach to data collection, analysis, and management to help you keep up with your business needs and market trends. You will be able to utilize precious opportunities for your company’s growth.