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Business intelligence (BI) consists of strategies, methodologies, and technologies used by enterprises for data analysis and management of business information. [1] Common functions of BI technologies include reporting, online analytical processing, analytics, dashboard development, data mining, process mining, complex event processing, business performance management, benchmarking, text ...
Commercial intelligence (CI) is the process of defining, gathering, analyzing, distributing accurate, and relevant intelligence regarding the products, customers, competitors, business environment, and the organization itself. [1] This methodical program affects the organization's tactics, decisions and operations. [2]
Strategic sourcing is the process of developing channels of supply at the lowest total cost, not just the lowest purchase price.It expands upon traditional organisational purchasing activities to embrace all activities within the procurement cycle, from specification to receipt, payment for goods and services [1] to sourcing production lines where the labor market would increase firms' ROI. [2]
Enterprise application suite is an alternate name for such systems. ERP II systems are typically used to enable collaborative initiatives such as supply chain management (SCM), customer relationship management (CRM) and business intelligence (BI) among business partner organizations through the use of various electronic business technologies.
Business analytics (BA) refers to the skills, technologies, and practices for iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods .
In marketing, a marketing plan is created to guide businesses on how to communicate the benefits of their products to the needs of potential customer. The situation analysis is the second step in the marketing plan and is a critical step in establishing a long term relationship with customers.
Business agility refers to rapid, continuous, and systematic evolutionary adaptation and entrepreneurial innovation directed at gaining and maintaining competitive advantage. [1] Business agility can be sustained by maintaining and adapting the goods and services offered to meet with customer demands, adjusting to the marketplace changes in a ...
Commerce is the organized system of activities, functions, procedures and institutions that directly or indirectly contribute to the smooth, unhindered large-scale distribution and transfer (exchange through buying and selling) of goods and services at the right time, place, quantity, quality and price through various channels among the original producers and the final consumers within local ...