What is the role of business intelligence in strategic planning? 🔊
Business intelligence (BI) plays a crucial role in strategic planning by transforming raw data into actionable insights. BI tools analyze data trends and generate reports that help organizations understand market conditions, customer preferences, and operational efficiencies. With these insights, businesses can make informed decisions regarding product development, marketing strategies, and resource allocation. BI ultimately supports long-term strategic goals and enhances the overall competitiveness of an organization in the marketplace.
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