Markets
Leveraging BI to elevate financial performance
Cheah Chor Sooi | 06 Oct 2017 00:30
Listed companies which leverage cognitive computing and data analytics tend to be ahead of the curve, says Lee
Often perceived as a hype, business intelligence (BI) has often been overlooked as a platform to get value-targeting right in the effort to monetise product or service offerings.

If applied correctly, BI is able to spur the financial performance of listed companies. This is through the identification of high-value data sources such as the customers’ transactional and behavioural information; prospect data from unstructured browse and click streams (digital footprint); financial data; data and indicators of asset health as well as suppliers and vendor data, among others.

This would pave way for industry-specific solutions in the form of predictive asset management in the energy and utilities industry or intelligent underwriting for the insurance industry.
 
“A functional solution could be customer monetisation for consumer goods or services industry, dynamic pricing, category management, or digital cost take-out in the finance or supply chain,” Accenture Strategy’s managing director Coreen M Bathman tells FocusM. “Other interesting applications of BI include video analytics for product placement or security alerts.”