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Business intelligence is helping the food industry to identify and develop sustainable methods through eco-friendly technologies. Food companies are leveraging BI-powered data collection tools to meet environmentally sustainable demands.
FREMONT, CA: Business intelligence (BI) emerged in the 1990s, and since then, it has evolved from a technical and IT-centric process to a more inclusive and IT-enabled process. Business Intelligence is no longer just a jargon used in technology companies. It has become a part of various other industries looking to gain a competitive advantage in their respective marketplaces.
Let us look at the industries that are benefiting from BI:
Food retail or processing industries are putting environmental sustainability as their topmost priority, which includes the large-scale use of safer and healthier ingredients, environment-friendly food packaging, and eco-friendly distribution mediums. Business intelligence is helping the food industry to identify and develop sustainable methods through eco-friendly technologies. Food companies are leveraging BI-powered data collection tools to meet environmentally sustainable demands.
Check Out: Top BI and Analytics Companies
Oil & Gas Industry
BI and other associated technologies can obtain insights from geological data to find out the location of oil and gas deposits. Today’s data-driven technologies enable the oil & gas industry to keep control over oil & gas prices and increase their profitability.
Inventory loss is a constant problem for both brick and mortar stores and online eCommerce. BI and data warehousing solutions empower retail companies to track their inventory stocks more closely and reduce their business losses.
One of the major issues interrupting the global pharmaceutical industry is the lack of non-compliance to health regulations due to the distribution of expired medicines along with managing product patents. BI tools allow pharma companies to minimize the distribution of products (with expired dates). In addition, this technology is reforming traditional patent laws and improving the rate of new drug development.
The fashion industry heavily counts on BI and other data-powered technologies to figure out customer needs and gain a competitive edge. BI-driven insights enable fashion companies to target the right fashion clothing to their consumers. In addition, fashion companies can discover global trends in the fashion industry and determine the right business goals.
See Also: Top Retail Technology Companies