Computer-based techniques used in identifying, extracting, and analyzing ‘hard’ business data, such as sales revenue by products or departments or associated costs and incomes. Objectives of a BI exercise include (1) understanding of a retailer’s internal and external strengths and weaknesses, (2) understanding of the relationship between different data for better decision making, (3) detection of opportunities for improvement, and (4) cost reduction and better deployment of resources.
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