BUSINESS ADMINISTRATION
ACCOUNTING FOR MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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business process reengineering
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process elimination
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business intelligence
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planning
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Detailed explanation-1: -Competitive intelligence, sometimes referred to as corporate intelligence, refers to the ability to gather, analyze, and use information collected on competitors, customers, and other market factors that contribute to a business’s competitive advantage.
Detailed explanation-2: -The Need for Decision Intelligence in Today’s Businesses The decision-making process in businesses is mostly the same: you collect data, visualize it, find critical insights, and then use those insights to make decisions. It is a linear process where you’ll make a decision after the data is collected and understood.
Detailed explanation-3: -The four cornerstones of Market Intelligence are Competitor Intelligence, Product Intelligence, Market Understanding, and Customer Understanding.
Detailed explanation-4: -Business intelligence combines business analytics, data mining, data visualization, data tools and infrastructure, and best practices to help organizations make more data-driven decisions.
Detailed explanation-5: -Marketing intelligence is everyday data that is relevant to the marketing efforts of an organization. Once collected, this data can be analyzed and used to make informed decisions regarding competitor behaviors, products, consumer trends, and market opportunities.