Managers use Business Objects as a business forecasting tool.
If you can forecast or predict customer buying patterns, you can design new products and services to serve those buying patterns. This is the focus behind Business Objects Predictive Analysis software and tools. Companies use these tools to design better products and services and increase profits
Definition
BusinessObjects Predictive Analysis is a predictive or business forecasting tool for companies. This tool comes in the form of database mining software with supporting analytical tools.
Application
Corporate managers can use BusinessObjects Predictive Analysis to make well-informed proactive decisions. It's a decision support tool. For example, often valuable customer buying patterns are spread among multiple non-related corporate databases and BusinessObjects Predictive Analysis software is designed to comb this data, stitch together the hidden value and deliver that value to corporate decision makers.
Benefits
The valuable data delivered to corporate decision makers may result in an improved product or service or the creation of new products and services. For this reason, large retail companies, such as Wal-Mart, often track sales data in real-time as sales are made at retail counters nationwide and funnel it back to key analytical tools and decision makers.
Tags: Predictive Analysis, Business Objects, BusinessObjects Predictive, BusinessObjects Predictive Analysis, buying patterns, decision makers, products services
