Direct Business Analytics Examples in Action

Real-Life Examples of Business Analytics

Before the digital revolution, business owners relied on a lot of guesswork to make different types of decisions. While companies did collect and use data, they didn't have access to artificial intelligence and machine learning techniques. Nor did owners have the time or resources to comb through information and identify patterns. Large enterprises had the resources to hire a traditional business analyst to review and assess business data. But small companies didn't have this luxury.

The one advantage that small company owners had was that few other organizations could afford to hire business analysts either. Nowadays, they don't have that option. Both small and large businesses have access to analytics tools and other self-service solutions. Now, everyone uses them to optimize decision-making and streamline business operations.

Business intelligence is what drives and supports the business world. With case studies showing that big data is on the rise, companies have no choice but to use quality data sources and business analytics tools.
The analytics process enables organizations to make the most use out of their collected business data. With the help of a data analyst and/or BI tools, companies optimize data access, interact with specific data sets, and facilitate information sharing.

In short, organizations can drill down into data to extract actionable insights that help improve decision-making. No longer will business owners use guesswork or instinct to make choices. Data-driven insights are far more reliable and can further drive profitability. So, how does this all work in the real world? Read ahead for some top analytics examples and success stories.

1. Business Analytics Examples HelloFresh

Meal-kit company HelloFresh used a time-consuming, manual form of reporting for all of its marketing campaigns. They needed a centralized place to house their data and a better way to use BI. As a result, they invested in a new automated business intelligence BI system for digital marketing optimization. This saved HelloFresh's marketing team 10-20 hours each day, ensuring they no longer had to perform tedious tasks. It also enabled the corporate marketing team to curate customized, regional advertising campaigns based on the data collected.

With better data aggregation of consumer behavior, they generated 3 customer personas. This radically transformed their efforts and allowed them to personalize campaigns more effectively. Because HelloFresh used the new BI tools to view and track real-time data, they could quickly react to new preferences. Using business intelligence increased conversion rates, customer retention, and brand loyalty. It also drastically increased employee morale because teams could work more efficiently.

2. Business Analytics Examples REI

Outdoor retail shop REI struggled to track how many members they had due to their outdated BI system. REI realized that a failure to track acquisition and retention was impacting sales. With a new big data analytics platform, they were able to further analyze their membership numbers.

This new platform had better data analysis features that enabled teams to drill down into large data sets. REI used these insights to assess whether to invest in more in-person stores or use digital spaces for customers. With the capacity to rebrand to align with member needs, REI improved the customer experience and increased loyalty. They acquired and retained more customers and were able to maintain their competitive edge.

3. Business Analytics Examples Coca-Cola

Operational effectiveness is critical; particularly for large enterprises with thousands of employees. Coca-Cola struggled to maintain optimal efficiency due to its outdated manual reporting processes. This was a barrier to access real time insights into sales/operations data.

With a new BI platform, Coca-Cola automated all of its reporting processes. This saved more than 260 hours annually, which greatly improved morale and efficiency. Sales teams now had complete control over the CRM, with easy access to interactive dashboards. Everyone had the tools they needed to perform statistical analysis and make better business decisions. As a result, there was an increase in collaboration and long-term innovation.

4. Business Analytics Examples Chipotle

Dysfunctional data collection processes negate the entire point of business intelligence and data analytics. If an organization uses various data sources and stores information in separate locations, there will be chaos. And that's exactly what happened to Chipotle. They collected a lot of valuable information but had no way to view it in one centralized location. As a result, it impacted the accuracy of decision-making and made employees waste more time.

Chipotle exchanged its outdated business intelligence system for a much better one. This enabled them to house all data in one centralized location to track operational effectiveness. Consequently, report delivery is much faster and Chipotle has saved thousands of dollars.

5. Business Analytics Examples Des Moines Public Schools

Any school system knows that attendance monitoring is critical to ensure students are successful. Without the capacity to accurately monitor attendance and provide interventions, students fell behind at Des Moines Public Schools. Dropouts were high, teacher morale was down, and at-risk students were in trouble.

Des Moines needed a data scientist or two to revamp their outdated BI system. A team of business analysts used historical data and predictive analytics to identify potentially at-risk students. This enabled early interventions so these kids could get the attention they required. Teachers also had access to this information, so they could be a part of the intervention process. As a result, Des Moines Public Schools lowered absenteeism/dropout rates and improved student and teacher morale.

Key Takeaways of Business Analytics Examples

In conclusion, here are the top real-world examples of the analytics process in action -

• HelloFresh used a new BI tool to optimize its digital marketing. This saved employees 10-20 hours per week and enabled large teams to curate personalized campaigns.
• REI used a new intelligence BI system to use business data more effectively. They could track membership retention and acquisition rates, which improved the quality of customer service.
• Coca-Cola used descriptive analytics tools to save time, money, and gain better control over their CRM. Chipotle used a new business intelligence tool to centralize all analysis data in one data warehouse. This optimized decision-making and made work life easier for employees.
• Des Moines Public Schools hired data analysts to drill down into absenteeism data and drop-out analytics data. They could then enact early interventions to help at-risk students and improve teacher/student morale.