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Brief
While it’s true you can do BI with old data, there are many opportunities to be exploited by the business having immediate data knowledge; for example: 1.Track the effect of marketing initiatives close to real-time
2.Perform A/B testing of online channel promotions and tweak based on customers’ real-time reaction
3.Discover a spike in a products’ demand and quickly react to ensure adequate supplies are available
4.Area and regional managers can track the performance of stores and departments with constant updates
5.Cash management and collection at counter and store level are visible in real-time and can be managed accordingly
6.??Excess stock can be discounted in stores, or online, with the price-point altered to enable the best clearance in the shortest time
7.Inventory levels and margins are tracked much faster, enabling profit maximizing decisions
8.Fraud detection, especially around the use of credit cards, can be more reactive - security staff can contact the counter staff within minutes. And, even if the person of interest has vacated the premises, a fresh description of the individual can be generated