Making

Making Time for Professional Development When Owning a Business


8 min read

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This article was written by Alex Sixt, a member of the Entrepreneur NEXT powered by Assemble content team. Entrepreneur NEXT is our Expert solutions division leading the future of work and skills-based economy. If you’re struggling to find, vet, and hire the right Experts for your business, Entrepreneur NEXT is a platform to help you hire the experts you need, exactly when you need them. From business to marketing, sales, design, finance, and technology, we have the top 3 percent of Experts ready to work for you.

Whether you’ve been a business owner for years, or you’ve just begun your journey into entrepreneurship, professional development is likely one of the last tasks on your mind. With so many business needs pulling you in multiple directions, it can be easy to forget to spend time developing yourself.

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Business Intelligence’s impact on driving better decision making

Decision Making Business intelligence

This is a guest post.

Business Intelligence can be interpreted as the technological process for one to scan and inspect raw data for gathering actionable insights and converting that insight into an informed decision for business. Using BI solutions companies are not only able to study their past performance but also predict the future trends.

BI practices are able to increase performance of their activities as they are more focused and data driven, leading to much higher results in performance and outputs. The combination of new generation analytical tools and machine learning has given BI a huge boost to using raw data for insights.

Let’s understand how BI has impacted the business world by allowing for more informed decision making:

Business intelligence software like Microsoft Power BI, comes with interactive dashboards and visualizations options for looking at different components of business in a meaningful way. It increases the understanding of

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AI and machine learning are making insurance more predictable

Data helps the insurance company, the agency, and the customer make better predictions and choices.

Paper cut of insurance concept on green grass background. Car insurance, life insurance, home insurance to protection by umbrella.

Image: ChooChin, Getty Images/iStockphoto

More about artificial intelligence

Insurance is a data-driven industry. Data qualifies risk and is used to perform pricing on policies that mitigate that risk. During the process, different parties get involved.

Because insurance carriers want to sell products that cover the risks, they perform algorithms against large datasets that are capable of uncovering risks. 

SEE: Top 100+ tips for telecommuters and managers (free PDF) (TechRepublic)

Agents want to better understand the needs of their customers and prospects. They want systems that enable them to punch in a name so they can query public and private data on a prospect—with the dual goals of understanding the risks that could be involved and understanding their customers better.

Finally, there are the insured customers: They want better products and claims processes.

“All of these

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Business Intelligence Helps in Strategic Decision Making

September 17, 2012 Jim Iyoob

Business intelligence helps extract crucial facts from a vast amount of unstructured data and transform them into actionable information that enables companies to make informed strategic decisions, improving operational efficiency and business productivity. This actionable information provides crucial insights that reveal the underlying currents of customer behavior, their likes and dislikes, online shopping experience etc. Everyday contact centers handle thousands of customer interactions that hold virtually untapped vital insights which can be efficiently leveraged to provide immense value to businesses. This information remains largely under utilized except when evaluated for Quality Assurance purposes.

Business intelligence can arm companies with rich data resources that can help them achieve their business goals and targets by guiding timely strategic decisions. Interactions with customers in the form of voice calls, chat interactions, emails etc can be thoroughly analyzed by business intelligence gathering teams to shed light on aspects such

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