Answer questions

Explain how Daimler AG used BI to improve its relationship with s. In order to increase its market competitiveness, Daimler AG has embarked on Business Intelligence. For once, BI enables the company to identify the different needs of not only their existing customers but potential ones as well. By so doing, the company is able to cater to the needs of a wide variety of the population; hence, increasing its customer base. The company has been focusing on what customers give value to and what they miss in the transport sector. This enables Daimler AG to find opportunities to become innovative. Therefore, through the use of BI, Daimler AG is able to relate better with its customers as it can tell their needs and attend to them accordingly.
2. Explain why IT/IS are important in the decision-making process.
IT/IS is essential to the decision-making process in several ways. To start with, it enables a company to collect and evaluate data in a near-real-time basis. To make this possible, companies may use various software platforms. Daimler AG, for example, has been using the IBM Cognos Business Intelligence (IBM Corporation, n. p.). The decision-making process becomes more flexible than when manual systems are used. Moreover, the use of IT/IS reduces the amount of time spent on decision-making.
3. Explain how KBB has reinvented itself using BI.
At the heart of KBB’s strategy is analytics. Analytics have revolutionized KBB’s operations in recent years. This is because it has enabled the company reduce the error rate in forecasting vehicle evaluations and optimizing lead generation (IBM Corporation, p1). In addition, BI enables the company to process all its forecast models in a day, something that would previously take four days. The company, therefore, can produce vehicle values that can be delivered in real-time to the market. Previously, it would take up to three weeks to get such information from KBB’s website.
Works cited
IBM Corporation. “ Daimler FleetBoard Makes Commercial vehicles more Economic.” IBM Corporation, 2012. Print.
IBM Corporation. “ Kelley Blue Book: Increases revenue with better, faster data analysis and ad price optimization.” IBM Corporation, 2013: 1-7. Print.