These models may be used for forecasting purposes or to examine the numbers
in relation to norms and standards throughout the industry. One is example is when
a business manages pensions or other retirement funds for its employees. The
performance of these funds can easily be compared to a number of standard financial
indexes, and future performance can be forecasted and compared against future
payout forecasts.
Many manufacturing and transportation businesses also employ models that
help predict costs based on the price of oil. Some of these models might also have
to include currency fluctuations if some of the raw materials are purchased from
foreign businesses. These complex statistical models require flexible software that
gives analysts nearly unrestricted access to the data. Some of what these analysts do
is considered data mining, a technology which uses statistical models to examine
data for relationships or make predictions based on existing data.
Line Workers
Line workers are those workers on the front lines and may include assembly line
workers in a manufacturing company and cashiers in a retail establishment. Many
such workers benefit from business intelligence although they may not realize it.
Data derived from a business intelligence process may be integrated into line of
business applications that allow line workers to better do their jobs. Cashiers in a
retail establishment might be able to recommend complimentary or replacement
items based on customer preferences.
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