Foresight helps urban management organizations make strategic decisions that will lead to their long-term growth and sustainability. Decisions are made based on accurate and data-driven analysis. Business intelligence in the future space can identify market opportunities before competitors, as well as predict potential threats such as changes in citizen behavior, increased financial risk, or economic and urban management developments. Technologies such as artificial intelligence, machine learning, big data, the Internet of Things, and real-time analytics play an important role in foresight scenarios. They analyze big data and discover patterns of human behavior, consumption, sales, or even environmental conditions that give decision makers a better view of the future. One of the results of foresight is the optimization of urban management organizational resources. For example, by predicting demand, better planning can be done for production, supply chain, or urban management marketing. In the healthcare sector, it is possible to predict the spread of diseases or future treatment needs. In the banking industry, it is possible to identify credit risks or predict financial fraud. In the manufacturing sector, it is possible to predict equipment failure or the need for raw materials with high accuracy. However, challenges such as data security and privacy, high costs, data processing infrastructure, lack of skilled labor, as well as poor quality of raw data may distort the results of the studies. Despite these challenges, foresight in the field of business intelligence is considered a key competitive advantage. So that organizations that are able to transform data into insights and insights into forward-looking decisions can better shape the future.

Business intelligence also plays a very important role in financing urban development projects, because by carefully examining data, it identifies the financial risks and opportunities of projects and helps investors and city managers make smarter decisions. In the area of ​​financing, business intelligence can predict appropriate financial resources and estimate return on investment so as to prioritize projects based on profitability and economic sustainability. As a result, investments will be more targeted and less risky. In the marketing sector, business intelligence also provides a basis for companies to more accurately market their products to urban target markets, have appropriate pricing, and implement personalized marketing strategies. Using this data, city management organizations can better understand the needs of their audiences and consider marketing budgets intelligently.

But there are also challenges in this area. One of the most important challenges is the lack of high-quality and standardized data in the field of urban issues, which can distort the analysis. Another challenge is the ability to analyze large amounts of data, which requires a workforce specialized in data science, business analysts, and data management. The costs of implementing software and hardware infrastructure for business intelligence and ensuring information security are also other important obstacles. Organizations that do not have a data-driven decision-making culture and resist change prevent the full use of business intelligence.

Globally, many cities in developed countries use business intelligence to advance economic and marketing projects. For example, the city of Dubai has been able to attract more foreign investment by using business intelligence in urban development and tourism projects. Singapore is one of the leading countries in using smart data for urban planning, infrastructure financing, and tourism marketing management. In Europe, the city of Barcelona is better managing urban projects by analyzing traffic, tourism, and local economic data. In the United States, cities such as Seattle and Chicago are using business intelligence to manage budgets, develop local businesses, and market their cities. In Iran, some banks, insurance companies, and large industries such as petrochemicals, automotive, and retail have recently turned to using business intelligence systems to more closely monitor citizen behavior and performance. For example, in Tehran, some chain stores use business intelligence to manage inventory based on customer purchasing patterns, or the insurance industry uses analytics to identify risks and potential fraud.

In the future, business intelligence will move towards fully automated analytics by integrating with advanced artificial intelligence and machine learning. Systems will be able to automatically discover hidden patterns in data and provide suggestions for decision-making. Also, by using special analytics and natural language processing, users can receive complex reports and charts without complex technical knowledge, just by asking text questions. Some tools in business intelligence will also automatically perform tasks such as data cleaning, selecting key performance indicators and building dashboards for citizens' needs. It can be said that business intelligence is a bridge between data and smart decision-making in urban life. In modern financing of urban development projects, it reduces risk and increases investment efficiency, and in marketing it will lead to better understanding of other citizens and higher success in life. Despite technical, cultural, and financial challenges, countries and cities that have been able to properly utilize the potential of business intelligence have been more successful and competitive, indicating that the future of business without business intelligence will be a vague and inefficient one.

Economy24