Business Intelligence

Abstract

Technology is a leading force of lucrative business outcomes in today's competitive market. Business Intelligence (BI) plays a huge role in a constructive supply chain process of many manufacturers. Companies face many struggles when relying on memory and spreadsheet data alone. Retrieving real time data about a company's internal and external strengths and weaknesses, user comprehension of the association between different data to form valuable business decisions, developing new opportunities, cost reduction and optimal use of resources, are all components of Business Intelligence (Business Intelligence). There are four benefits of BI, they are quantifiable, indirectly quantifiable, un-predictable and intangible. These benefits are unique in their own ways such as, making sure companies run more efficient, proven evidence and results and improving communication, job satisfaction and knowledge, respectively. The execution of supply chain involves five groups of users. With so many people involved in the process of a finished product, communication is one of the most relevant and imperative steps. BI allows suppliers, manufactures, distributors, retailers and customers within limitation to retrieve pertinent information from one another. Supply Chain Management is a great resource for planning, executing and predicting. As the future shortly approaches, companies will excel by staying equipped with the newest and smartest technology on the market. BI will continue to grow and be an influence to all areas of technology.

Business Intelligence

Introduction

The word “Business intelligence” (BI) refers to the processes and procedures for analysis in a systematic way. This meaning has been derived in the early mid 1990's. The processing of data is usually electronic. The main objective of business intelligence is to gain the insights of the objectives taking place in a corporate environment and to enable strategic or operational decisions in a better way. This all, however, takes place with the help of the IT system as and analytical concepts. Not only has this, but it also helps to analyze the information regarding a particular company and its development in the market. The knowledge that is gained from all the processes, not only the supplier and customer relationship gets better but also the business operations get more profitable and fruitful. This further helps to reduce the risk, reducing costs that are occurring and last but nit the least it helps to increase the value.

Discussion

Business Intelligence is a solution that supports the process of decision making in an organization, having as main users directors, senior managers and directors, in the background, users with decision-making power. This set of tools (BI) has the ability to extract, transform / load and process large volumes of data from many different sources, whether internal or external to the organization. In addition to this capability, the BI also has the analytical capacity of the data providing users with valuable information for decision making. Considering the time as an influencer and differentiating factor between organizations, the choice and the correct implementation of a BI solution is essential to the success of an organization. However, many organizations implement projects successfully at the technical level ...