Implementing Business Intelligence in an Organizations

Implementing Business Intelligence in an organizations

Introduction

Today, companies are focusing on optimizing operations, acquiring customers, increasing revenue and trying to be ahead of the competition. While the company aims to improve the efficiency of their operations (sometimes quickly learning from past mistakes), it is obvious for them to devote more time to analyze what occurs and make predictions and plans for the future (Gangadharan, & Swami, 2004). Business intelligence is an effective tool which helps companies to effectively do all the above mentioned activities. In this paper, we are going to do discussion of business intelligence. The paper will include explanation on why we need business intelligence for an organization, how does it help organizations, how this effective tool can be used in different industries such as healthcare, finance, and HR. In addition, we shall provide information on vendors such as IBM, Oracle, SAP, and Microsoft.. Most importantly, we should include discussion on Business intelligence planning and implementation. Overall purpose of this project is to let readers know about the importance of Business intelligence for an organization.

Business Intelligence

Business Intelligence needs a definition from a different perspective. The term Business Intelligence also called as BI is famous from mid 90s. business intelligence is a process and procedure that collect, analysze and presents data in a very meaningful way in electronic form so that users can make effective decisions based on these data sets. The prupsoe of this system is to make operations smooth and strategic decisions more effective. This is done with the aid of analytical concepts and IT systems, evaluate the information about the company, competitors and market developments with regard to the desired insight. With the knowledge gained, companies' business operations, supplier and customer relationship more profitable by increasing value, reducing cots and minimizing the risk. The term is the field of computer science industry attributed. Business Intelligence is a concept which many enterprises are thinking to implement to make better decisions to support their business growth. A BI process includes activities like data mining, online analytical processing, querying, reporting, multidimensional analysis, trends, graphs, and forecasting (Lee-Kwun Chan, 2012). Business Intelligence concept implies to a day to day transactional database system. BI analyses multiple sources of information to obtain require amount of data which will help in decision making. The concept of BI has come into picture in recent years which transmits information of an organization to current market strategic tools, and offering supports in daily decision making (Cristian Bucur, 2012).

Role of Business Intelligence

Business Intelligence through various processes of data transformation, tools, technologies and applications access and analyzes data integrity of an organization. BI allows us to collect, integrate, manipulate, and provide the data to end user for decision-making. BI helps an organization in identifying market opportunities, identifying deficient market segments, identifying potential business segments, identify the most profit making product, determining exact state of sales & volumes of sales, improving decision making and presented main elements for performance measurement, analyzing historical data ...