Essay Sample on Business Intelligence Design Strategy

Paper Type:  Essay
Pages:  3
Wordcount:  674 Words
Date:  2022-11-24

Introduction

The development of technology has been widely implemented by both governmental and non-governmental organization. Outstandingly, the business industry has extensively embraced technology in the day to day operations of the business. Business intelligence is widely utilized in the business industry in accelerating and improving the decision-making process. The BI technology stores business information in a data warehouse where information regarding the organization can easily be retrieved (Chen, Chiang &Storey, 2012).

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Importantly, the data warehouse helps in organizing data which in turn helps in easy retrieval of data when making specific decisions, hence, saving the business entity time and aiding in the decision-making process. For example, if to decide the production process, the team will access an organization's information about production from the data warehouse tool. It is also essential to indicate that the BI tools through the data mining process provide the decision makers with adequate and new information that act as insight for new decisions. In this case, the Bi provide possible solutions and actions to be utilized in dealing with a specific problem which in turn helps the decision making the team to arrive at an informed decision effectively (Gangadharan & Swami, 2004).

Firstly, the suggestions provided to the organization significantly save the decision-making team adequate time used in gathering, discussing and assessing different solutions. In this case, the team is readily provided with possible solutions and actions. Additionally, the Sisense software in BI is also utilized in breaking down and analysing complex data as well as providing insights to big data which in turn allows the decision making the team to access, comprehend and use the complex and large data in the decision-making process which further plays an important role in arriving at informed decision. The sense software can collect data from different sources which in turn provide a variety of information that can be used to arrive at an informed decision. Additionally, statistics indicate that the license is ten times faster when compared to other software which fastens decision making processes. It is also essential to indicate that the BI allows timely and accurate reporting, analysing and reporting on the activities of a business.

Secondly, using the Customer Relationship Management tool of the BI, a business have access to customer information. As a result, the CRM enables the stakeholders of an organization to understand its customers regarding needs, wants, tastes and preferences which further help the organization to produce goods and services that meet the consumer needs. The CRM collects customers data stored in the data warehouse, analyze the data to make sense of the data. The data is then represented on tables and charts demonstrating the sales returns as well as methods of attracting new customers while at the same time retaining the old customers.

Additionally, the CRM also provides information about the post-sales services which are further used to attract customers. In this case, the CRM allows a business to understand its customers as well as providing adequate suggestions that can be utilized in making informed decisions that directly and indirectly affect the consumers. Consumer information also allows a business to determine the sales of the organization as well as establishing effective marketing strategies which are key to achieving business success (Negash, 2004). The CRM also enable the organization to understand consumer trends, and hence, allowing a business to produce goods and services that meet the patterns which further increases a business' profitability. The BI also allows easy visibility of the business. Technology plays an important role in making work easier; in the business industry the use of the BI tools such as the demo allows easy management of people and resources in business as well as ensuring accountability.

References

Chen, H., Chiang, R. H., & Storey, V. C. (2012). Business intelligence and analytics: from big data to big impact. MIS quarterly, 1165-1188.

Gangadharan, G. R., & Swami, S. N. (2004, June). Business intelligence systems: design and implementation strategies. In Information Technology Interfaces, 2004. 26th International Conference on (pp. 139-144). IEEE.

Negash, S. (2004). Business intelligence. Communications of the association for information systems, 13(1), 15.

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Essay Sample on Business Intelligence Design Strategy. (2022, Nov 24). Retrieved from https://proessays.net/essays/essay-sample-on-business-intelligence-design-strategy

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