Founded in the year 1892, the Coca-cola company is an American organization that specializes in the manufacture and processing of soft drink beverages and other citrus drinks. The company's most famous drink is the Coca-cola beverage which has been studied to be among the most common drinks all around the world. The Coca-cola company produces about 2,800 products thereby catering for the largest beverage supply void in the market. Having established its presence in over 200 countries, the company is the largest beverage maker in the world and also gets ranked among some of the largest corporations in America. Coca Cola's headquarters are located at Atlanta Georgia.
Despite the company's huge influence in the beverage sector, the Coca-cola company has experienced various challenges in their production activities. According to the C.E.O James Robert B. Quincey, the company has continued to face challenges which they are constantly working to overcome. One of the major challenges that the CEO was keen to highlight was the rising interest rates that are continually making it hard for the business to expand or acquire new machinery in order to improve the company's production methods. Besides the high-interest rates, there is also the issue of stiff competition from other similar service providers such as Pepsi who are always providing the company with a steep market challenge.
Last year, the company reported a record drop in stock price falling more than 25 percent in the previous year (Negash, & Gray, 2008). With such challenges being witnessed, the use of business intelligence (BI) frameworks in the company's operations would help the company cope and deal with various challenges that they are facing in their operational activities thereby improving the overall returns and other expansion prospects.
Advantages of Using Business Intelligence Frameworks
There are numerous advantages that come with the use and integration of business intelligence frameworks. Operating a business in the 21st century requires smart decision-making skills and the ability to use any available data reliably. Information is an important tool that any company could apply to bolster its operational activities (Chen, Chiang, & Storey 2012). In the case of Coca-cola, the company could largely benefit from incorporating business intelligence tools in their operations in that, by studying the market trends and consumers behavior in their products, the company could make predictions on anticipated changes and therefore make necessary adjustments beforehand thereby influencing the changes in their favor.
Using BI tools will help the company to generate reports to guide decisions regarding aspects such as expenses, staffing, operation processes from all its segment. Consequently, BI tools would be vital in tracking, managing, and implementing performance goals for the whole organization as well as its various divisions. This would help identify the divisions that are pulling down the company profits and therefore make appropriate decisions that will help solve the underlying problem.
Datasets for the Coca-Cola Company BI Analysis
Coca-cola company has a large business investment platform owing to the company's broad range of products that they offer in the market. Various datasets would come in handy for the company's business intelligence implementation strategies. Examples of various datasets that could be utilized by the Coca-cola company may include; purchase price trends for the company's raw material providers, competitors marketing and pricing strategies, predictions in future market trends among other data sets. By critically analyzing the above data sets among others, then the company could be in a position to make improvements in their operational activities and therefore come up with strategies to combat any shortcomings in their operational activities.
BI Tools for the Coca-Cola Company
It is evident today that with the dawn of the internet business research operations have been made easier given that any kind of information required is just a click away. For the Coca-cola company, there are various BI tools that the company could apply in the aim to combat its operational shortcomings and optimize their overall profit returns. Various business intelligence tools come with their own unique features and the preference of one intelligence tool over another may depend on the user's preferences or depending on the kind of information that the business operator is in search of.
For the Coca-cola company, Tableau is the best fitted BI tool for the Coca-cola company due to its one of a kind highlight. For example, it is a pioneer of intuitive examination where clients can assess diverse datasets utilizing a basic simplified system crosswise over the different dashboard. Presently, Tableau is viewed as the most inventive BI device in the market. Furthermore, the product enables dashboard-to-dashboard collaborations are giving the clients a lot of emphasis and improvement conceivable outcomes (Bose, 2008). At last, its Security Assertion Markup Language (SAML) include makes it conceivable to make a solitary sign on involvement. The element is convenient for the organization given its numerous divisions and offices.
Through the execution of BI instruments in their activities, the Coca-cola organization can restore its tasks to recuperate from its misfortunes throughout the most recent couple of years. Since the organization covers various enterprises, the investigation can be helpful to give administrations fixing to the results of its produces. The constant examination will enhance the proficiency of the organization by empowering machines to adjust consistently by limiting downtime brought about by disappointments. At long last, the organization can extend its venture portfolio further by assessing business openings from the industrial web.
Bose, R. (2008). Competitive intelligence process and tools for intelligence analysis. Industrial management & data systems, 108(4), 510-528.
Chen, H., Chiang, R. H., & Storey, V. C. (2012). Business intelligence and analytics: From big data to a big impact. MIS Quarterly, 36(4).
Negash, S., & Gray, P. (2008). Business intelligence. In Handbook on decision support systems 2 (pp. 175-193). Springer, Berlin, Heidelberg.
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