What is Business Intelligence: Business intelligence is necessary for the development and growth
of the business. The strategic mission and goals of the organization are the expansion in business, profit generation, long-run sustainability, higher market share, increase in the number of customers and provide the quality and standard products and services in the consumer market. Business intelligence aligned the operations and process according to the set goals and missions. The organization can work according to the set strategies. Any kind of deviation from the goals and mission becomes the problem for the organization. Therefore, the use of the business intelligence is necessary for perfect operations. Since once you comprehend what are the client needs and needs then you will have the capacity to coordinate worldwide utilization inclines that could build the productivity of its association. Thusly, the data framework that gives Business Intelligence by gathering and dissecting information conveying required data to the correct chief at the perfect time. Another extraordinary advantage of the Business Intelligence is its capacity to recognize and distinguish association’s issues that will require an interior change (Chen, Chiang, & Storey, 2012).
In addition to this, business Intelligence helps the organization to keep up to date and accurate information about the projects and current operations. It also provides the effective monitoring of the current situation, working direction and achieving the short-term goals that are necessary to achieve the strategic missions. Monitoring is an essential part of the management; otherwise, any kind of the risk cannot identify and cause serious consequences for overall business of the company. Time to time needs and demand of the business also identify by the Business Intelligence (Lehaney, Lovett, & Shah, 2011). The strategic missions and goals of the organization always develop according to its cultural, available resources, expertise and analysis of the external environment. After analyzing the need assessment, the organization decided to build or adopt a system for the betterment of the organization. Business Intelligence helps management in the decision-making process and estimates the proper implementation and influence of the system in the business. It is mandatory that all the decisions should be in light of the strategic goals and missions.
Market analysis is necessary for the management to understand the type of business intelligence program which can be feasible according to the structure and size of the organization. It is recommended that special program will beneficial for the organization. Already available packages are not so effective because the organization has to make the various goals and strategies to achieve those goals. Business intelligence will work with the local system and ERP system to manage the operations at the corporate level. The productivity and efficiency of the organization also increase due to the use of the Business Intelligence. This is the arterial intelligence but is too feasible and supportive for the organization. In addition, it saves cost and time for the organization. The risk of rework is also eliminated as it occurs fewer errors. Therefore, the organization should have a lot of sources to invest in other projects or in new technology (Varajão, 2012).
Technology plays important role in development of the organization. With an implementation of the ICT applications along with business, Intelligence will help management in monitoring, controlling and also in a decision-making process. The key mission and objectives of the association are the extension in business, benefit era, long-run manageability, a higher piece of the pie, increment in the quantity of clients and give the quality and standard items and administrations in the buyer advertise. Observing is the basic piece of the administration; generally, any sort of the hazard can’t distinguish and cause genuine results for general business of the organization. Time to time needs and request of the business likewise distinguish by the Business Intelligence (Management Association, Information Resources, 2016).
Also Study:
Business Intelligence Tools and Techniques in Marketing
References:
- Chen, H., Chiang, R. H., & Storey, V. C. (2012). Business Intelligence And Analytics: From Big Data To Big Impact. MIS Quarterly , 36 (4), 1165-1188.
- Lehaney, B., Lovett, P., & Shah, M. (2011). Business Information Systems and Technology: A Primer. Routledge.
- Management Association, Information Resources. (2016). Project Management: Concepts, Methodologies, Tools, and Applications: Concepts, Methodologies, Tools, and Applications. IGI Global.
- Varajão, J. E. (2012). Organizational Integration of Enterprise Systems and Resources: Advancements and Applications: Advancements and Applications. IGI Global.