Benefits Of Implementing Business Intelligence Systems

This gives businesses the opportunity to create product differentiation strategies that will help them establish and maintain a competitive edge in the market. This information also helps identify specific opportunities for further growth and development with existing products and services as well as potential opportunities for new products and services. The data gathered in this way helps businesses create successful marketing strategies that will appeal to customers personally and help promote great brand recognition. This area is so intriguing and worth more knowledge and development because it creates opportunity to get a better understanding of how people personally identify with the product or service they use and the why behind it. This method goes against the grain of management skills in which they stress the idea behind information is only as valuable as the money it can produce as this often refers to concrete numbers or dollars and sense and qualitative data is not captured in that way. It brings back the idea of getting to know your customers on a more personally level which helps to build trust and relationships that can be lost when looking at big box industries.

2. Business intelligence: Delivers synchronized, business-critical data in a variety of diagnostic tools to view market trends and build relationships that help facilitate timely decision making (Microsoft Dynamics NAV, 2011).

This report is an analysis of business intelligence systems currently available to our business. As an introduction, I will address in general terms why we need to purchase a business intelligence system and how it will aid our business. Then I will discuss several applications in detail, paying particular attention to the information and analysis capabilities of each, and the hardware and software required for each. Finally, I will conclude with a short evaluation of the products discussed and offer a recommendation as to the best application for our business. I will pay particular attention to IBM, Microsoft, SAP, and Oracle.

Some of the main purposes of business intelligence are to use in comparison to competitors, reveal changes in customer behavior and spending patterns, and determine the market conditions and future trends in the industry (“What is business intelligence”, n.d.). Business intelligence allows businesses to see how their sales, products, and services compare to that of their competitors. In doing so, the company is able to determine what needs to be changed, as well as how to improve upon existing competencies. Another benefit to implementing a business intelligence system is that companies are able to see the trends in customer spending patterns. Over time, a company might see sales dwindling in a certain product because it has been overshadowed by a new release. For example, with the release of the PlayStation 4, retailers have noticed a decline in sales of the PlayStation 3. This means that retailers must carry lower stock, or none at all, of the

When thinking about Business Intelligence tools for visual interfaces (dashboards) to assist in monitoring business performance, Tableau is currently all the rage and the top of many companies’ wish lists for software to incorporate into their business and skills for those in which they employ. However, for many companies the investment in both the software and the people with the skills to use Tableau may be just out of reach… especially for companies who are cautious to “jump on the bandwagon” for what is the current hot trend in the market.

Business Intelligence (BI) is defined by IBM as, “the discipline that combines services, applications and technologies to gather, manage and analyze data, transforming it into usable information to develop insight and understanding needed to make informed decisions.” (IBM.com, 2006) In its most basic form, BI is an umbrella principle that synergizes the core understanding of your business, including all of its facets, and acting on what that foundation is made up of.

Business Intelligence can be defined as the combined form of developing and learning the data that has been collected from various sources and then analyzing it. Business Intelligence is also used to provide the data in an interactive access to the data which enables the business analysts to process out certain analysis by making necessary manipulations in the data. The data that gets manipulated and analyzed includes the historical data along with the current data along with the performance levels and the situations through which the analysts are able to make precious insights that can be used to provide solutions that can result in benefitting the organization. Thus, Business Intelligence is basically taking actions based on the decisions that are taken by considering the transformed or the manipulated data (Turban, Sharda, Delen, King, & Aronson, 2011, p. 08)

Business intelligence is the ability of a business to be able to extract actionable insight from business as well as market data, which is used to make better decisions in business; and to improve the corporate performance of the business. Business intelligence must exist for businesses in the world today to survive(Electrosmard Ltd). Almost every business today worth its salt is looking for the appropriate business intelligence technology in order to survive in today’s fiercely competitive world. Business intelligence also helps companies and businesses to survive during hard economic times. During such periods, it is not a surprise to find companies still spending on the processes of business intelligence because without such solutions, there is no business at all. In any case, there is a business; it is most likely on the decline in terms of productivity and revenues. Business intelligence is not a onetime thing; it is an ongoing process. Business intelligence goes on as long as the business is still running; the business intelligence continues to exist too.

Business intelligence can provide companies with accurate data that can be analyzed to support business strategy therefore enabling companies to better predict effectiveness of their business goals and ultimately result in a business profit. “Business intelligence is already in use in many organizations today, by finance departments to analyze financial performance, sales and marketing to identify customer trends, and operations to enhance the efficiency of supply chains. Using real data helps them answer who, what, where, why and when of related performance” (Rylander,2009).

In the present day business world, an organization needs great analyzing and decision-making capabilities to achieve the challenges. Business Intelligence (BI) offers approaches to improvise business decision making by consuming fact-based support systems (Lim et al., 2012). SAP BI offers BusinessObjects, which provides tools those are helpful in easy discovering and sharing acumens for enriched business decisions (SAP1, 2011). SAP BusinessObjects is an enterprise software company, specializing in BI and produced tools such as BusinessObjects XI, Dashboards, Crystal Reports (Wikipedia1, 2014). SAP also offers BusinessObjects BI suite which primarily consists of three functional use cases: Discovery and Analysis, Reporting, and Dashboards and applications (SAP2, 2014). SAP Analysis tool, edition for OLAP is one of the analysis tools, to run advanced multidimensional analysis of OLAP sources which helps in answering analytical questions straightaway (SAP3, 2012). Crystal Reports is one of the Reporting solutions offered by SAP, which is concerned more about greatly formatted production reporting (SAP2, 2014). SAP offers BI dashboard which is used for data visualization. It can modify a flat excel sheet into interactive and pliable presentations (Obily, 2013).

complicated. It is a major mutual concern for all business and IT sector companies to change the existing situation of "mass data, poor knowledge" and support better business decision-making and help enterprises increase profits and market share. Business intelligence technologies have emerged at such challenging times. Business today has compelled the enterprises to run different but coexisting information systems.

Jones, stakeholders is people, groups or other organizations who have an interest, claim, or stake

Traditionally, business intelligence (BI) has been used as an umbrella term to describe the concepts and methods to improve business decision making by using fact-based decision support systems. BI also includes the underlying architectures, tools, databases, applications, and methodologies. BI’s major objectives are to enable interactive and easy access to diverse data, enable manipulation and transformation of these data, and provide business managers and analysts the ability to conduct appropriate analyses and perform the actions [Turban et al. 2008; Wixom et al. 2011]. Successful BI initiatives have been reported for major industries, from healthcare and airlines, to major IT and telecommunication firms [Anderson-Lehman et al. 2004; Carte et al. 2005; Turban et al. 2008].

For instance, a product launch can be strategically planned using predictive analytics, if we know our customers better. The sales and the marketing teams work closely with analysts and data scientists to understand how well the historical data can predict the customer potential and possible

The Management Information Systems is known in short form as MIS and we commonly called like that and this study of information leads to making of strategic decisions in every level of an Organization. And it mainly provides accurate and timely strategic reports.