A new trend has emerged in the modern business environment in which companies are seeking to build what is referred to as "Business Intelligence" or BI for short. This has been viewed as one of the most important organizational priorities for many organizations in the last decade and it is unlikely that this trend will end anytime in the near future. The reason for the BI is pretty clear. Companies have been collecting and warehousing various types of data for many years. BI deals with the means in which companies can make better use of the data; often in real time. This allows companies to better harness information to better support organizational goals and their business objectives. Many of the BI technologies that have developed over the years can deliver better reporting mechanisms, dashboards, and different business metrics so companies can spot various trends and gather insights that can allow the company to ultimately become more competitive. Yet, in spite of the obvious appeal of the benefits a Bi system can offer a company, the development of these systems has been a relatively slow and arduous process. This paper will introduce some of the best practices for current BI systems, as well as some of the possibilities for these systems to further develop in the future.
Companies are adopting business intelligence system within their organizations because by using the system reports they can gain the advantages of understanding their internal strength and weaknesses to face external competitors and challenges to increase profits and reduce cost on their everyday operations and processes.
Next, it is necessary the ERP be able to facilitate a rapid and smooth integration of multiple business units. This is important because it allows an organization to manage and automate the essential functions of all units within the company. This function integrates key business processes into one system allowing Hunter manufacturing the ability to increase efficiency and eliminate any barriers between business units. This capability gives management the big picture status of the whole company allowing for better management decisions and more efficient operations both now and in the future (abas-erp.com). In addition, the EPR should be able to integrate operational data across all departments making it easier to track workflow.
Enterprise Resource Planning (ERP) is now being hailed as a foundation for the integration of
MIS can play a huge role in efficiently supporting the same model, of decision–making support. Many organizations opt for the implementation of an Enterprise Resource Planning (ERP) system to “collect, store, manage, and interpret data from many business activities” (Wang, 2014, p. 2). Enterprise resource planning systems are an integrated network of software applications that can reveal information to various departments throughout an
To be successful in today's competitive and continuous evolving information technology (IT) market companies must be able to utilise their skills, information and knowledge to the highest efficiency level possible. Utilisation of and control over these factors will aid companies in acquiring and maintaining competitive advantages over others operating in the same competitive IT market. The implementation of an Enterprise Resource Planning (ERP) system would be perfect to suit a
Business Intelligence is process of data analysis that concentrates on business processes by helping all the higher executives in the corporate world and also the end users in making informed decisions. Business Intelligence consists of mixed tools and instructions, applications and philosophies that empower associations to gather information from inner frameworks and outside sources, set it up for analysis, create and run queries against the information, and make reports, dashboards and information visualizations to make the logical results accessible to corporate leaders and in addition operational specialists.
According to Sauter (2010), business intelligence is defined as a goal, information is provided to decision makers in a timely manner to solve organizational problems or to act on opportunities for the organization. The business intelligence system aids decision makers in better understanding problems through data. Business intelligence has become necessary due to globalization and the rate of speed in which business is conducted today, 24/7. Information alone, is not business intelligent. The information must be “intelligent” (p. 56). Intelligent information is information that is important to the organization and aligns with the organization 's goal (Sauter, 2010).
Three types of business intelligence (BI) exist, according to the general consensus of the IT industry: strategic, tactical and operational. Strategic BI and tactical BI are typically used in combination by senior managers and business analysts to
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 (BI) is defined as the set of techniques and tools for the transformation of raw data into meaningful and useful information for business analysis purposes. BI has been around long before computers and access to the internet. For example, an old ship building yard would have to keep track of its various transactions, employees, profit, suppliers, materials, etc. The shipyard owner would then turn this collected raw data into useful information in order to figure out where the company is going wrong and where it can improve. If the suppliers have not shipped on time for weeks the shipyard would know to find more reliable suppliers - this is a very simple example of utilizing business intelligence. In
In the last few decades, because of availability of vast amount of data in the electronic forms, and the increase in requirements associated with its conversion into desired information, for its use in analysis of market, business management and to aid in decision process. There are many systems and technologies developed, that helped managers to make better decisions and avoid failures that are commonly associated with relying upon intuitions. Business Intelligence Systems are information systems, that are designed to allow managers to capitalize upon organization data, for the purpose of improving their decision making. They do not support the real time activities but operational ones like order processing, recording etc. The real time activities are supported by transaction processing systems. BI systems helps in managerial assessment, planning and control.
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.
There are several common approaches to ERP integration, and each provide their own unique strengths and weaknesses.