Essay On Business Analytics And Business Intelligence

As we discuss the possibility of emerging into business intelligence software we must keep in mind the overall purpose of using any type of software is to reach strategic goals in order to increase market shares. I will discuss how business intelligence software will allow us to meet those strategic goals. We will establish what type of information and analysis capabilities will be available once this business intelligence software is implemented. We will discuss hardware and system software that will be required to run specific business intelligence software. Lastly, I will give a brief synopsis on three vendors (IBM, Microsoft Microsoft and Oracle) that are dominating the business information software

Information – business intelligence – is no longer the exclusive domain of IT or research departments. From marketing and finance to management and operations, intelligence is applied strategically throughout the enterprise. And professionals who know how to gather and leverage it are the ones who will lead organizations, control decisions, and be relied upon to steer their companies.

We cannot all help but notice the steady decline in our market share for the past consecutive 11 quarters. Annual revenue has shrunk by 40% since we last saw a sales growth. Despite all the cost cutting measures that we have implemented we still continue to see a steep decline in sales. To make matters worse we do not know why, we do not know how and do not have any insight on what the competition is doing and how they are doing it. I’m proposing that we adopt a business intelligence system. This will allow us to see the state of our overall processes, and pinpoint areas of improvement or elimination. In short, business intelligence will allow us to better analyze the organization’s plans and results. I will provide us with insight into what is working correctly at the same time identifying potential problem areas

Two related articles (Baller & Alan 2009, Galit & Otto 2010) demonstrate that “Business Analytics (BA) refers to the skills, technologies, practices

Now, in this presentation, my topic is What does research tell us about how to create a successful business analytics program? And What realistic expectations should we have concerning the predictive capability of business analytics.

The purpose of this literature review is to provide an overall perspective to the workings of business intelligence in a corporate environment. With the onset of massive technological gains in the past decade the implementation of business intelligence has grown accordingly. In the workplace the demand for business process improvement, responsive reporting, cutting edge forecasting, and internal business customer relations has triggered a need for a unit that understands the business needs as well as the impact on company technology.

The amount of data available to suppliers has increased over the last several years. Business intelligence is a becoming a larger influence on the profitability of organizations and is affecting their supply chain management. Until recently, there has been little clarity into the relationship between business intelligence, analytics and supply chain management, but with the shift in information technology, organizations can now collect and organize information more clearly.

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

Part 2. How Business Analytics can be used to gain advantage in a competitive marketplace

All great organizations share one thing in common, the use of business intelligence. Business intelligence (BI) provides tools that revolutionize the way organizations manage business and decision-making. It allows them to transform mass amounts of raw data into reliable information necessary to make important business decisions. BI delivers relevant and reliable information to those who seek it with the goal of achieving better decisions faster. An employee is independently able to navigate through a company’s data and find what he or she needs without relying on others. This means an organization no longer needs to dig through compiled webs of linked spreadsheets, analyze the data manually and mash together reports. Instead, employees can use BI systems to request the specific information that is useful for them (Hitachi Solutions Canada, 2014). BI allows managers to reach the most accurate and contemporaneous information an organization’s database cannot retrieve. The software offers applications for both data analysis and presentation of results. Applications such as data mining and decision support systems allow one to contemplate how he or she wants to analyze the data. Data mining refers to the process of searching for valuable business information in a large database, data warehouse, or data mart. Decision support systems combine models and data in an attempt to analyze semi structured and some unstructured problems with

Design, code and deliver user friendly multi-tier business intelligence solutions that utilize data warehouse/data mining technologies to consume data across various database platforms and data stores.

Business intelligence (BI) and business analytics (BA) (sometimes used interchangeably) has revolutionized the way businesses use data and can be contrasted, for the purpose of this essay, in the following way: BI is raw data that has been transformed into meaningful information that provides historical, current, and predictive views of business operations and environment, and BA uses data and statistical methods to provide actionable information for decision makers. BI explains what is happening, identifies the issue, and provides decisions to be made and BA explains why an issue is occurring, what will occur, and what actions need to be taken. At the forefront of BI/BA technology is International Business Machines (IBM) with a very broad array of related products and services. Among the more popular products are its flagship analytics product IBM Cognos and its Predictive Customer Analytics. IBM’s Cognos Analytics allows business and IT professionals to prepare and distribute all types of business reports from all departments with an organization and access pertinent information such as financial reports, sales trends, production yields, and inventory on any device on an hourly basis. IBM also offers a Predictive Customer Intelligence solution, an integrated software which uses automation to acquire customer information such as buying behavior, web activity, and social media presence to model and “score” costumer behavior and provide customized actions so that a business

Business analytics is helping businesses decide where to invest, increase profit and make the most out of their company based on data that is collected and analyzed. As described in the article, The New World of Business Analytics, “business analytics can be defined as the broad use of data and quantitative analysis for decision-making within organizations” (4). The use of this type of research is developing new insights and understanding of the performance of a business. Through the increase in data analysis, companies are able to make decisions based on the information that they have received and studied. Observing analytics can be thought of as, “thinking differently, asking questions, and never being satisfied with doing things the way they have always been done.” (Analytics, Not Statistics, Driving NHL Evolution) As a field that is requiring more researchers, business analytics is becoming a popular field of study at many universities because of the increased need of employees by companies because of the success rate of business analytics techniques. Analytics is observing statistics and finding the meaning behind those statistics. Companies and students in the business field know the “increased importance of quantitative analysis of data for understanding, prediction and optimization.” (“The New World of Business Analytics”, 2) The collection of data is one of the most important steps in the analytics process because without

Business Intelligence is a process of analyzing data. This system is about gathering information from internal and external sourcing. This is for gathering vital information for a business’s needs. The goal of this term is to take hefty amounts of records and put more of a simple structure in place. Business intelligence can give an approach to focus on a direction. I also read that another term for this concept is called data surfing.

Mobile BI, real time BI, operational BI and also includes data visualization software for designing charts and other infographics. The advantages of BI are they help in taking effective decisions, speed up internal processes and increase revenue. They also assist organizations with recognizing business sector patterns and spot business issues that should be attended to.