Definition Of Business Intelligence ( Bi ) Essay

The CEO of this company began to take steps into making the company better. Both external and internal driving forces drove this change. The definition of these two terms needs to be looked at in order to understand what they were. External factors are the factors that occur outside the scope of the company or organization, for example, the economy. These factors are outside the influence of the company (Lindbald, 2014). On the other hand, internal factors are factors that occur within the scope of the organization and are within the control of the company.

* Factors of internal environment include risk management philosophy, risk appetite, board of directors, etc.

The assessment of internal factors analyze inside the physical confines of the organization. These factors are within the control of the organization. The internal assessment considers plan implementation, structure, culture, innovation, diversity, ethics, processes and technology. All of the factors can have a grave impact on the success of an organization. This is why the planning function of management is so important. Technology is rapidly changing, and for a business to succeed it must change with the time to adapt to

Strategic planning is designed to leverage the strengths of a firm while minimizing the effects of its weaknesses.  It is difficult to know the potential advantage a firm may have unless external analysis is done well.  For example, a company may have a talented marketing department or an efficient production system.  However, the organization cannot determine whether these internal characteristics are sources of competitive advantage until it knows something about how well the competitors stack up in these areas.

Internal Factors: Internal factors are the factors within the company, which affects the success and operation of business. The company can control these factors. Effective internal management is the key to the successful business.

Business Intelligence (BI) is the consolidation and analysis of internal data and / or external data for the purpose of effective decision-making. At the core of all BI initiatives is a data warehouse to hold the data and analytics software. The data warehouse stores data from operational systems in the organization and restructures it to enable queries and models to extract decision support reports.

The BI tool can be used to analyze and understand the business risk from all aspects of its operations, if implemented and maintained well, this tool will help bring attention to areas that need improvement. (Kapoor,2010).The BI tool can be customized with dashboards that can track all corporate functions like human resources, recruiting, operations, security, information technology, customer relationship management and many more departmental dashboards.

These factors influence the internal environment of an organisation and they help in identifying the past and the present of the company, It also provides a frame work for reviewing strategy position and direction of the company.

The internal factors are inclusive of the marketing mix of the organization and the organizational goals. The product itself is a huge

It is important for businesses to respond to the internal influences in achieving business goals

Using BIM Tools The goal of integrating BIM tools into your business process is to improve efficiency, constructability and predictability on your projects. This can be done with a combination of BIM tools that enable collaborating, coordinating and communicating during all phases of development, from design, through preconstruction, construction and operation. The entire project team, including designers, contractors, subcontractors, project management and building management can communicate openly.

The company's mission statement, organizational culture and style of leadership are factors that are typically associated with the internal environment of an organization. The external environment are those factors that occur outside of the company that cause change in organizations and are, for the most part, beyond the control of the company. Customers, competition, the economy, technology, political and social conditions and resources are common external factors that influence the organization.

These are external factors which are analyzed in relation to business operations and organization and its responses in terms of actions and reactions to these factors.

internal factors influencing that decision which should be taken in account in order to have the correct analysis of the environment surrounding the business and process. This chapter explains about the external as well as internal factors which are viewed as the drivers for the restructuring.

Internal environment includes factors that can be controlled by the company such as management, production, finance, accounting, supply of materials, marketing, public relations (PR), human resources, information systems, etc. Analyzing these factors helps businesses identify strengths, weaknesses, then finding out the appropriate strategy. Marketing strategies, marketing systems, marketing organization, marketing function and marketing productivity are included in the internal audit.