The Process Of A Business Intelligence System

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This project is written to explain the processes involved in implementing a business intelligence system. It continues to describe the technologies involved in a business intelligence system, as well as the purpose of the system and how it can help companies become a leader in the industry. Lastly, the report contains facts about industries that have implemented a business intelligence solution, how they use it, and the benefits they reap from the implementation. The report covers multiple industries, but focuses on Chevron oil company and analyzes its business intelligence solution. Overview Business Intelligence refers to the variety of systems used by a company to analyze their raw data. The data is stored in data warehouses, in which…show more content…
A productive business intelligence system is one that is able to gather, provide access to, and analyze data for the purpose of allowing businesses make better decisions (“What is business intelligence”, n.d.). This means that analysts are able to gather the information, store it in such a way that it is easily accessible, and analyze the data so that companies are able to make quicker and more intelligent decisions. 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
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