How Effective are Sanctions in Enforcing Compliance and when do they Backfire?
How do Sanctions Work? Often, we read about the United Nations or the United States imposing sanctions on nations and businesses in order to force compliance with their agendas as well as to make the recalcitrant entities be more responsible. Indeed, while the UN sanctions are usually aimed at enforcing compliance with global norms of […]
How the Sharing Economy is Different
Companies like Uber and Airbnb have a lot in common. They are both startups that were started with relatively fewer resources. Both these companies started around the same time. Uber started in 2008 whereas Airbnb started in 2009. Today, both these corporations are worth billions of dollars. However, the similarities do not end there. The […]
Different Types of Online Business Models
Almost all startups being funded nowadays have an online business model. This is the reason why they appear to be similar to each other. However, this observation is a flaw in the thinking of the untrained observer. Not all online business models are similar to one another. There are many varied forms of models that […]
How Automation Benefits the Logistics Sector through Efficiencies and Synergies
How Automation Benefits the Logistics Sector through Efficiencies and Synergies Automation benefits the logistics sector in many ways. Right from order booking and package handling in warehouses, including transit and shipment that is enabled by automated modes, and tracking and delivering the materials, automation can increase the efficiencies and synergies of the entire supply chain. […]
Trust is the Key to Building Successful Companies and Great Nations
The Importance of Trust in Building Successful Companies and Great Nations Recently the former Prime Minister of India, Dr. Manmohan Singh, made an impassioned plea for building trust among the economic agents and between the citizenry as that would have a salutary effect on the country’s economy. In a hard hitting article, Dr. Singh, decried […]
The current business environment is constantly evolving. The global economic scenario is providing opportunities as well as challenges. The factors affecting business environment are consumer needs, globalization, and government policies, etc.
In such a business environment, organization basically has four action steps. The organization can be reactive, anticipative, adaptive, or/and proactive. For this, organization can develop a new strategy, get into partnership, etc.
Today most of the businesses are having a computerized business support. This support is in form of decision support system, business analysis, etc.
The main objective of business intelligence is to bridge the gap between organization current status and its desired position. Business intelligence helps organization achieve commercial success along with sound financial management.
Business intelligence is framework designed to support decision-making process. This framework combines architecture, database, analytical tools and applications. Business analytics forms an integral part of business intelligence.
More and more businesses are moving towards business intelligence. The reason for this movement is the business environment. Organizations are forced to capture, store and interpret data. This data is at the core of business success. Organizations require correct information for any decision-making process.
Business intelligence combines data warehousing, business analytics, performance, strategy and user interface. Business receives data from various sources. This data is capture in the data warehouse where it is stored, organized and summarized as per further utilization. Authorized users can access this data and work on it to get desired results. This result than are shared to executives for decision-making process. These data results can be published through dashboards or share points.
The main components of business intelligence are data warehouse, business analytics and business performance management and user interface.
Data warehouse holds data obtained from internal sources as well as external sources. The internal sources include various operational systems.
Business analytics creates a report as and when required through queries and rules. Data mining is also another important aspect of business analytics.
Business performance management is a linkage of data with business objectives for efficient tracking. This business performance is then broadcasted to an executive decision-making body through dashboards and share-point.
The benefits of Business intelligence are as follows:
Business intelligence usage can be optimized by identifying key projects on which company would like to focus. This process of highlighting key projects is called business intelligence governance.
The importance of business intelligence is growing, and its usage has proliferated across various types of users. Earlier, it was in the domain of IT staff, but now business team is also independently handling business intelligence.
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Communication Systems and Groupware – Information System Concepts that Apply in All Functional Areas of Business
February 12, 2025
