Similarities and Differences in Implementation of Quality Frameworks in Manufacturing and Service Sector
Introduction A production defect in a company like GE (General Electric) might result in that specific product or the part being removed from the assembly line and not sent out as finished product. However, in the service sector, a process error might prove to be costly as in the case of the JPMC or Citigroup […]
Information Technology and Business Intelligence
Introduction After 1990s there was a major transformation in the commercial world. All the organizations across industry sectors have started using information technologies to maximize their productivity and profitability. Organizations started using technologies like mainframes, PCs, telecommunications and the internet along with the goods and services which they offered to the consumers. This process has […]
The Kansas Experiment
In the year 2017, President Trump has promised the United States that he will provide unprecedented tax cuts to the people of the United States. He believes that such a tax system would stimulate economic growth and once again propel America to the pinnacle of economic success. However, he is not the only one to […]
Closing a Six Sigma Project
As we have seen, Six Sigma is an elaborate methodology. It requires time to learn and even more time to successfully implement. However, as we have also seen that there is a golden pot at the end of the rainbow. Countless organizations have transformed their operations based on their Six Sigma capabilities. Nowadays, having processes […]
The Why and How of Cities Worldwide Competing in a Race to Attract Investments
The Global Race Between Cities for Investments Cities worldwide are in a global race for investments and this is being driven by economic, political, demographic, and social reasons. Considering the fact that the future of the world would be urban and cities would be the engines of the global economy, it is not surprising that […]
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
