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BUSINESS INTELLIGENCE

Article · February 2021

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DIYA DINESH
20BME0177
SCHOOL OF MECHANICAL ENGINEERING
VIT, VELLORE

Introduction
Foley, É., & Guillemette, (2010). Business Intelligence is the technology’s applications and
practices for the collection, integration, analysis, the presentation of business information.
Business Intelligence is a support to better decision making. Specific skills like data analysis,
problem solving, communication skills, business acumen is needed for Business Intelligence.
Nowadays it is widely used in world of practice and business. Business intelligence software
is a type of application software designed to retrieve, analyze, transform and report data for
business intelligence. Business intelligence uses a large database, typically stored in a data
warehouse or data mart, as its source of information. Since the technologies have grown so
much in the past years each and everything in the world is improving. So, the customers expect
more and better things from companies. BI is such a great technology which goes on with the
trend and provides better services by showing present and historical data within their business
context.

Chen, H., Chiang, R. H., & Storey, V. C. (2012) Business intelligence can help companies
make better decisions by showing present and historical data within their business context.
Analysts can leverage BI to provide performance and competitor benchmarks to make the
organization run smoother and more efficiently. An effective Business Intelligence system
serves as a means to identify key organizational patterns and trends. Business Intelligence helps
in Business intelligence helps extract crucial facts from a vast amount of unstructured data and
transform them into actionable information that enables companies to make informed strategic
decisions, improving operational efficiency and business productivity. Some of the benefits of
using Business Intelligence are Faster analysis, increased organizational efficiency, Data-
driven business decisions, Improved customer experience, Improved employee satisfaction,
Trusted and governed data, track performance, optimize operations, Predict success etc.
YouTube (what is business intelligence BI) business intelligence is simply the delivery of
relevant and reliable information to the right people. And helps to take better decisions faster.
BI The methods and programs to collect structure data and convert it into information to
improve business decisions.BI include performance management, analytics, predictive
modelling, data and text mining and many more.it is a mode of any time access to organized
data which includes the discovery of inefficient business process and hidden patterns, identify
areas of strength and weakness, discover more opportunities and many more. The term BI
refers to the group of tools and techniques that collects and organizes data.

Literary survey
What is Business Intelligence

Negash, S & Gray, P. (2008), Business Intelligence is basically human intelligence applied to
affairs and activities. It is the use of artificial intelligence in Business system. It helps the
enterprise users to make better business decisions by providing access and analyzing data. The
components of business intelligence are online analytical processing; advanced analysis co-
operate performance management and real time Business intelligence. Business Intelligence
helps businesses and organizations ask and answer questions of their data. It can help
companies make better decisions by showing present and historical data within their business
context. It is very much useful for managing today’s global business, the same is used to collect
details through Information technology to deliver actionable information for decision makers.
business intelligence both structured and semi structured data is used. Structured data is easily
organizable, unstructured is complex and often qualitative information. the business
intelligence plays a major role in decision making and proportion of semi structure data used
in daily decisions. There are 3 steps in structured and semi structured data that is acquisition
then integration then cleanup, data from both structured semi structured areas search then to
analysis and then to delivery finally the action can be mould up according to BI data.

Turban, E., Sharda, R., & Delen, D. (2010) Business intelligence is for the monitoring of
business systems by means of accurate presentation and analysis of data. Business intelligence
is now widely used.it is emerging as a key to enable for the increase of value and performances.
It has two primary activities such as getting data in and getting data out. business intelligence
helps in reducing the IT infrastructure costs and also saves time for data supplies. The benefits
of using Business intelligence are cost saving from data mart consolidation, time saving for
data supplies, time saving. more and better information, better decision making, better data
quality, competitive analysis etc. the entire purpose of Business Intelligence is to support and
felicitate better business decisions. Business intelligence software are the tools that make it
possible to create value from big data. Some examples of business intelligence include data
warehouse, dashboard, data discovering tool and cloud data services. Cloud computing has
become one of the revolutionary technologies over recent years. Business intelligence
combines business analytics data visualization with analytical tools to present complex and
competitive information to planners and decision makers. It is used for multiple purposes
including measuring performance progress towards business goals, performing quantitative
analysis in reporting and data sharing.

Benefits of Business Intelligence

Hočevar, B., & Jaklič, J. (2010) Business intelligence is very effective in the modern world.
the benefits of using business intelligence is very huge. There are many benefits for business
intelligence like fast and accurate reporting, valuable business insights, competitive analysis,
better data quality, increased customer satisfaction, increased operational efficiency etc. The
main function of business intelligence is to provide a support for decision making in business.
the main categories of business intelligence benefits such as increase in revenue, increase in
profit, improved customer satisfaction, reduction of costs, increased market share, improved
satisfaction and motivation of users, faster decision-making can be successfully linked to the
defined long -term business strategy. With the help of business intelligence, a company can
make better decision making. Discover money-laundering criminal. It has also various benefits
or the use of BI can be by the means of Analysing potential growth customer profitability and
reduce risk exposure through more accurate financial credit scoring of their customers,
Determine what combinations of products and service lines customers are likely to purchase
and when. Analyse clinical trials for experimental drugs. Set more profitable rates for insurance
premiums. Reduce equipment downtime by applying predictive maintenance etc.

Dobrev, K., & Hart, M. (2015). The purpose of business intelligence systems is to let managers
get continuous, current information about their business and use this information to make better
decisions and move rapidly in response to changes. The learning and discovery increase from
the new functions available. there has been an increase in adaptive, automated decisions in the
operational systems. The main goals for the use of business intelligence was to improve the
company’s business success and competitive advantages. the benefits of using OLAP
technologies was that business intelligence is time saving a it is simpler to use and because of
the data warehouse of historical data. It is time saving, since it is computerizing and online
everything was less time consuming. Improved decision support as it enables the graphic
visualization of data. Improved communications for faster and better exchange of reports, the
greater flexibility preparing reports and to go data. The benefits of BI in a company’s vision
and strategy can be by increasing turnover, by increasing profit, improves customer
satisfaction, decreases cost, increases market share etc.

The future of Business Intelligence

Yeoh, W., & Koronios, A. (2010). Business Intelligence is a quicker and efficient service so
it can be very helpful in many aspects of business as the technology have improved so much.
It helps to speed up the services and thus, provide a better analysis. The growth of business
intelligence is going to be rapid and it will be useful or will gear towards the large number of
users and will be connected to greater systems. As the expectation of the consumers increases
companies also increases their efficiency. It is also a wide area of research. BI provides many
benefits to companies utilizing it. It eliminates lot of the guesswork within an organization,
enhance communication among departments or sections in the companies while coordinating
activities, and it enables companies to respond quickly to changes in financial conditions,
customer preferences, and supply chain operations. It provides more analytical insights.BI
improves the overall performance of the company using it. The companies will have to make
use of business intelligence for better performance and decision making of the company and
better image of goals and objectives.

Summary

Sangar, A. B., & Iahad, N. B. A. (2013). Business intelligence is collecting data from the field
and making analysis and planning strategies to boost their business and market. Information’s
are collected through data warehouse data mining visualization knowledge management etc.
the analysis and there by decisions are taken from structured and unstructured data. One
important part of business intelligence is competitive intelligence that is to know about other
market leader’s business to plan your business it’s a very important decision-making tool as
far as business is concerned. Busines intelligence is an intangible knowledge which can be used
for decision making throughout the whole business activities. The main phases or steps of a
business intelligence process are: Defining intelligence needs→ gathering of information →
processing the information →the analysis → propagate → utilization and feedback. There are
many benefits of using business intelligence such as fast and accurate reporting valuable
 busines insights, competitive analysis better data quality, increased customer satisfaction,
identifying market trends, increased operational efficiency etc. Business Intelligence have a
great future as it helps us to improve in performance of the companies. But there are also a few
problems or issues faced in this field some views Business intelligence as only a supplementary
system. The most competitive system but only the most competitive enterprises will achieve
sustained market success.

References

1) Foley, É., & Guillemette, M. G. (2010). What is business intelligence? International Journal
of Business Intelligence Research (IJBIR), 1(4), 1-28.

2) Chen, H., Chiang, R. H., & Storey, V. C. (2012). Business intelligence and analytics: From
big data to big impact. MIS quarterly, 1165-1188.

3) Youtube(what is business intelligence BI)-Hitachi solutions Canada

4) Negash, S., & Gray, P. (2008). Business intelligence. In Handbook on decision support
systems 2 (pp. 175-193). Springer, Berlin, Heidelberg.

5) Turban, E., Sharda, R., & Delen, D. (2010). Decision support and business intelligence
systems (required). Google Scholar.

6) Hočevar, B., & Jaklič, J. (2010). Assessing benefits of business intelligence systems–a case
study. Management: journal of contemporary management issues, 15(1), 87-119

7) Yeoh, W., & Koronios, A. (2010). Critical success factors for business intelligence systems.
Journal of computer information systems, 50(3), 23-32.

8)Dobrev, K., & Hart, M. (2015). Benefits, justification and implementation planning of real-
time business intelligence systems. Electronic Journal of Information Systems Evaluation,
18(2), 104.

9) Larson, D., & Chang, V. (2016). A review and future direction of agile, business intelligence,
analytics and data science. International Journal of Information Management, 36(5), 700-710 .

10)Sangar, A. B., & Iahad, N. B. A. (2013). Critical factors that affect the success of business
intelligence systems (BIS) implementation in an organization. intelligence, 12(2), 14-16.

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