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Business intelligence system
Business intelligence system
Business intelligence system
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ABSTARCT-This paper depicts the technology with the business intelligence such as “master data management, benchmarking and BPM” etc. Business intelligence (BI) software is a collection of decision support technologies for the enterprise aimed at enabling knowledge workers such as executives, managers, and analysts to make better and faster decisions. The past two decades have seen explosive growth, both in the number of products and services offered and in the adoption of these technologies by industry. Enterprises today collect data at a finer granularity, which is therefore of much larger volume. Businesses are leveraging their data asset aggressively by deploying and experimenting with more sophisticated data analysis techniques to drive business decisions and deliver new functionality such as personalized offers and services to customers. Today, it is difficult to find a successful enterprise that has not leveraged BI technology for its business. Keywords- sixth sense, applications of sixth sense with BI, tools of BPM and data cleansing. INTRODUCTION: Business intelligence (BI) is a set of methodologies, technologies that transforms raw data into a meaningful and useful information for business purpose. BI can handle enormous amounts of unstructured data to help identify and sometimes classifying the data type for creating new opportunity for business people. BI also makes interpreting the data in a S.V. Shabarikanth, I MBA “B”, KCT(Kumaraguru College of Technology) Business School, Coimbatore. E-Mail: shabarikanth@gmail.com. user friendly manner. Some of the BI related to management are Mater data management, benchmarking, business performance management etc. MASTER DATA MANAGEMENT: Master data management (MDM) compri... ... middle of paper ... ...l of Information Science, (26)3, pp. 139. 3) Smith, M. (2002) “Business Process Intelligence – BI and Business Process ManagementTechnologies are Converging to Create Value Beyond the Sum of their Parts”, IntelligentEnterprise, Dec. 5, 2002, pp. 26. [LexisNexis Academic]. 4) Whiting, R. (Jan. 13, 2003) “Look Within—Business-Intelligence Tools have a New Mission:Evaluating All Aspects of a Company’s Business”, InformationWeek, pp. 32. 5) Watson, H. J., and Wixom, B. H. 2007. “The Current State of Business Intelligence,” IEEE Computer (40:9), pp. 96-99. 6) The Next Generation of Business Intelligence: Operational BI White, Colin (May 2005). "The Next Generation of Business Intelligence: Operational BI". Information Management Magazine. Retrieved 2010-02-21. "The biggest growth area in operational BI analysis is in the area of business performance management (BPM)."
In the past number of years data has grown exponentially. This growth in data has created problems that and a race to better monitor, monetize, and organize it. Oracle is in the forefront of helping companies from different industries better handle this growing concern with data. Oracle provides analytical platforms and an architectural platform to provide solutions to companies. Furthermore, Oracle has provided software such as Oracle Business Intelligence Suite and Oracle Exalytics that have been instrumental in organizing and analyzing the phenomenon known as Big Data.
Traditional business intelligence tools are being replaced by data discovery software. The data discovery software has numerous capabilities that are dominating purchase requirements for larger distribution. A challenge remaining is the ability to meet the dual demands of enterprise IT and business users.
The continuous growth of the business analytics software markets signifies an increase in the adoption of business analytics in business organizations. Business analytics has been crucial in optimizing organizations internally as well as maintaining flexibility to overcome unexpected external pressures as businesses shift from operating on intuition to utilizing the growing data volumes. Business analytics is defined as the processes that enable organizations to apply metrics based decision making to all business functions. Among the companies that have been successful with business analytics is Netflix, the American entertainment company. However, other companies, such as Trader Joe’s, although successful, still use the traditional intuition
Turban, E., Sharda, R., & Delen, D. Decision Support and Business Intelligence Systems (9th ed.). Upper Saddle River, NJ, USA: Prentice Hall
Barnard, W., De Feo, J. (2004). Juran Institute’s Six Sigma Breakthrough and Beyond. New York, NY: The McGraw-Hill Companies
Decision making refers to the process of finding and selecting options according to the priorities and values of the person making the decision. Since there are many choices involved, it is important to identify as many options as possible so as to pick the option that best fits a company’s target, goals, values and vision. Due to the integral role of decision making in company growth and financial progress, many firms such as Amazon.com and EBay are pumping in huge investments in business intelligence systems, which are made up of certain technological tools and technological applications that are created for the purpose of facilitating improved decision making process in business. In this paper, I take a critical look at Decision Support Systems and how they affect organizational Decision making.
In today’s society, technology has become more advanced than the human’s mind. Companies want to make sure that their information systems stay up-to-date with the rapidly growing technology. It is very important to senior-level executives and board of directions of companies that their systems can produce the right and best information for their company to result in a greater outcome and new organizational capabilities. Big data and data analytics are one of those important factors that contribute to a successful company and their updated software and information systems.
First of all, business intelligence analysis requires the capturing of information and storing in a single location for effective data analysis. Currently, data analysis is supported by transactional systems, business specific data marts, and other ad-hoc processes. Information is distributed making it difficult and time-consuming to access. Business teams have adapted to this environment by creating user maintained databases and manual “work-arounds” to support new types of reporting and analysis. This has resulted in inconsistent data, redundant data storage, significant resource use for maintenance, and inefficient response to changing business needs.
Sychevskiy, M., & Makad, R. (2013) Perspective future of business intelligence and SAP HANA. [Online] Available from: http://www.infosys.com/industries/aerospace-defense/Documents/future-BI-SAP-HANA.pdf. [Accessed: 8th April 2014].
Companies are able to become analytic competitors through various activities. One of the first steps to becoming a competitor is the widespread use of modeling and optimization. Instead of following basic statistical information, it is wise to look for ways to enhance profitability. To become successful at this, organizations use both internal and external information retrieved from outside sources for a vivid understanding of their consumers. Secondly, an enterprise approach is necessary. Through this approach, employees become proactive at finding out what items or processes are effective. A good example would be of how the article talks about UPS’s approach for assessing problems,” The UPS Customer Intelligence G...
Li, F 2007, What is E-business ?: how the Internet transforms organizations, Blackwell Publishing, Oxford.
Business intelligence, or BI, is an umbrella term that refers to a variety of software applications used to analyze an organization’s raw data. BI as a discipline is made up of several related activities, including data mining, online analytical processing, querying and reporting. Data mining is the process of sorting through large amounts of data and picking out relevant information. It is usually used by business intelligence organizations, and financial analysts, but is increasingly being used in the sciences to extract information from the enormous data sets generated by modern experimental and observational methods.
The BPM discipline has been built with the basis on office automation, work- flow management, operations research, lean manufacturing, six sigma, and business process reengineering [[60][61][56][11]].
Laudon C. & J. Laudon (2003: 5th edition) Essentials of Management Information Systems. London: Prentice Hall International Limited
up with the changes - they happen so fast. A good way to think about