Class report (Business Intelligence) Business Intelligence solutions harness data warehousing and OLAP technologies to unleash opportunities to improve customer service, control costs, maximize profits, and make better decisions faster. These solutions enable organizations to aggregate data from multiple sources, build and manage an enterprise data warehouse, and make sophisticated yet straightforward analysis tools available to all employees. Many companies generate and store large amounts of information on a daily basis, including customer, sales transaction, and financial data. Often, however, the knowledge available in this data is trapped in inaccessible or non-integrated “data islands.” The key to powerful Business Intelligence solutions is to identify the right sets of data and transform them into knowledge about what is happening in your organization right now. By gaining this insight, your organization could achieve substantial advantage over competitors. Although the concept of Business Intelligence (BI) has been around for some time, Microsoft has recently put it in the forefront of their strategy. Their BI solutions, consisting of a loose configuration of products, are being marketed as a necessity to improve a business's bottom line. This paper seeks to examine what exactly BI is and how the Microsoft Tools support this concept. An article on the Microsoft site defines business intelligence as "the process of extracting data from a database and then analyzing that data for information that you can use to make informed business decisions and take action." However, this definition does not explicitly address the big picture goal of BI: to help businesses improve the bottom line. Although analyzing data collected in vas...
... middle of paper ...
...any truly defines the very meaning of the word B.I, I mean they really are focused on the business they are doing. The company policies and strategic planning ally let you the meaning of the topic. Further more I would say that B.I is something that is to be shown by a company at all point and turnover. They have shown major and I mean major turnovers in some years. They are really focused on their standpoints and goals. One should always consult for help and other kind of guidance’s for the topic. These Americans really have proven themselves one of the most stable and wealthy in this world. The whole market gets turned upside down if this company declares different rates and prices as they know the demand, cost and supply curves from the market point of view. References HYPERLINK "http://www.solien.com/content/articles/Business_Intelligence_Summary_v1.1.htm"
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.
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.
Harvard Business School case 274-116. Cooper Industries, Inc. Retrieved on August 31, 2008, from University of Phoenix, Resource, FIN/545 web site: https://mycampus.phoenix.edu/secure/resource/resource
What are the three or four most important drivers of Microsoft’s business model over the past 10 to 15 years that have accounted for the company’s spectacular results?
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.
3. Analyze BP using the five forces of competition model to determine the industries current attractiveness in terms of profits potential Danger of Incipient Entrants - The more effortless it is for beginning organizations to enter the business, the more vicious rivalry there will be. Variables that can repress the risk of early contestants are kenned as obstructions to entrance. A few cases include:• Power of Suppliers - This is the amount of weight suppliers can put on a business. In the event that one supplier has a cosmically sufficiently enormous effect to influence an organization 's edges and volumes, then it holds generous puissance.
"More Companies Turn to ABC."Journal of Accountancy, July 1994, p. 14. 11. Ness, J.A. and T.G. Cucuzza. " Tapping the Full Potential of ABC."
Worthington, I. and Britton, C., 2006. The business environment. 1st ed. Harlow: Financial Times Prentice Hall.
...arrell, P. N. & Wood, P. A. (1994). International Market Selection by Business Service Firms: Key Conceptual and Methodological Issues. International Business Review, 3(3), 243-261.
The Boston Consulting Group (BCG) Matrix is used by organisations to analyse whether their performance is either high or low, and indicate their market growth or position on the market, which is similar to the product life cycle, of the introductory, growth, maturity and decline stages. Stars – represent high market growth and high market share, and are leaders in the business world. The organisation would require a substantial amount of money to maintain its high market share; they are also cash users and generators. They are the main units in an organisation and this shows where the company should invest its money, as it is expected that stars become cash cows and they are to generate a positive cash flow. Question Marks – represents low market share and high market growth, at this stage the organisation will invest an enormous amount of cash and also incur losses.
Companies have transformed technology from a supporting tool into a strategic weapon.”(Davenport, 2006) In business research, technology has become an essential means that many organizations use in their daily operations. According to the article, Analytics is a major technological tool used. It is described as “the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions."(Davenport, 2006) Data is compiled to enhance business practices. When samples are taken, they are used to examine research and understand how to solve problems or why situations are as they are. Furthermore, in this article, Thomas Davenport discusses analytics from a business standpoint. He refers to organizations that have been successful in their usage of data and statistical analysis. In addition, he also discusses how data and statistics can be vital in the efforts to improve the operations of businesses.
McHugh, J. M., McHugh, S. M., & Nickels, W. G. (1999). Understanding business. (5th ed.). New York: McGraw-Hill.
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.
18. Rugman, Alan M. and Collinson, Simon. International Business 4th Edition. Essex : Pearson Education Limited, 2006.
The last decade can be marked as a period of significant changes in the business world. Being accustomed to utilize computers as a powerful tool with its office applications such as Microsoft Word and Excel. In the 1990s office workers first faced the opportunity to share information using the Internet (McNurlin, 2009). However, the situation became even more different with the transition to the third millennium. With a further development of information technologies, the majority of big enterprises had to reconstitute their business processes and to make the transition to the Internet economy. Enterprise resource planning (ERP), supply-chain management (SCM), customer relationship management (CRM) software and the variety of other information systems became essential components of the new economy. It can be expected, that all these complex solutions were designed to bring great benefits for different sides of the corporate activity, in particular, decisions made by top-managers are expected to become nearer to the ideal, customer service is to be improved and collaboration more prolific. Nevertheless, to ensure the desired results it should be taken into account that the key concept of these reorganizations is an information or a data, dealing with which can be a serious issue, and wide utilizing of the data warehouses in contemporary organizations confirms this fact.