Business Intelligence Software As we discuss the possibility of emerging into business intelligence software we must keep in mind the overall purpose of using any type of software is to reach strategic goals in order to increase market shares. I will discuss how business intelligence software will allow us to meet those strategic goals. We will establish what type of information and analysis capabilities will be available once this business intelligence software is implemented. We will discuss hardware and system software that will be required to run specific business intelligence software. Lastly, I will give a brief synopsis on three vendors (IBM, Microsoft Microsoft and Oracle) that are dominating the business information software industry today. The goal to any company succeeding in today?s fast paced high tech world is to establish aggressive strategic goals and a means to meet those goals. The end state of strategic goals is the capturing of your industry market share. Business intelligence software is a means or method to meet the goals. Business Intelligence Software brings together established software into a single working suite that will allow personnel from across the corporation to observe the same information in real time on a day-to-day basis. By implementing business intelligence software into our company, it will allow for a consolidated data collection point. This software will also allow us to tap into this consolidated data using multiple methods and display it in various forms or in real time using different web applications. The information that can be extracted from the business information software is endless. In the article written by Alison Dragoon, Business Intelligence Get Smart(er), she states the following about data usage; ? ?[Unused data] is still a great source of untapped productivity and competitive advantage for most companies," he says. Just how much data is going unused? Downes guesses companies are extracting value from only about 20 percent of their data.? With this stated by placing all pertinent information into one database allows personnel throughout the company to pull data that will assist in their daily duties. This data can be arranged to track the life cycle of any product from birth to grave. By tracking an item in this fashion allows us to alleviate faulty products in this process or to allevia... ... middle of paper ... ... analysis with Extract, Transform, and Load (ETL), online analytical processing (OLAP) and data mining capabilities built into the data server. Additionally, we can add Oracles E-Business Suite Corporate Performance Management system that includes pre-packaged applications for measuring and monitoring business performance. Oracle brings to the table exactly what we are looking for, a proven business information tool that is capable of delivering the information that is required to give us time and accurate information. Bibliography Cindi Howson, The Best BI Tool [WWW document] URL http://www.intelligententerprise.com/showArticle.jhtml?articleID=21400422 Alice Dragoon, Business Intelligence Gets Smart(er) [WWW document] URL http://www.cio.com/archive/091503/smart.html Unknown, Business Intelligence and Data Warehousing in SQL Server 2005 [WWW document] URL http://www.microsoft.com/technet/prodtechnol/sql/2005/evaluate/dwsqlsy.mspx Unknown, Introducing SQL Server 2005 [WWW document] URL http://www.microsoft.com/sql/2005/default.asp Unknown, IBM, [WWW document] URL http://www.ibm.com/us/ Unknown, Oracle, [WWW document] URL http://www.oracle.com/index.html
Turban, E., Sharda, R., & Delen, D. Decision Support and Business Intelligence Systems (9th ed.). Upper Saddle River, NJ, USA: Prentice Hall
Business intelligence (BI) is the process of gathering enough of the right information in the right manner at the right time, and delivering the right results to the right people for decision-making purposes so that it can continue to yield real business benefits, or have a positive impact on business strategy, tactics, and operations in the enterprises. Business intelligence is a well-established and generally well-known software category that spans a wide range of functional capabilities. Business Intelligence systems are one step above knowledge management systems. Although sspecific definitions will vary from customer to customer and vendor to vendor, but most will agree that business intelligence typically refers to the challenge of providing business users with meaningful information from company data sources to help those users make better, more informed business decisions. BI applications include activities of online analytical processing (OLAP), decision support systems (DSS), data warehousing and data mining. Business Intelligence includes the following functions:
Information system is a key to success in today’s world. In this report we have tried to demonstrate the knowledge about our topic, our objective was to assess the strengths and weakness of the previous work. Transforming record keeping into business intelligence will give the firm a competitive advantage over its competitors, it will improve business performance and easy data handling will be possible.
Well today many businesses are turning to "Enterprise-wide Analytic Technology" to help streamline the processes and steps that an organization goes through when conducting business. Enterprise analytics is quite simply put a way for enterprise sized companies to capture business-critical information and make it visible across the entire organization. Informatica (2001)
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.
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.
However, a DSS tool is Online Analytical Processing (OLAP) –Decision support system is an interactive computerized system which gathers and presents for business purposes from various sources (webopedia.com, 2014). OLAP is a tool that enables the user to analyze different data dimensions. It provides time series as well as trend analysis views. OLAP tools are used by analysts where they employ relatively simple techniques which include induction, deduction as well as pattern recognition to so as to derive new information as well as insights. OLAP is also used in data mining using OLAP server which sits between a database management systems and a client. For example, Infosys – an information technology consultancy, recommended one of the clients to use OLAP solutions as a supply chain analytic solution which contributed 30% of its gross revenue.
Ultimately, Business intelligence has the ability to simplify how managers access and analyse data which makes understanding, collaborating, and acting on information at any point much simpler for decision makers. (Microsoft, 2014)
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].
The potential user group for BI goes beyond the power users in the IT world to include deans and directors, mid and senior-level managers, key administrators, analysts, staff supervisors... Basically anyone involved with strategic direction and tactical decision-making will benefit from Business Intelligence
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.
Prior to the start of the Information Age in the late 20th century, businesses had to collect data from non-automated sources. Businesses then lacked the computing resources necessary to properly analyze the data, and as a result, companies often made business d...
Executive Information Systems (EIS) are announcing tools (software) that allow turning the organization’s data into useful summarized reports and uniting the features of management information systems and decision support system. These reports are usually used by executive top managers for quick access to the strategic information coming from company levels and departments such as billing, cost accounting, scheduling, and more. The main goal of EIS is that top executives should be provided with straightforward and simply access to info...
Businesses are driven to be more competitive in their market place and try and do this through collecting and analysing data. Business intelligence systems process historical as well as real-time data to generate information (Bara et al 2009). This allows them to make better decisions and predict market trends (Simmers 2004). A business intelligence system that has been well designed allows the ability to analyse information for achieving...
Curtis G. & D. Cobham (2002: 4th edition) Business Information Systems: Analysis, Design and Practice. Essex: Pearson Education Limited