Effectiveness of Business Intelligence Tools for Supporting Decision-Making

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Introduction Individuals and organizations within current information society have at their disposal vast amount of data which potential has not fully been used. With the increasing availability of data there is a need to organize data and to extract knowledge from such data. Data are being accumulated in different formats and databases, which are usually not connected together, therefore leading to the inefficient use of valuable information. Contemporary organisations are therefore seeking the opportunities to improve decision-making. With different people participating in decision-making, the scope of particular decisions is in many cases of global nature (Olszak & Ziemba, 2006). Thus there is a great need for tools that are able to analyse the increased availability of data and improve coordination in the information exchange. Business Intelligence is the name given to the toolset that handles a mass of operational data and extract business information capable of supporting the strategic and tactical decision-making processes to enable the achievement and maintenance of competitive advantage for the organization. The purpose of the report is to investigate the effectiveness of Business Intelligence tools for supporting decision-making. This will be done firstly by defining the business intelligence and its tools . The second chapter will analyze business intelligence and its role in decision-making process. The third chapter will look at the role of data mining – BI tool, for decision-making. The fourth chapter will analyze the effectiveness of data mining by using the case study. In particular, it will look at the effectiveness of data mining for decision-making in retail industry. 1. Business Intelligence ... ... middle of paper ... ...mation, Knowledge, and Management. Vol.10, at http://ijikm.org/Volume1/IJIKMv1p047-058Olszak19.pdf Petrini M., Pozzebon M., “Managing sustainability with the support of business intelligence: Integrating socio-environmental indicators and organisational context” Journal of Strategic Information Systems 18 (2009) 178 191 2009, at: http://portal.acm.org/citation.cfm?id=1664085 Ritacco M., Carver A., (2004)The Business Value of Business Intelligence: A Framework for Measuring the Benefits of Business Intelligence, Business Objects Stake, E. R. (1995) The Art of Case Study Research. SAGE Publications: Thousand Oaks. Tapscott D., (2008) Business Intelligence for Consumer Packaged Goods: Actionable Insights for Business Decision Makers, New Paradigm Learning Corporation Yin, K. R. (1994) Case Study Research: Design and Methods. 2nd edition. SAGE: Thousand Oaks.

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