This project is written to explain the processes involved in implementing a business intelligence system. It continues to describe the technologies involved in a business intelligence system, as well as the purpose of the system and how it can help companies become a leader in the industry. Lastly, the report contains facts about industries that have implemented a business intelligence solution, how they use it, and the benefits they reap from the implementation. The report covers multiple industries, but focuses on Chevron oil company and analyzes its business intelligence solution.
Overview
Business Intelligence refers to the variety of systems used by a company to analyze their raw data. The data is stored in data warehouses, in which
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A productive business intelligence system is one that is able to gather, provide access to, and analyze data for the purpose of allowing businesses make better decisions (“What is business intelligence”, n.d.). This means that analysts are able to gather the information, store it in such a way that it is easily accessible, and analyze the data so that companies are able to make quicker and more intelligent decisions. Some of the main purposes of business intelligence are to use in comparison to competitors, reveal changes in customer behavior and spending patterns, and determine the market conditions and future trends in the industry (“What is business intelligence”, n.d.). Business intelligence allows businesses to see how their sales, products, and services compare to that of their competitors. In doing so, the company is able to determine what needs to be changed, as well as how to improve upon existing competencies. Another benefit to implementing a business intelligence system is that companies are able to see the trends in customer spending patterns. Over time, a company might see sales dwindling in a certain product because it has been overshadowed by a new release. For example, with the release of the PlayStation 4, retailers have noticed a decline in sales of the PlayStation 3. This means that retailers must carry lower stock, or none at all, of the
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
Wikipedia, http://en.wikipedia.org/wiki/Business_intelligence, defines business intelligence as “computer based techniques used in spotting, digging out and analyzing business data.” SQL Server’s Business Intelligence tools include the Reporting Services, Analysis Services, and Integration Services among others. A complete overview can be found at
The theme of this book is how businesses in today’s world use ever-improving technology to collect data, convert it into information and business intelligence, and combine this information and intelligence with the knowledge of the workers to help make the best decisions they possibly can for the benefit of the company and the customers. Throughout the book, there are discussions on the different ways that technology can help a business with this process. When going into detail about the various information systems, this book also brings into
Business Intelligence: Business intelligence is a program that coordinates the best combinations of data in sales to achieve maximum profits.
Business intelligence (BI) merges architectures, tools, databases, analytical tools, applications, and methodologies. It also is context free like DSS. BI deduces the connections between business entities by evaluating copious volumes of historical data which supports decisions. BI has four major components consisting of a data warehouse, business analytics, business performance management, and a user interface.
In detail, a strong resistance will come from some of the operating companies that already have “their own small-scale business intelligence applications in place”. These companies may not see any valid reason or advantage to switch and implement a new software system. Furthermore, another obstacle that SYSCO might confront will be the objection from the existing managers and IT experts averse and incapable of using a new software with different functions. Moreover, the forthcoming implementation time of the BI software proposed by the Assistant Vice President of Technology and Applications Twila Day might raise doubts and concerns among management as well as
Business Intelligence (BI) is the consolidation and analysis of internal data and / or external data for the purpose of effective decision-making. At the core of all BI initiatives is a data warehouse to hold the data and analytics software. The data warehouse stores data from operational systems in the organization and restructures it to enable queries and models to extract decision support reports.
2. Business intelligence: Delivers synchronized, business-critical data in a variety of diagnostic tools to view market trends and build relationships that help facilitate timely decision making (Microsoft Dynamics NAV, 2011).
First off, why do we need a business intelligence system for our business? Simply put, an effective
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.
Twila Day left the meeting excited, but also a little nervous. Her Technology and Applications Group had just been given approval by the Director’s Council of SYSCO to proceed with a company- wide deployment of business intelligence (BI) software. The effort was intended to help SYSCO, the largest food distributor in North America, make better use of the information generated by its operations and serve its customers better. The Director’s Council, a group of senior managers with substantial power and influence, had been impressed enough by the results of a
Companies are adopting business intelligence system within their organizations because by using the system reports they can gain the advantages of understanding their internal strength and weaknesses to face external competitors and challenges to increase profits and reduce cost on their everyday operations and processes.
Walmart is the biggest retailer in the world and handles more than one million customer transactions every hour and generates more than 2.5 petabytes of data storage (Venkatraman & Brooks, 2012). To put this into perspective, this data is equivalent to 167 times the number of books in America’s Library of Congress (Venkatraman & Brooks, 2012). So how can Wal-Mart use this massive amount of data and what useful information can this data provide? This paper will provide a brief overview of the importance of Business Intelligence (BI) and how the largest retailer in world, Walmart, is using it.
Business Intelligence applications provide business information to drive decision support for achieve desired goals of the organizations and to evaluate benefits with the Business intelligence applications. Business Intelligence (BI) is a Data-driven DSS that joins data gathering, information storage, and learning administration with investigation to give data to the decision-making process. In some Computer based situations, Information of Business Intelligence utilize wellspring data and provides required sophisticated analysed information as put away in data mart or data warehouse. Most of the organizations still have lack of BI in their decision-making while implementing enterprise system. For improving the decision support
R.L Fielding (2008) reiterates that Business Intelligence is a thorough and holistic analysis of the company records, data, information, and software application for effective decision making. All decision making processes need an organized, readily-accessible, and human readable compilations of data. With the use of an effective tool the firm can easily figure out their own business processes, the behavior of their customers, and the economic trend of the industry. With these facts, the firm can arrive at a better strategy to achieve their specified goals with confidence.