Technology And Business Intelligence Essay

1041 words - 4 pages

In this technological era, everything has been computerized. Agility and mobility of business has been increasing rapidly over the years. As modern business grows, Business Intelligence (BI) has become an important part in supporting decision-making process in an organization. However, it is not an easy task to implement a BI successfully. It takes time and effort for an organization to be able to come up with a good BI strategy which will be the critical factor for a successful BI implementation. In Howson’s article, she states that it is a good thing if a corporate BI strategy is determined by gathering input from a wide range of corporate stakeholders (Howson, 2010). In fact, positive involvement from stakeholders is one of the critical factor which contributes to the success of corporate BI strategy. An analysis on the various factors that determine the success of BI strategy will explain why stakeholders’ involvement is one of the critical factor in implementing BI and what happens if stakeholders’ involvement is constantly being ignored.
What is Business Intelligence (BI)? Business Intelligence is actually the tools and systems that play a key role in the strategic planning process of the corporation. A successful implementation of BI can have a direct positive impact on business performance of an enterprise, dramatically improving the ability to accomplish the mission by making smarter decisions at every level of the business from corporate strategy to operational processes. (Pant, 2009)
What is BI strategy? BI strategy is a roadmap that enables businesses to measure their performance and seek out competitive advantages and truly 'listen to their customers' using data mining and statistics (Poladi, 2013). A good implementation of BI strategy helps in gaining competitive edge in the market and provide a long-term stability for an organization. The challenge here is to maximize the effectiveness of a BI by the choosing the right combination people, processes and technologies. To overcome the challenge, an enterprise has to build an effective BI strategy which associates with the enterprise business objectives, enables stakeholders with better decision making capabilities, improves business by making full use of the data and drives the enterprise towards its desired goal. (Pant, 2009)
The success or failure of a business is dependent on the combined effort of the owners, shareholders, CEO, senior management, administrators, sales, marketing, frontline operators, auxiliary support personnel, partners, suppliers and eventually the end customers. According to Jones, stakeholders is people, groups or other organizations who have an interest, claim, or stake in an organization, in what it does, and in how well it performs. (Jones, 2010)
As the modern business environment grows, the market is increasingly competitive. A tiny wrong decision will lead to big loss in a company. Therefore, the accuracy and precision in decision making is the critical...

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