Benefits and Applications of Business Intelligence in Retail, Sports and Financial Institutions

Running Head: Business Intelligence 0
Business Intelligence
8/8/2018

Business Intelligence 1
Executive Summary
Business Intelligence is a technologies, architectures and processes that provide meaningful
information for achieving profitability in the organization. It has a direct impact on the
organizational operational, strategic and tactical business decisions. In this report, the discussion
will be carried upon the strategic and operational benefits of the Business Intelligence and its
applications on the retail sector, sport business and the financial institutions. Business
Intelligence helps the organizations in creating reports, maps, dashboards, graphs, charts and
maps. Business intelligence System identifies the market trends and addresses the business
problems. This software results in fast and effective decision making in the organization and
helps the organizations in improving their productivity, accountability and visibility.

Business Intelligence 2
Table of Contents
Executive Summary.....................................................................................................................................1
Introduction.................................................................................................................................................3
Benefits of Business Intelligence.................................................................................................................3
Application of Business Intelligence...........................................................................................................5
Conclusion...................................................................................................................................................7
References...................................................................................................................................................8

Business Intelligence 3
Introduction
Business Intelligence is termed as practices, technologies and applications for the analysis,
collection, presentation and integration of the information related to business. The aim of the
Business Intelligence process is to help the business in efficient decision-making. Sometimes this
process is used for report, query tools and briefing books. These systems help in providing
historical, predictive and current views on the business operations. The Software elements of
Business Intelligence supports visualization, reporting and interactive analysis. The Business
Intelligence includes a variety of application and tools that enables an organization to receive
data from external sources and the internal system. The important advantage of the tools of
Business intelligence are accelerating, improved decision-making, increase in the efficiency of
operations, achieving new revenues and attaining the competitive advantage over the rivals of
organizations. The companies can identify business problems and market trends with the help of
business Intelligence systems. Business Intelligence systems support the tactical and strategic
decision in business. These systems include technology of data visualization for info graphics,
designing charts and the tools for creating performance scorecards and Business Intelligence
dashboards (OLAP 2018).
Benefits of Business Intelligence
The advantages of business Intelligence in the organization are:
Strategic benefits
 Reporting: Business Intelligence system analyses and collects data in the organization.
This systems helps the professionals in the organization in generating reports on the
variety of expenses, staffing, data sets, customer service and operations processes.
Business intelligence includes relevant data, as the reports containing relevant data is
easier to understand (Guru99 2018).
 Benchmarking: This is used by the Business organizations in increasing the productivity,
success and revenues as compared to their competitors. This system simplifies the data by
providing reports and information that are easy to understand. It provides timely and
accurate data that provides valued information about the company’s current state
(Dataconomy 2017).
 Sales Intelligence: The reports produced by these systems are efficient in the backup of
claims, when dealing with the important clients and making sales decision quickly with
accurate data and business intelligence reports. This tool is most efficient for the business
in convincing clients, suppliers and the vendors of the capability of the organizations
services (BI-SURVEY 2018).