1BUSINESS INTELLIGENCE FUNCTIONALITY Executive Summary Business Process is one of the most important things to consider while managing a business. Business process defines the methodologies and mechanisms needed to make important business decisions. This report will discuss about the different BI features and how they can help to improve the Brentford College by analyzing their datasets and identifying new trends and give them vision.
2BUSINESS INTELLIGENCE FUNCTIONALITY Table of Contents Introduction......................................................................................................................................3 Discussion........................................................................................................................................3 Different systems used in business decision making....................................................................3 Key features of Business Intelligence..........................................................................................4 Information systems available to Brentford College...................................................................5 Conclusion.......................................................................................................................................6 References........................................................................................................................................7
3BUSINESS INTELLIGENCE FUNCTIONALITY Introduction Making business decisions is a very important aspect of managing and growing a company. Business decisions play a critical role in any organization as these decisions can either make or break the organization. In Brentford College, the business decisions is mainly related to administration, human resources and student body. In an organization following the matrix structure, the company is divided into sections and each sections follows its own decision making process. This report states all the above mentioned subjects and explains them in detail. Discussion Different systems used in business decision making In our scenario, the college administration sets a target before the deans of the college to generate revenues via research or more student intake. Deciding the target is up to the administration body. Each department in the college has a separate dean and the deans in turn asks each of the department to conduct new researches or find potential students. The decision to distribution of the funds is decided by the respective deans. Then each department makes their own decisions regarding the allocation of the funds to the students, the types of researches to be conducted and looking up potential students. Thus each level is given a chance to make their own decisions. The business intelligence mechanisms used here can be anything from Decision knowledge center to Enterprise resource planning. These systems could be effectively used by Brentford college to reduce decision making complexity as the flow of the processes would be streamlined using these tools. This will make decision making faster and more accurate. ERP can be used by the whole college organization from the administration to the individual departments. The decision knowledge center or DKC is very useful to the individual departments as they will
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4BUSINESS INTELLIGENCE FUNCTIONALITY be able to analyze the data they collected and derive useful trends and insights from them. The main benefit of the matrix system is that it enables each component of the organization to benefit from the different decision making systems as each department is independent of the other department. This can also lead to increased productivity and innovations due to lack of constraints. The business vision statement is another important tool that should be set by the college administration and should be followed by every staff and student of the college. It is the statement that sets the goal of the college and what it wants to achieve in the future. This helps in planning next decisions accordingly. Figure1Difference between Business vision statement and business mission statement (Source: google images)
5BUSINESS INTELLIGENCE FUNCTIONALITY Key features of Business Intelligence The business intelligence has become useful during making important business decisions. Business Intelligence technologies are about analyzing the current trends in the market and then using the data collected to use in the company’s favor. In our case, the organization taken will be Brentford College. These data can be used to make important strategic and tactical business decisions. Business Intelligence tools are nowadays designed keeping in mind companies of all sizes and budgets. They can help any company get insight of the collected data to grow the business and bring in profits. In fact, many small to medium enterprises are increasingly using business intelligence tools to increase their profits in this age of big data. Business Intelligence can be effectively used by Brentford College to analyze the current trend in the community, estimate where they are lacking and what changes are needed to be implemented and then implement the improved strategies to get the desired results. The key features of business intelligence are: 1. Ranking Reports. Example: The Brentford College can use this feature to highlight their best and worst performing departments. 2. What if analysis. Example: Brentford college can use this feature to predict business results of possible changes it is thinking of implementing. 3. Executive dashboards.Example: This important feature will give the Brentford college management a overview of all its processes and the data it gathered in one frame with the help of graphs and charts.
6BUSINESS INTELLIGENCE FUNCTIONALITY 4. Interactive reports. Example: Brentford College can make use fo this feature to analyze the huge amount of data it gathered to find possible trends and anomalies by statistically analyzing the data. 5. Pivot tables. Example: Pivot tables are massively useful as it can extract information from raw data and arrange them in the form of meaningful charts and graphs. This feature can be used to handle the unstructured data from the pool. Figure2Some other business intelligence features (Source: google images) Information systems available to Brentford College The two information systems that can be used by Brentford college to help them better their business processes are Data Knowledge center and Business Vision statement. The decision knowledge center or DKC helps the organization leaders to make better business decisions by
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7BUSINESS INTELLIGENCE FUNCTIONALITY using a scalable and systematic decision-making process. It achieves that by using focused visualizations, knowledge reuse and result oriented collaboration. It uses strategic decision managing to speed up organizational learning. It uses a process to avoid common decision making mistakes. It helps the in enabling true change management by using a connected decision model. This helps in improving the operational aspect of the organization. Business vision statement is nothing but the idea of what the Brentford College wants to achieve with the huge amount of data they have collected. The people of the organization must also see the business vision as their goal too. Conclusion To conclude, business vision statement details the future goal of the company. The vision needs to be full filled and all the work done should be done keeping the vision in mind as the ultimate goal. The DKC can be used to make the system more informatics and useful. The statement defines the fundamental purpose and aspirations of the Brentford college management and how they can achieve those goals. This can help in improving the tactical aspects of the organization.
8BUSINESS INTELLIGENCE FUNCTIONALITY References Kimball, R., Ross, M., Becker, B., Mundy, J. and Thornthwaite, W., 2015.The kimball group reader: Relentlessly practical tools for data warehousing and business intelligence remastered collection. John Wiley & Sons. Laguna,M.andMarklund,J.,2018.Businessprocessmodeling,simulationanddesign. Chapman and Hall/CRC. Larson, D. and Chang, V., 2016. A review and future direction of agile, business intelligence, analytics and data science.International Journal of Information Management,36(5), pp.700- 710. Laursen, G.H. and Thorlund, J., 2016.Business analytics for managers: Taking business intelligence beyond reporting. John Wiley & Sons.