Strategic Impact of Business Intelligence in Public Companies in Malaysia
Verified
Added on  2023/06/18
|7
|1619
|215
AI Summary
This article discusses the strategic impact of using business intelligence within the business context of public companies based in the Malaysian market. It highlights the importance of business intelligence in building economic performance, working responsibly towards the environment, and improving social performance.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
DATA HANDLING AND BUSINESS INTELLIGENCE
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
TABLE OF CONTENTS INTRODUCTION...........................................................................................................................3 MAIN BODY...................................................................................................................................3 CONCLUSION................................................................................................................................6 REFERENCES................................................................................................................................7
INTRODUCTION Data handling is a process which is used to gather the business together to store and access data from different software solutions. It ensures that the research data is stored or even disposed off in a safe and secure manner while drawing outcomes for the project (Strohmeier, 2021). Business intelligence is a technology driven process which is used for the purpose of analysing the given data and delivering the information on which actions can be drawn. It helps the business in making informed decisions. MAIN BODY The modern business environment is very competitive which makes its important for the organization to gain the information such that it helps the company in building strength in its decision- making process. Business intelligence is an important tool which combines the management practices and as well as information technology to from strategic decisions in regard to the organisation's performance. This articles have explained business intelligence to be one integrated management information systems which will transform the data in information to make well- informed decisions (Abusweilem and Abualoush, 2019). The process of using the business intelligence is technology driven way which will analyse the data. Business intelligence will present this data in much more actions format where the gained information is used to help in making decision. The articles reviewed that this is the reason why business intelligence is important in obtaining big data. This process is added in the regular working practices and used as an important tool in making decisions in a fast and correct way. The different concepts related to business intelligence consists of integrating the data, determining analytical capabilities as well as content quality in the processes of business. I develop a decision- making culture. As per the abstract from the articles, business intelligence is adopted by lot number of organizations which includes the public listed companies. However, the complete benefits attained from using business intelligence is not very clear. It is not known that are the potential outcomes while making use of such technology. This paper depicts a disagreement related to the adoption of this technology driven process while not using it in the main business processes along with the decisions made which are not translated in the value for business. The main aim of this paper is to highlightthe parts where the businesses can produce
strategic impacts with the help of business intelligence utilization across the different functional areas of the business processes. The market in Malaysia is growing and emerging in the way of becoming an important market. The economy of the country has grown with the help of high support within the house hold spending as well as easy access to the private investment. The expectation from the Malaysian economy is to keeping moving forward while staying on the steady path towards the growth. The public companies present in Malaysia are contributing to the rise in its economy. This creates a lot of competition in this market and makes the idea behind business sustainability very important. The abstract from this article has highlighted the critical concerns regarding the business sustainability for the companies working in different industries in such markets. This is supported by the evidence from the industry reports and other sources for business news. Moreover, in the working of public businesses, stakeholders play a huge role in pressuring the business while dealing with high rates of uncertainty in the context of political, economical and social changes present around the globe. These factors are also responsible for magnifying the competition present on the global scale. These parameters have the ability to expose companies to the risk of survival and business sustainability. This article mentioned that the main elements such as profits, people and planet are considered during the time of examining the sustainability of the business. This makes it important for the business to identify and implement the balance between these elements. Sustainability of the business can be derived from having an analysis for the same. Enterprise reporting and performance management are equally important for making the business more sustainablewithinthemarket.Alltheseformpillarstotheprocessofhavingbusiness intelligence. This paper has mentioned an abstract from empirical studies which shows that business intelligence is very helpful in increasing the level of business optimization with the help of managing the ambiguity in an effective form. It addresses all the interests of the stakeholders of the company and thus, leading to business towards attaining sustainability. The most valuable part in this paper is the content talking about the strategic impact of business intelligence in the business of different organization. The first strategic impact reviewed in this paper is about the process of enhancing the economic performance. Business intelligence can be used in a positive way for any organisation. It forms a correlation between impact present on the routine with the innovative performance of
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
the organization. It shows the impact on the marketing and sales along with the impact on the management and internal operations. The procurement of the business is also influenced by different factors. The use of Business intelligence is beneficial in helping the companies to determine the sales and related trends. In addition to this, it helps in keeping an eye on the needs and requirements of the customers and monitoring their complaints. This helps in anticipating customer behaviour and determining the demands of the market. This makes the business attain the desired goals which includes having reduction in costs, improving the production process, developing new products, improving the customer services and finally leading to increase in the income. With the help of this, the use of business intelligence creates strategic impact on increasing the economic performance especially for the public listed companies (Eidizadeh, Salehzadeh and Esfahani, 2017). Such organisation can have improvements in its cost efficiency while gaining more revenue. This eventually leads to attain the overall financial performance of the company. Anotherstrategicimpactfromusingthebusinessintelligenceisstrengthening environmentalperformance.Withregardtothisarticlebusinessintelligenceusedinthe organization helps in increase the competitive advantage by providing an integration of data and building the analytical skills and capabilities. It helps in forming valuable decision- making and attaining he information for the stakeholders present at different levels of the company. Public working organization are subjected to show more interest related to the public and be concerned about taking the associated responsibilities regarding the business operations of the company. The article mentioned that one of the major challenge faced by the businesses is to balance the profit of the company with its impact on the environment while performing the business challenges. It is important for the companies to work while fulfilling its responsibility towards the planet. Thus, businesses must equip with the relevant as well as real time information with the help of business intelligence tools. Utilisation of such technology helps in strengthening the environmental performance in the public companies based in the market of Malaysia. On a more specific context, the articles identified that companies are able to observe the strategic impact by the help of diminishing the corporate impact present on the environment such as global warming while responding to the current climate change problem in a strategic manner (Chen and Siau, 2020).Thepaperendswhileshowcasingthestrategicimpactinreinforcingthesocial performance of the organisation. Business intelligence helps in uncovering the insights which are
related to morale level of employee. It is necessary for the public companies to be more involved in the corporate and social activities. Business intelligence provides information about the potential areas which have a contribution to the society and address the needs of the community with effective programs. Therefore, strengthening the social performance of company. CONCLUSION The main highlights of the given article is on the strategic impact of using business intelligence within the business context of public company based in the Malaysian market. It can be concluded that business intelligence is very helpful in helping the business build its economic performance, work responsibly towards the environment and improve the social performance. It helps in making the business become sustainable within the market.
REFERENCES Books and Journals Abusweilem, M. and Abualoush, S., 2019. The impact of knowledge management process and business intelligence on organizational performance. Management Science Letters. 9(12). pp.2143-2156. Chen, X. and Siau, K., 2020. Business analytics/business intelligence and IT infrastructure: impact on organizational agility. Journal of Organizational and End User Computing (JOEUC). 32(4). pp.138-161. Eidizadeh,R., Salehzadeh, R. and Esfahani, A.C., 2017. Analysing the roleof business intelligence, knowledge sharing and organisational innovation on gaining competitive advantage. Journal of Workplace Learning. Strohmeier, L., 2021. Central Business Intelligence: A Lean Development Process for SMEs. In B2B Marketing(pp. 685-698). Springer. Cham.