Current Trends in Business Intelligence and Its Strategic Impact

This report discusses the current trends in business intelligence and its strategic impact on organizations. It covers topics such as big data tools, artificial intelligence, data discovery and visualization, business intelligence utilization, business sustainability, and social performance.

Data Handling & Business Intelligence
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Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8
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INTRODUCTION
Business Intelligence refers to the set of process by which enterprises use appropriate
strategies, technologies for analysing current as well as historical data. With objective of BI is
improving strategic decision-making process and also helping to gain competitive.
In this report, it is selecting the research article-“Realizing the strategic impact of business
intelligence utilization” as identifying the current trends in context of BI. It will review selected
research article and presenting actionable information to help managerial decision-making.
MAIN BODY
Current Trend in Business Intelligence
Big data Tools- business has been evolving from static manner, which have already
occurred to the proactive analytics with dashboard. This is not only helping business to identify
every second thing, but it will give an alerts when something is not how Business intelligence
solution supports (Patel and Sharma, 2020). In recently, the demand of real-time of online data
analysis platforms are increasing and changing the way of business operations. It also brings
uncountable large amount of data or information. Sometimes, it also promoting the statistical
analysis, management at the top most level.
Another important factor in future of Business intelligence trends related artificial
intelligence. It will be creating as realistic image and identify whether it is support or not in
business perspectives. For purpose of business performance sustainability, it is very important to
use the concept of online verification process. It is not only handling the complex processing but
it can be performed the task smartly, evaluate & break any kind of online security system. In
current scenario, it obvious thing to increase trend of Business intelligence technology. Data
security is one of the important aspect of organisation because it can be utilised the complex
operational tasks in step by step manner.
By using Business intelligence Tool, different companies are performing data discovery and
visualization process. It has been increased the impact on the business performance. BI
practitioners show that empowerment of users who have constantly adopted the new trend. The
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essential element is to consider as data discovery tools which depends on the process and then
generated result or outcome. Therefore, it is very important to establish a strong relationship
between data or information in the form of presentation. Visual analysis and advanced analytics
are main component of Business intelligence. Therefore, it reflects on the data discovery process
and also increased the usage of data management, storage and extraction (Bordeleau, Mosconi
and Santa-Eulalia, 2018). Furthermore, discovering the trends in business operations that need to
understand the actual immediate actions. If in case, companies are managing their large amount
of data or information. At that time, it has been evolved the data visualization trend in BI and
provide the better solution.
For example- it is developing sales charts, comprehensive interactive and dynamic reports.
At that point, it should be discovered the data process and enable decision-making. There are lot
of decisions depends on the current trends of BI because it provide the exact same result or
outcome.
Business intelligence Utilization – As modern technology-drive process used by different
organisations and analysing large amount of data or information in proper manner. Sometimes, it
will be presenting the actionable information that help to manage or control decision making
process (Jalil and Hwang, 2019). The current trend of BI in context of enterprise utilization, it
means that integrated with regular business work activities and uses a proper practices as suitable
tool like big data. The reason for using BI tool which means that increase the speed, efficiency
and performance of organisation. Afterwards, it will support to make an important decision
regarding business growth and development. The great dimension of business intelligence is that
when include data integration, analytical capabilities and also maintain quality of content in
business process.
The business intelligence being adopted by multi-national companies such as public,
private enterprise. But at certain point, it is not clearly defined that these companies are gaining
profit or not. As per reviewed the research article, it has been identified the importance of
business intelligence and without use of BI, it is very difficult for organisations to make some
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necessary decision regarding business growth and development. Sometimes, it may arise
strategic impact of BI but it can be identified, if enterprise can be utilised in the several
functional areas.
Business Intelligence utilization has become positive aspect to establish correlation with
the innovative performance dimension. For example- different companies are impacting on the
market trends, sales and management, internal operations. at that time, business intelligence
helps enterprise to identify sale trends, monitor customer requests & complaints. Therefore,
companies are adopting a new trends of BI while increasing the productivity as well as
profitability in marketplace (Wazurkar, Bhadoria and Bajpai, 2017). Usually, it is always
enhance the overall performance of organisation effectively and efficiently. Whenever, it can be
used the various kind of strategic options which impact on enhancing the economic performance.
Companies are achieving a higher revenue, and eventually attain the entire financial performance
of enterprise.
Striving towards business sustainability by using Business intelligence- it is one of the
important aspect of business sustainability because upcoming enterprises support the market
condition. As if now, it will be increasing the household spending and investment. While
maintain the business sustainability, business intelligence plays important role to optimise the
entire business by managing its ambiguity effectively, thereby it can easily identify interest of
different stakeholders towards business intelligence, strive towards sustainability of organisation.
Nowadays, Business intelligence is the pillar of organisation that is always supports in
optimization through managing ambiguity effectively and efficiently. Sometimes, it also
addressed the interests of different stakeholders & strive towards enterprise sustainability.
Different organisations are focused on the environmental protection and performance so that they
are using BI Tools (Sharma, Shetty and Dhanare, 2021). It enables organisation’s strategic
planning, performance improvement and also building as competitive advantage. This is the best
way to gain more offers in data integration, analytical capabilities. Afterwards, it will support in
the decision-making for stakeholders at different levels. In context of environment performance,
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it will be increasing the trend of BI tools like Hadoop, big data which means that handle
challenging business operations in proper manner.
Reinforce the business and social performance- in recently, it has been identified the
trend of business intelligence in context of social performance. On the basis of research review,
There are different arguments support the business intelligence and also helping to utilise the
faster as well as easier process in access of information. in this way, it also identified the better
opportunities and threat in growth and development (Bordeleau, Mosconi and Santa-Eulalia,
2018). meanwhile, it is interacting with different stakeholders such as customers, competitors
and staff members. Companies are utilising business intelligence technique to keep maintain a
record of different stakeholder. If required, it can access the relevant data or information.
Moreover, business intelligence uses by public enterprise which means that uncover insights
about staff members and its moral, values. This is always contributing to human capital
development. in some situation, BI tools are significantly impact on the innovation.
CONCLUSION
From above discussion, it has concluded that strategic impact of Business intelligence but
different organisations are utilised the BIT tool in order to enhance the performance, speed and
efficiency of organisation. It has been supported reinforce the overall performance in context of
business sustainability. It directly effecting to dynamic enterprise environment and culture. By
using Business Intelligence, companies are setting the processes and use appropriate strategies,
technologies for analysing current as well as historical data. Furthermore, Discussion on the BI
which can be improved in the strategic decision-making process.
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REFERENCES
Book and Journals
Patel, J.A. and Sharma, P., 2020. Online Analytical Processing for Business Intelligence in Big
Data. Big Data, 8(6), pp.501-518.
Bordeleau, F.E., Mosconi, E. and Santa-Eulalia, L.A., 2018, January. Business Intelligence in
Industry 4.0: State of the art and research opportunities. In Proceedings of the 51st
Hawaii International Conference on System Sciences.
Jalil, N.A. and Hwang, H.J., 2019. Technological-centric business intelligence: Critical success
factors. Int. J. Innov. Creat. Chang.
Wazurkar, P., Bhadoria, R.S. and Bajpai, D., 2017, November. Predictive analytics in data
science for business intelligence solutions. In 2017 7th International Conference on
Communication Systems and Network Technologies (CSNT) (pp. 367-370). IEEE.
Sharma, K., Shetty, A. and Dhanare, R.K., 2021, January. A Comparative Analysis on Various
Business Intelligence (BI), Data Science and Data Analytics Tools. In 2021 International
Conference on Computer Communication and Informatics (ICCCI) (pp. 1-11). IEEE.
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