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Running head: IMPACT OF BUSINESS INTELLIGENCE TOOLS IMPACT OF BUSINESS INTELLIGENCE TOOLS Name of the Student: Name of the University: Author Note:
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1IMPACT OF BUSINESS INTELLIGENCE TOOLS Executive Summary Business decisions are crucial decisions that can change the way a business operates. The huge amount of data they collected can be easily analyzed using the various business analytics tools available. This can help them make sense of the data. This report will state about the different BI tools and how they can help to improve the Brentford College by analyzing their datasets and identifying new trends. In this report, the impact of these business intelligence tools on businesses will be discussed along with the benefits of these tools and methods.
2IMPACT OF BUSINESS INTELLIGENCE TOOLS Table of Contents The dashboard and its use in effective decision making in Brentford College...............................3 Legal issues involved in producing business intelligence solutions................................................3 Two organizations which uses business intelligence.......................................................................4 The organizations using business intelligence to expand their businesses......................................4 References........................................................................................................................................6
3IMPACT OF BUSINESS INTELLIGENCE TOOLS The dashboard and its use in effective decision making in Brentford College The tool created can be used by Brentford College to easily summarize their unorganized data sets and can convert them into graphical representations that can be easily understood by their staff. The dashboard created in Microsoft Excel can easily convert raw data into pivot graphs and pivot tables that can be easily viewed from many different angles. The data can be selectively seen on each graph. For example, the number of students of Brentford college from Bangladesh and Pakistan can be seen based on their age group divisions in a bar chart format. The charts are customizable allowing the viewer to see the specific data he wants to find. He only needs to select the countries he wants to view from the chart. The raw data in the form of pivot tables are stored in a separate excel sheet in the dashboard. Each chart or graph in the dashboard is customizable. This will help the college identify with the major student bodies and understand their needs better. The college can then focus on those countries from where they get least students and try to increase their reach in those areas.
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4IMPACT OF BUSINESS INTELLIGENCE TOOLS Figure1Dashboard view (Source: created by author) Legal issues involved in producing business intelligence solutions Therearemanylegalissuesfacedbymanagementswhenimplementingbusiness intelligence solutions. Firstly, BI tends to collect huge amount of data from different sources including the management themselves and this integration of data becomes a big problem legally. The data collected by business intelligence tools are always under the risk of getting breached. Leakage of confidential data over the internet in not uncommon. These data can be used devastatingly in the hand of the wrong guys. Another legal aspect of BI is that the data it collects should only be shared on a limited basis and a hierarchy should be maintained. Not everyone in the organization needs to know everything. Privacy and security are two very important aspects of business intelligence. Storing business intelligence gathered data in the cloud databases can be a huge risk for the company as any leak of client data through hacking can lead to massive legal issues for the company. This
5IMPACT OF BUSINESS INTELLIGENCE TOOLS calls for external security infrastructure for the company. The organization can use a separate specialized vendor to handle the security aspect of the data when using BI. Two organizations which uses business intelligence The two companies taken in this report is Netflix and Amazon. Both these companies are big multinational companies. The business intelligence concept is totally exploited by Netflix. They use BI tools to monitor the type of shows liked by their customers. This tool makes an individualized suggestion list for each customer. So, every time a person finishes a show in Netflix, the website suggests those related shows to keep them interested and renewing their subscriptions. After totally understanding their customers at individual levels the company are able to now predict and produce shows that will be liked by a larger audience and increase profit. Figure2Netflix analysis using BI (Source: google images)
6IMPACT OF BUSINESS INTELLIGENCE TOOLS The next company taken is Amazon. Amazon is a high tech retail megacorporation. They are also one of the main players of business intelligence innovations. The company has mastered the art of following and analyzing their customer’s purchase and search history. This allows them to start shipping of a product even before purchasing. The accuracy level of their BI tools makes them confident enough to start the shipping process. This results in very fast delivery as by the time you purchase the product, the product is already shipped. Figure3Use of BI in Amazon (Source: google images) The organizations using business intelligence to expand their businesses Amazon and Netflix can also use business intelligence to increase their competiveness and grow into new markets by increasing their target audience scope. For example, Netflix can use BI tools to do analysis as to which types of shows are very popular in say a country like Australia or Britain. This information can be gathered based on the statistics obtained from the movie ticket sale records, customer movie DVD purchase history, web search history and TV
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7IMPACT OF BUSINESS INTELLIGENCE TOOLS subscriptions. This data can then be used to order the genres from most like to least liked. Based on this the company can produce or create shows related to the most popular genres. This can lead to great market penetration. The same techniques and tools can also be used by Amazon to know about the purchase trends of the people of these countries and know about the types of products more popular there. Based on that Amazon can stock up their warehouses with products in high demand to increase sales and revenues. This will help then to drastically reduce their delivery time and increase customer satisfaction and reach.
8IMPACT OF BUSINESS INTELLIGENCE TOOLS References Nagar, P., Atriwal, L., Mehra, H. and Tayal, S., 2016, March. Comparison of generalized and big data business intelligence tools. In2016 3rd International Conference on Computing for Sustainable Global Development (INDIACom)(pp. 3585-3588). IEEE. Richards,G.,Yeoh,W.,Chong,A.Y.L.andPopovič,A.,2019.Businessintelligence effectivenessandcorporateperformancemanagement:anempiricalanalysis.Journalof Computer Information Systems,59(2), pp.188-196. Rosemann,M.andvomBrocke,J.,2015.Thesixcoreelementsofbusinessprocess management. InHandbook on business process management 1(pp. 105-122). Springer, Berlin, Heidelberg. Sauter, V.L., 2014.Decision support systems for business intelligence. John Wiley & Sons.