Data Handling and Business Intelligence: A Comprehensive Report

This report provides a comprehensive overview of business intelligence (BI), examining its significance in modern business environments. It delves into the concept of BI, emphasizing its role in data analysis, decision-making, and strategic planning. The report explores the integration of BI with management information systems and its impact on organizational efficiency and performance. It covers literature reviews, knowledge and understanding of BI, practical applications, and the essential skills required for professionals in this field. The report also discusses the limitations of BI, such as data breaches and high costs, while highlighting its benefits in terms of improved reporting, analysis, and planning. The practical application and deployment of BI, including sales intelligence and data visualization, are discussed, along with the skills needed for effective BI practice, such as data analysis and problem-solving. The report concludes by summarizing the benefits and limitations of BI, emphasizing its potential to enhance organizational effectiveness.

DATA HANDLING AND BUSINESS
INTELLIGENCE
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Table of Contents
INTRODUCTION...........................................................................................................................3
Literature..........................................................................................................................................3
Knowledge and understanding of business intelligence..................................................................4
Analysis...........................................................................................................................................4
Practical application and deployment..............................................................................................5
Skills of professional practices........................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8
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INTRODUCTION
The research article- “Realizing the strategic impact of business intelligence utilization” as
consider as important topic or subject in order to focus on the concept of business intelligence
and find its current trends in marketplace. It is highly competitive and dynamic business
environment, organisations intend to scrutinize the data or information needed in term of
decision-making. According to the review article, it can be developed more understanding
towards the business intelligence and refers to the integration with management information
system.
Literature
As per (Eidizadeh, Salehzadeh and Esfahani, (2017), modern technology is based on
technology driven process for analysing large amount of data or information. It will support to
present actionable information which help to make an important decision. Business intelligence
has become important concept in term of big data technology. Nowadays, business intelligence
has been integrated with regular activities of enterprise which means that increase speed and
efficiency of organisations.
(Puklavec, Oliveira and Popovič, (2018) Said that business intelligence has been
considered the different dimensions that help to represent data integration, analytical capabilities,
content quality in business process. In this way, it may support for organisation to improve the
decision making culture or environment. Each and every organisation have been used the
business intelligence approach in order to enhance their capability or ability in marketplace. But
at certain level, it is not clear whether enterprises gain full of benefit of what they could
potentially bring. Author argue that adoption of business intelligence is not appropriate without
utilization in business processes as well as decision making. it is always helping to translate into
business value but it needs to be consider strategic plan. so as, it is directly impact on the overall
performance of organisation.
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Knowledge and understanding of business intelligence
Business intelligence is based on the software that can harness the overall power of data or
information with an organisation. It offers better way to compare, analyse, sort and manage the
large amount of data or information. In this way, it help to make an important decision in
business growth and development. Companies are adopting business intelligence solution which
turn enterprise data into insight and take plausible action (Lim and Teoh, (2020). It is important
source of business decision that increase productivity, enhance growth and improve revenue of
enterprise.
For an enterprise operations to become informed by data, it will employ a business
intelligence or BI strategy. It allows an enterprise to make decision but it is also analysing the
large amount of data or information. it covered the broad spectrum of modern technologies and
techniques from different way that data or information is organised or analysed in proper
manner. According to the concept of business intelligence technique, it has been improved
planning and analysis to focus on the business operations. Business intelligence has been shown
more accurate data, improve confidence in business forecasting. In recently, the use of BI in
business which means that help enterprise with marketing, budgeting. It is more accurately
support the better way to handle the business plan.
Analysis
Business intelligence is useful in several ways and this is important for sustainability of
business and sustainability of business is significantly influenced by business decisions and this
has influence of business insights available to make informed decisions. Organisations striving
towards business sustainability can use business intelligence and get benefit of business
intelligence (Poonnawat, Pacharawongsakda and Henchareonlert, (2017). Business intelligence
has impact on economic performance of the business and in this business insights provide
important information about how economic performance of business can be improved.
Marketing and sales, impact on management and internal operations and innovation performance
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of organisation also get influenced by utilisation of business intelligence. Business intelligence
also have impact on social performance of the business because it enables to get easy and faster
access to data and information regarding performance of business and business processes and
also enables businesses to identify opportunities and threats of business. On the basis of this
social performance of business can be improved and enhanced. Social performance involves how
business impacts customers, suppliers, and competitors and employees of the business. Business
intelligence also have benefits for organisation in terms in faster reporting, analysis and planning
and this improves businesses processing of the organisation. Decision-making and taking action
on decisions also become easier and faster (Shaqrah, (2018). However, it is important to consider
that business intelligence is also not free of drawbacks and limitations. Limitations of business
intelligence involve that they can lead to data breaches for the organisation and cause threat to
privacy and protection of data of organisation. High prices, is another limitation of business
intelligence in which because of its high prices only businesses having capacity to spend large
amount can use business intelligence and for others it is not useful because they cannot develop
business intelligence system in business.
Practical application and deployment
Business intelligence is a data analysis process that is technology driven and enables
organisation to get actionable decisions for business. This helps executives and managers in
business to make practically feasibly business decisions. In relation with practical application
and deployment of business intelligence there are different ways in which this can be practically
deployed. Business intelligence involves data that is typically stored in data warehouse that is
built for entire organisation or for smaller parts and departments within organisation. Data for
business intelligence can be based on historical information and also based on real-time data
collection for business decisions. This also enables business tools to support and enable tactical
decision-making in organisation (Mishra, (2019). Application and deployment of business
intelligence can be done in variety of ways and this involves sales intelligence in which
businesses collect data about how they meet requirements of customers and on the basis of this
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informed decisions can be taken to increase sales of business. Visualisation is another way in
which business can deploy business intelligence system and this enable monitoring logistics,
sales, productivity and much more. Monitoring with help of business intelligence helps in
making timely decisions and business becomes able to bring frequent changes in processes of the
organisation to better achieve goals of the business (Lim and Teoh, (2020). Reporting is another
way through which business intelligence can be deployed by business and reporting involves
summarization of data and reporting of data for the purpose of monitoring of business
performance by businesses. This enables top management and executives to monitor business
performance and business intelligence improves accuracy of reporting by businesses.
Skills of professional practices
Professional practice for business intelligence requires individuals to have certain skills
and knowledge that enables them to effectively practice business intelligence. These skills are-
Data analysis- This involves that individual have data analysis skills because complete process
of and functioning of business intelligence is based on data.
Problem-solving- Problem solving is also a important skill for business intelligence because
during application and processing of business intelligence individuals are likely to encounter
several problems and this is why problem-solving skill is very important for them.
Advanced vision and attention to detail- This is also an important skill and according to this
individuals need to have advanced vision and attention to detail (Poonnawat, Pacharawongsakda
and Henchareonlert, (2017). Attention to detail helps in identifying opportunities and threats that
remain unnoticed for being small.
Industry specific knowledge- This is also important for professional practice that people are
equipped with industry specific knowledge to make right decisions about business.
CONCLUSION
On the basis of above discussion, it can be said that business intelligence can be very
effective means to improve organisational efficiency. Business intelligence have several benefits
but it is also not free of limitations. Business intelligence can be deployed in variety of ways and
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can allow several benefits to businesses but professionals are required to have certain skills for
business intelligence.
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REFERENCES
Book and Journals
Eidizadeh, R., Salehzadeh, R., & Esfahani, A. C. (2017). Analysing the role of business
intelligence, knowledge sharing and organisational innovation on gaining competitive
advantage. Journal of Workplace Learning.
Lim, Y. Y., & Teoh, A. P. (2020). Realizing the strategic impact of business intelligence
utilization. Strategic Direction.
Mishra, S. (2019). Performance analysis of women in Central Bank Monetary System using
business intelligence. Global Journal of Management and Business Research.
Poonnawat, W., Pacharawongsakda, E. & Henchareonlert, N., (2017), August. Jobs analysis for
business intelligence skills requirements in the asean region: A text mining study.
In The Joint International Symposium on Artificial Intelligence and Natural Language
Processing (pp. 187-195). Springer, Cham.
Puklavec, B., Oliveira, T., & Popovič, A. (2018). Understanding the determinants of business
intelligence system adoption stages. Industrial Management & Data Systems.
Shaqrah, A. A. (2018). Analyzing business intelligence systems based on 7S model of
McKinsey. International Journal of Business Intelligence Research (IJBIR), 9(1), 53-
63.
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