Business Intelligence Report: Technologies Impacting Business Strategy

This report delves into the evolving landscape of business intelligence, emphasizing the transformative impact of modern technologies. It highlights how businesses are shifting from traditional data maintenance to leveraging tools like SAP, ERP, and cloud services. The report focuses on key technologies such as Blockchain, Data as a Service (DaaS), and Analytics as a Service (AaaS), and their roles in managing Big Data, enhancing decision-making, and increasing profitability. Blockchain is presented as a secure record-keeping technology that facilitates secure transactions and streamlines supply chains. DaaS is discussed as a cloud-based strategy for accessible data collection, analysis, and distribution, enabling businesses to handle increasing data volumes efficiently. Analytics as a Service (AaaS) is explored as a cost-effective solution for businesses needing advanced analytical services, leveraging AI and data mining techniques for trend analysis and business solutions. The conclusion emphasizes that these technologies are reshaping business operations, making them faster, safer, and more data-driven, leading to improved accuracy and strategic decision-making. The report references key industry sources to support its findings.

Running head: BUSINESS INTELLIGENCE
BUSINESS INTELLIGENCE
Name of the Student
Name of the University
Author Note

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Introduction
Technology and artificial intelligence have developed a lot with the flow of time. Almost
all businesses are using SAP, ERP and cloud services rather than traditional book-keeping and
data maintenance. Business intelligence helps in the conversion of the raw data into digital
information that is meaningful and helps the businesses to be profitable. Maintaining a large
volume of structured and unstructured data – Big Data is difficult. The contribution of analytical
tools like the Blockchain, Data as a Service (DaaS) and Analytics as a Service (AaaS) supports
the day to day decision makings in the business world and helps in managing Big Data (Bughin,
Chui & Manyika, 2010).
Discussion
Blockchain
Blockchain is one of the most secure and efficient technologies that serve the business
and helps them in increasing their profitability. It is a record-keeping technology that helps to
maintain a large volume of data. Blockchain is nothing but a combination of Blocks and Chains.
Block means digital information and Chain refers to the public database. The data stored in
blocks form a chain that is highly secured and is driven by cryptographic strings. It helps in the
transfer of money, management of supply chain, record-keeping, encryption of messages and
simplified trading. Blockchain and business intelligence is a superb combination that increases
efficiency and removes any third party in between (YourTechDiet, 2020). It secures the business
data and helps businesses, consumers and vendors make one to one transactions at ease.

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Data as a Service
The Data as a Service Business model is one of the best ways of collecting data and
monitoring, analyzing and distributing the same for leveraging growth opportunities and
increasing returns on investment and profitability. Data as a Service is a cloud-based strategy
that collects information and makes it available and accessible at all levels of the department, at
any time and from anywhere (Innovatevancouver, 2020). With the increase in competition and
the expansion of business, the volume of data has kept on increasing. The market has become
lightning-fast and hence it becomes impossible to store such a large number of data across every
department and maintain the same with proper security. DaaS comes to the rescue at this point as
it enables the business such large data into one cloud-based area and enable them in accessing
real-time data streams from anywhere.
Analytics as a Service
A business that needs to perform a large number of analytical services takes advantage
of Analytics as a Service to save costs and save time. Implementing an analytical process
requires several servers, hardware, software, and IT staff to maintain the same. The business, in
this case, can utilize AaaS to avoid huge costs and provide the best results in a short period
(Sisense, 2020). This service uses predictive analytics, artificial intelligence and data mining
techniques for analyzing business trends and provides business solutions based on historical and
current data.
Conclusion
Therefore, it can be concluded from the above discussion that the emerging trends and business
technologies have disrupted the way of doing business. Business operations and transactions are

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now not only fast but also safe and secure with the help of these modern tools and technologies
providing accurate data rather than assumption based analysis.

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Reference
Bughin, J., Chui, M., & Manyika, J. (2010). Clouds, big data, and smart assets: Ten tech-enabled
business trends to watch. McKinsey quarterly, 56(1), 75-86.
Innovatevancouver. (2020). Retrieved 19 April 2020, from
https://innovatevancouver.org/2017/09/06/data-as-a-service-daas-business-models/
Sisense. (2020). Analytics as a Service (AaaS) - What is AaaS? | Sisense. Retrieved 19 April
2020, from https://www.sisense.com/glossary/analytics-as-a-service-aaas/
YourTechDiet. (2020). What is the Role of Blockchain in Business Intelligence?. Retrieved 19
April 2020, from https://www.yourtechdiet.com/blogs/blockchain-business-intelligence/