MIS781 - Business Intelligence: Benefits and Applications of BI Tech

This report provides a comprehensive overview of business intelligence (BI), examining its benefits and applications across various sectors. It begins by defining BI as the use of data analysis to improve business performance, highlighting its analytical features and tools such as online analytics, d...Read More

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

1BUSINESS INTELLIGENCE
Table of Contents
1. Introduction............................................................................................................................2
2. Summary of BI Benefits.........................................................................................................3
2.1 Strategic Benefits.............................................................................................................3
2.2 Operational Benefits.........................................................................................................4
3. BI Applications in different sectors & Summary Table.........................................................5
3.1 BI Applications in Retails................................................................................................5
3.2 BI Applications in Sports.................................................................................................6
3.3 BI Applications in Entertainment.....................................................................................6
Conclusion..................................................................................................................................7
Reference:..................................................................................................................................8

2BUSINESS INTELLIGENCE
1. Introduction
The different ways data is used and analysed in big businesses for improving the
performance of the enterprise may be regarded as business intelligence. The analytical feature
of business intelligence provides the decision makers with the ability to understand the
present situation of the business in terms of financial status and operations. The analysis is
done in historical context and the predictions are made using several past and present trends
of the business till now (Chen, Chiang and Storey 2012). The various presently used tools,
functions and features of Business Intelligence are online analytics, data mining, big data
analysis, management of business performance, benchmarking, Key performance indicators
and similar other processes. Business Intelligence is used in various ways to analyse large
amount of data and to analyse these to give meaningful outcomes. The interpretation of big
data is useful in understanding how much the business has been successful in achieving its
aims and goals and what actions needs to be taken in future by the business to ensure that the
mission and vision of the business is achieved at all levels (Anandarajan, Anandarajan, and
Srinivasan 2012). All levels here indicates the higher management and the lower working
staff members.
The Business Intelligence software is mainly used by the knowledge workers. The
knowledge workers are the top brass of the organisation who engage in decision making
process and includes the executives, supervisors, managers, and the directors. The reports are
necessary for advancing the knowledge about what are the steps that are needed to be taken in
order to correct the present flaws in the company. The increasing demand of Business
Intelligence has been triggered by the decline in cost of data storing and management. The
space taken for storing data has also been reduced.

3BUSINESS INTELLIGENCE
2. Summary of BI Benefits
2.1 Strategic Benefits
Even the small businesses are dependent on large amount of data these days. The data
produced daily by different business entities needs to be properly stored and managed. To
grow the businesses needs to be better equipped with data analytics software and business
intelligence tools. The strategic benefits are as follows:
Empowered Employees- It is a fact that when the employees’ gets access to proper
data they can concentrate on their work in a better way and the unwanted tasks may be
avoided in this way. The first strategic benefit of the Business Intelligence software is the
information access it provides to the employees which helps the employees in understanding
their work in a better way and improving in the areas where it is required (Popovič et al.
2012).
Reduced Stress for the Managers- The managers are freed of the burden to look into
the details of big data and manually manage these data and analyse these. Rather this resource
does the work till the analysis of the data and the managers can take a look at the results of
the data and make decisions depending on the analysed data (Loshin 2012).
Improvement of Agenda by Objective Data- The Agenda of meetings and
discussions are enhanced when the meetings and decision making processes are enhanced
with backing of proper data (Ramakrishnan, Jones and Sidorova 2012). When there is an
argument made it is important to support the argument with objective data and logical
reasoning.
Insights about Consumer Behaviour- One of the strategic gains that is there on the
part of the business top brass is the insights about the Consumer Behaviour. The data
collected by various ends of the business opens up the possibility to understand the various

4BUSINESS INTELLIGENCE
trends in the pattern of consumer behaviour. When new purchases are made by the
consumers, data is recorded which is analysed and the consumer behaviour can be perceived.
Developed understanding about Past, Present and Future of the Business- It is
imperative for the top management to understand the Past and Present of the business to
analyse the possibilities in the future. Data from the past and present is necessary for proper
analysis which will help in understanding the trends of the business and develop future
predictions.
Name of Strategic Benefit Benefits
Empowered Employees  When the employees’ gets access to
proper data they can concentrate on
their work in a better way.
 Business Intelligence software
provides information access to the
employees.
Reduced Stress for the Managers  The managers are freed of the burden
to look into the details of big data.
 Managers can take a look at the
results of the data and make decisions
depending on the analysed data.
Improvement of Agenda by Objective Data  Meetings and decision making
processes are enhanced with backing
of proper data
Insights about Consumer Behaviour  The data collected by various ends of
the business opens up the possibility
to understand the various trends in the

5BUSINESS INTELLIGENCE
pattern of consumer behaviour.
Developed understanding about Past, Present
and Future of the Business
 Data from the past and present is
necessary for proper analysis which
will help in understanding the trends
of the business and develop future
predictions
2.2 Operational Benefits
Efficiency Development- The efficiency of business operations are developed by the
performance analysis tools and by keeping a performance indicator that is helpful in
understanding the various strengths and weaknesses of the business as a whole and the
employees working in the company.
Data Warehousing- Enterprise Data Warehouse system is based on the idea that data
can be used with a software that can segment data in various sections so that these can be
retrieved as and when required. When data has to be merged from various sources having a
range of a long time data warehousing is helpful in such process (Duan and Da Xu 2012).
Such merging also gives a bigger picture of the company and gives insights about resolving
of issues.
Actions can be tested repeatedly- It is one of the useful features of Business
Intelligence where it is understood whether the various actions taken by the business
supervisors are properly implemented or not and these are giving proper results or not. The
metrics of analysis can be tracked by the intelligent programs.
Competitive Edge- The business has competitive edge when it gets the support of
Artificial Intelligence because the analysis is comparatively better than the competitors. In

6BUSINESS INTELLIGENCE
the same way better analysis of the past makes it easier for the management to take
operational decisions that will be effective in the future.
Name of Operational Benefit Benefits
Efficiency Development  The efficiency of business operations
are developed by the performance
analysis tools.
Data Warehousing  Enterprise Data Warehouse system is
based on the idea that data can be
used with a software that can segment
data in various sections so that these
can be retrieved as and when
required.
Actions can be tested repeatedly  It is understood whether the various
actions taken by the business
supervisors are properly implemented
or not and these are giving proper
results or not
Competitive Edge  The business has competitive edge
when it gets the support of Artificial
Intelligence because the analysis is
comparatively better than the
competitors.

7BUSINESS INTELLIGENCE
3. BI Applications in different sectors & Summary Table
3.1 BI Applications in Retails
Business Intelligence may be used by the different retail companies to properly
execute the regular operations and improve the experience of the customers and customise
the way customers perceive service. Two of the important areas where business intelligence
can be applied is the area of inventory management and the area of customer management.
Inventory management is the process of managing the inventory and the products with which
the company is dealing, on the other hand customer management is the process by which the
companies manage the customer data and affectively use it in order to give better service
experience to the customers. The inventory system comprises of the process starting with the
acquiring of the product by the retail stores, placing these products separately by sorting them
according to category, then supplying these products to the customers as per demand through
the proper supply system. With increase in the variety of customer demands it is imperative
for the retail chains to ensure a system that will give flawless supply to the customers.
Business intelligence helps in separating their items from the client. The product causes the
association to comprehend what should be possible with the goal that the association gets the
upper hand over their opponents. The business intelligence helps in the asset advancement.
Business Intelligence intends to incorporate all the money related information to oversee and
control the task expenses and after that advancing the business execution to show signs of
improvement gainfulness. BI additionally tracks and figure the past, present and future tasks
that will influence the activity of the business (Wixom et al. 2014). The association can roll
out or embrace improvements as per that.
3.2 BI Applications in Sports
Business Intelligence is basically managing data so this can be efficiently used in
sports as well (IşıK, Jones and Sidorova 2013). The on-field sensors are as of late utilized as

8BUSINESS INTELLIGENCE
a part of the cricket, football and different games. These sensors help in following distinctive
exercises in the field. Association are utilizing distinctive strategies to gather the information,
for example, radio recurrence ID that aides in following the development, separation, speed
and other diverse key elements of the amusement. These data can be utilized amid the match
to illuminate the mentors about the state of the player or can be utilized later to settle on key
choices. Wearable advancements, for example, pulse tracker can encourage the coach and the
player to remain cognizant about their wellness target and their advance. The wearable
advancements can likewise help in comprehension, following, counteracting and
distinguishing the wounds that may occur whenever in the field. Business intelligence helps
in drafting better group in sports. For instance in football, business intelligence is utilized by
various football groups like Barcelona, Real Madrid to draft a solid group. The groups’
record the productivity and the precision of the players and after that pick the players.
3.3 BI Applications in Entertainment
The entertainment industry has been doing business more than ever before. It is this
industry that employs thousands in every country having a film and television industry. The
media may also be categorised under this heading. There are plenty of information with
which this industry deals. This industry may be recognised as one which only deals with
information and data. The human resource associated with this industry is also very high in
numbers. Therefore Business Intelligence Applications are very helpful in this industry to
maintain a proper track of whatever activities are carried out. A term called “productivity
improvement analytics” is the appropriate response. Enabled with the subtleties of
probabilistic displaying, efficiency change examination could be directed to assimilate the
media house's information, break down it, and furnish them with the correct data about
reusable parts alongside the level of reusability. The Business Intelligence software can be

9BUSINESS INTELLIGENCE
used in various fields like management of human resource in the entertainment industry or
keeping records of the past productions and all the financial and other details.
Sector Application of BI
BI Applications in Retails  Two of the important areas where
business intelligence can be applied is
the area of inventory management and
the area of customer management.
 Inventory management is the process
of managing the inventory and the
products with which the company is
dealing, on the other hand customer
management is the process by which
the companies manage the customer
data and affectively use it in order to
give better service experience to the
customers.
 Business Intelligence intends to
incorporate all the money related
information to oversee and control the
task expenses and after that advancing
the business execution to show signs
of improvement gainfulness.
BI Applications in Sports  Business Intelligence is basically
managing data so this can be

10BUSINESS INTELLIGENCE
efficiently used in sports as well.
 The on-field sensors are as of late
utilized as a part of the cricket,
football and different games. These
sensors help in following distinctive
exercises in the field.
 Association are utilizing distinctive
strategies to gather the information,
for example, radio recurrence ID that
aides in following the development,
separation, speed and other diverse
key elements of the amusement.
BI Applications in Entertainment  There are plenty of information with
which this industry deals. This
industry may be recognised as one
which only deals with information
and data.
 The human resource associated with
this industry is also very high in
numbers.
 Therefore Business Intelligence
Applications are very helpful in this
industry to maintain a proper track of
whatever activities are carried out.
 A term called “productivity

11BUSINESS INTELLIGENCE
improvement analytics” is the
appropriate response.
Conclusion and Research Contribution
The diagnostic element of business intelligence furnishes the leaders with the capacity
to comprehend the current circumstance of the business as far as money related status and
tasks. The investigation is done in authentic setting and the expectations are made utilizing a
few over a wide span of time patterns of the business till now. Business Intelligence is
utilized as a part of different approaches to break down vast measure of information and to
examine these to give important results. The elucidation of huge information is helpful in
seeing how much the business has been effective in accomplishing its points and objectives
and what moves should be made in future by the business to guarantee that the mission and
vision of the business is accomplished at all levels. Indeed, even the private companies are
reliant on vast measure of information nowadays. The information delivered day by day by
various business substances should be appropriately put away and oversaw. To develop the
businesses should be better outfitted with information investigation programming and
business intelligence apparatuses.
This research will contribute in understanding of application of Business Intelligence
in various sectors. The clear understanding of Business Intelligence will be paving for more
knowledgeable employees who will have proper idea about various business application
software and tools. Enhanced idea about business intelligence will increase productivity and
work efficiency. Other studies in the fields such as what are the other areas which can be
improvised and improved in business intelligence techniques can be taken up.

12BUSINESS INTELLIGENCE
Reference:
Anandarajan, M., Anandarajan, A. and Srinivasan, C.A. eds., 2012. Business intelligence
techniques: a perspective from accounting and finance. Springer Science & Business Media.
Chen, H., Chiang, R.H. and Storey, V.C., 2012. Business intelligence and analytics: from big
data to big impact. MIS quarterly, pp.1165-1188.
Duan, L. and Da Xu, L., 2012. Business intelligence for enterprise systems: a survey. IEEE
Transactions on Industrial Informatics, 8(3), pp.679-687.
IşıK, Ö., Jones, M.C. and Sidorova, A., 2013. Business intelligence success: The roles of BI
capabilities and decision environments. Information & Management, 50(1), pp.13-23.
Loshin, D., 2012. Business intelligence: the savvy manager's guide. Newnes.
Popovič, A., Hackney, R., Coelho, P.S. and Jaklič, J., 2012. Towards business intelligence
systems success: Effects of maturity and culture on analytical decision making. Decision
Support Systems, 54(1), pp.729-739.
Ramakrishnan, T., Jones, M.C. and Sidorova, A., 2012. Factors influencing business
intelligence (BI) data collection strategies: An empirical investigation. Decision Support
Systems, 52(2), pp.486-496.
Wixom, B., Ariyachandra, T., Douglas, D.E., Goul, M., Gupta, B., Iyer, L.S., Kulkarni, U.R.,
Mooney, J.G., Phillips-Wren, G.E. and Turetken, O., 2014. The current state of business
intelligence in academia: The arrival of big data. CAIS, 34, p.1.