Tools for Evaluating SIS Placement

This report explores the tools and techniques used to evaluate the placement of strategic information systems (SIS) within organizations. It uses Standard Chartered PLC as a case study, examining various business intelligence (BI) and business analytics tools. The report is divided into two main assignments. Assignment 1 focuses on BI tools such as executive scorecards, OLAP analysis, ad-hoc reporting, operational reporting, and forecasting. Assignment 2 delves into business analytics tools like business experiments, visual analytics, correlation analysis, regression analysis, scenario analysis, time series analysis, data mining, text analytics, sentiment analysis, image analytics, video analytics, voice analytics, linear programming, and factor analysis. The report concludes by emphasizing the importance of SIS and the strategic advantages gained through effective use of BI and business analytics tools. It also outlines strategies for implementing a successful BI system, including assessing the current situation, developing a data storage plan, understanding user needs, deciding on building versus buying analytical data models, and considering all business intelligence elements.

Tools for Evaluating the
Placement of Strategic
Information Systems

Table of Contents
INTRODUCTION...........................................................................................................................1
ASSIGNMENT 1.............................................................................................................................1
A.............................................................................................................................................1
B.............................................................................................................................................2
ASSIGNMENT 2.............................................................................................................................4
A.............................................................................................................................................4
B.............................................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Strategic information system is significant for the companies which can help to attain
their goals and objective in an efficient and effective way. This system can be used by the
business unit to take competitive advantage over its rival firms. There are various kind of
information which are involved to conduct the information regarding products and services of its
competitors, to know the marketing strategies of its rival firm and to provide their products and
services with uniqueness as compared to its competitor entities (Turban, Sharda and Delen,
2011). There are various kind of information from each and every level within organization. In
the present report, Standard Chartered PLC has been chosen is one of the leading international
banking corporations which provide the wide range of banking to its customers that involves
personal banking, corporate banking, wealth banking, Islamic banking, online banking etc. The
purpose of this report is to identify and analyse various tools and capabilities of business
intelligence and business analysis (Brown, 2007).
ASSIGNMENT 1
A
There are various tools and capabilities of business intelligence tools which can be used
by companies to take competitive superiority over its rival firms. It is important for a company
that to use these tools in an appropriate way, so that it can give the strategic advantage to the
firm. Standard Chartered bank is required to evaluate these techniques so that they can make
their decisions mare effectively. There are various decisions which can be taken by various
levels like strategic, operational and tactical. These tools and capabilities as given below:
Executive Scorecards and Dashboards: It is important for the senior manager of company to
know actual performance of an individual. These tools can help to monitor and evaluate the key
performance of their employees with their past performance (Laursen and Thorlund, 2010). It
also helps company to know the real time performance of an individual, which can leads to
performance and efficiency of the business unit.
OLAP Analysis: It is a significant tool which can be used by the business unit to analyse various
corporate information and data. It can be used by the business analyst and higher authorities that
can help in taking the strategic decision making at higher level. Various business intelligence
approaches provide detailed and in depth OLAP capabilities, which can identify and manipulate
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the data and information thousand times. Standard Chartered bank is required to make an
effective online analytical processing system which can help to maintain their sophisticated
information in an appropriate way (Stohr, Goes and Chiang, 2012).
Ad-hoc Reporting: There are various information and data which can be used in the reports.
These reports have a systematic format which can be followed by the employees. Many a times
these reports requires to refreshing the data and information in reports. These reports will be
enough to satisfy their staff. In order to meet the urgent information and data, an ad-hoc report
can be used by the organization. It can help to generate their report in an easy way.
Operational Reporting: There are various operational tasks or job which are related to the day to
day basis. In order to execute these tasks, there are various factors which can affects daily
operations (Lim, Chen and Chen, 2013). The tools of business intelligence can help the firm to
support operational activities of business. It also helps to monitor and supervise the real time
performance of a particular job.
Forecasting: The business environment is uncertain for each and every business unit. Therefore,
to forecasting tools help to the company which can identify and evaluate of potential risk in
advance. A firm's ability to forecast and anticipate various changing trends are critical for the
organization. Apart from that past data can be helpful for the business unit to predict potential
future events in appropriate strategic planning. These techniques can help to identify and analyse
these impact on business operations (Chaudhuri, Dayal and Narasayya, 2011). Forecasting also
essential for a company which protect of a firm from the potential financial losses due to various
external as well as the internal factors. In forecasting bank manger can uses the various tools and
techniques which can help to take the various decision. Strategic decision are related with higher
level which can give the direction of the company.
B
There are some business analytical tools that are used by various organizations. These
tools are used to identify and analyse the relevant information that is used to improve the
outcomes and performance of firm. Here are some business tools that are used in today's world
among which some of them, are as follows:
Business experiments- These experiments are used to test the validity of information. This is
basically used to make changes in one part of organization and after that, it is compare with other
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part where changes are not made. So it is more useful in comparison among the available options
for the business unit.
Visual analytics- There are many methods to analyse the data in different ways. Some simple
methods can sued by the management to make their decision and focus on the spotted pattern in
the graph. It is especially useful in the analysis of large amount of data (Elbashir, Collier and
Sutton, 2011). This tool is the combination of data analysis and human resource.
Correlation analysis- This technique is useful in analysing whether the relation between two
variables exists or not and the way in which these variables are related. If both variables fall in
same direction then there is positive relation between variables and if variables fall in opposite
direction then there is negative correlation. This is more useful when one has to make
assumptions about the relations between these variables.
Regression analysis- This tool is used for investigating the relationship between two variables
like link between demand and supply of a product. In this hypothesis made on the basis of
relationship between variables. If relation is strong then hypothesis become will true (Zeng and
at. el., 2010).
Scenario analysis- This tool is useful when the person has many alternatives and he has to
choose only one best solution about many. This method is also known as time horizon method.
In this many alternatives outcomes are present.
Time series analysis- In this method data is collected uniformly according to the piece rate
system. This is used when person has to forecast about future data on the basis of past
information.
Data mining- This tool is used to identify the data or to extract it from huge set of business. After
that, it identifies the patterns and relationship between the variables that can improve the
performance of organization (Wixom and at. el., 2014).
Text analytics- This is useful in extracting the text from large amount of text data so this is also
know as text mining. It can also be used in pattern recognition and information extraction.
Sentiment analysis- In this tool the person have to extract the sentiment or subjective data from
audio, video and text data. It is useful in identifying the behaviour and attitude of an individual
and also useful in knowing the opinion of the customers, competitors and employees.
Image analytics- Image analytics is used in extracting the information and their meaning from
the images. These images can be like photographs and medical images. This method in also
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based on pattern recognition and signal identification. This can also be useful in face recognition
technology for some security purpose.
Video analytics- Video analytics is also used in extracting the information from video. This can
be used for both the purposes like information extraction and can extract behaviour of an
individual. It is more useful to know about the presence of an individual who came to the store
(Jourdan,Rainer and Marshall, 2008).
Voice analytics- Is also known as speech analysis. In this method information is extracting from
the audio files. This can analyse the words and emotional content from the file. These can be
used in identifying the customers issues.
Linear programming- This is used in identifying the best result on the basis of linear
programming models. These models can solve the problems of maximizing and minimizing the
profits and costs simultaneously.
Factor analysis- This method in used in the organization for data reduction and structure
detection. This can decrease the number of variables in data and make it more useful for the
company. This can also be useful in analyse the interrelationship between variables (Trkman and
at. el., 2010).
ASSIGNMENT 2
A
It is important for the higher authorities of Standard Chartered bank to use these
information and data to increase the performance and efficiency. Business intelligence is ability
to convert the data and information in to the appropriate knowledge. It helps to create an
strategic information system which can support strategic decisions. The various tools and
techniques of business intelligence and analysts of business entity (Ranjan, 2009). There are the
following tools which can use by the manager of Standard Chartered bank:
Executive Scorecards and Dashboards: The operational and tactical performance of the
company are essential for the future growth of the firm. There are various data financial data
regarding their daily operations like total cash deposit by the customers, data regarding the credit
facilities, and other financial performance of the department as well as the individual staff. It
helps to the manager of the company to improve the company performance on a daily basis. The
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senior management of the organization can check individual performance. So that they can attain
there organizational goals and objective.
Ad-hoc Reporting: There are various information and data which can use at the tactical and
operational level. For example bank requires various financial statements to analyses their
performance. These reports have pre set format, where the data can be change over a period of
time (Popovič, Coelho and Jaklič, 2009). The company also make their annul report for their
stakeholders to show their annual performance to them. This reports having a set format, where
the information can refreshing by the manager of the bank. Therefore these tools are help to the
each and every member of the company which can easily prepare a report. It can leads to
efficiency at the workplace.
Operational Reporting: It is one of the important tool of business intelligence and analyses
which can help to knowing the real time information regarding their job. These report playing a
significant role in the banking system. Because there are various daily reports which can require
to take decisions on a daily basis. The operations manager of the bank can carried out the various
task like administrative and accounting duties. In order to perform their job efficiently these tools
can help to make their reports like daily sales, cash, credit and other information (Ranjan, 2008).
Business experiments: There are different business analyst and experts can use these tools to
analyses the profitability and performance of the company on a regular basis. So that if any
improvement in business can required. It can be implemented and improve their products and
services. Bank can be launch a wide range of products and services to its customers. But before
they are going to introduced at the larger scale. First it can be experimented by the company in a
small market segment. And getting the feedback form its customers which can help to improve
their products and services. These feedback can be easily analyses and evaluated by these experts
with the help of business analyses approaches.
Data mining: There a large number of data and information which can be stored and maintained
by the bank. These information are valuable for these bank point of view. It is impossible to store
and managed without an effective information system (Watson, 2009). The business analyst tools
can help to managed and control all these data and easily identified by the manager which help to
take the important decision making. There are various task which can be done by the bank
manger like risk management, portfolio management, trading, customer profiling and customer
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care, where data mining techniques can be used in banks and other financial institutions to
enhance their business performance.
Factor analyses: It is another significant tool of analyses of business. As we know that there are
various factors which can affects the business operation. There are two types of factors which
involved micro and macro factors. These factors also known as internal and external factors.
Internal factors can be controllable for the firm, but external factors are beyond the control.
Therefore manager of the bank requires to make their information system more effective which
so that they can easily make their decisions (Turban, Shardaand and Delen, 2011).
Scenario analysis: This tools can help to the company to choose an appropriate alternatives in
the from different alternatives. These tools can also help tom make the strategies at the higher
level. It is a process which can use by the bank manger to identify and analyses the future events.
So that it can help to protect from a possible future outcomes.
B
There are different management strategies which can be sued by the company at the
different level. It helps to make an effective business intelligence and business analytics system
in to company. It can give the competitive advantage to the firm over its rival organizations.
There are the following strategies which can be used by Standard Chartered bank:
Assess the current situation: It is too important for a company to analyses the current business
intelligence and organizational structure to implement of BI. In this strategies the IT experts and
the business analysts must be involved (Brown, 2007). Because they have expertise in their areas
which can help to make an appropriate strategies at the higher level. It can help to get the
strategic superiority over its rival firms.
Develop a plan for data storage: Data and information storage and management have great
significant for each and every business unit. There are various sophisticated informations which
are related to the the customers, products, product development, marketing plan etc. it requires
an effective and secure storage system which can protect these information from outsiders. On
the other hand in banking organization, there are large number of financial data can be stored in
the system. These information can be used for the different levels like strategic level, operational
level and tactical level (Laursen, and Thorlund, 2010). An effective system can provide an
appropriate system to the firm which can leads to the efficiency in the operations. Traditional
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data warehousing means duplicating data, which means bringing in operations systems in real
time will be next to impossible.
Understand what users need: The higher authorities can take the strategic decisions which
directly effects the long term strategies and business plan of the bank. On the other hand tactical
and operational decision can be taken by the middle and lower level of authorities. They requires
a large number of information to perform their task (Chiang, Goes and Stohr, 2012). The
business intelligence tools can provide a system which can solve the complex problem in shorter
period of time.
Decide whether to buy and build the analytical data model: It is another important strategies for
the bank. To manage the pool of information required an appropriate approach which can help to
take the strategies advantages over its competitors. Manger of the bank requires that to take the
decision regarding an analytical data model for their system. If the company having their own
experts it can be easy to build in the company only, but if the cost of development are more as
compare to buying outside. It is good for the company to buy these models from outside vendors.
Before installed it into the entire organization, it can be testing in any department of the
company. And getting the feedback form their staff, make the improvement and fixed into the
entire firms (Lim, Chen and Chen, 2013). It is also important for the manager to review and
upgrade the system over a period of time which can give the competitive advantages to the firm.
Consider all business intelligence elements: There are various factors which can affects the
success of business intelligence in the organization. These factors includes integrated data,
quality of data, data modelling, knowledge management, matrices management, metadata etc. an
effective architecture of information system can overcome these factors and increase the
efficiency of a business operations.
Therefore manger of the bank requires that to make an appropriate plan and strategies which can
support the strategic information system for the company. The strategies which can select by the
firm make sure the review in the overall process of the system and system up-gradation. So that
they can attain their long term and short term goals of the company (Chaudhuri, Dayal and
Narasayya, 2011).
CONCLUSION
As per the above mentioned report it has been concluded that strategic information
system are essential for each business entity. Business intelligence tools can be used by a
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company to take completive advantage in the market. Additionally, it included that, the business
intelligence and analysts of Standard bank. It can help to attain the goal and objective efficient.
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REFERENCES
Books and Journals
Turban, E., Sharda, R. and Delen, D., 2011. Decision support and business intelligence systems.
Pearson Education India.
Brown, M.G., 2007. Beyond the balanced scorecard: Improving business intelligence with
analytics. CRC Press.
Laursen, G. and Thorlund, J., 2010. Business analytics for managers: Taking business
intelligence beyond reporting. Vol. 40. John Wiley & Sons.
Chiang, R.H., Goes, P. and Stohr, E.A., 2012. Business intelligence and analytics education, and
program development: A unique opportunity for the information systems discipline.
ACM Transactions on Management Information Systems (TMIS). 3(3). p.12.
Lim, E.P., Chen, H. and Chen, G., 2013. Business intelligence and analytics: Research directions.
ACM Transactions on Management Information Systems (TMIS). 3(4). p.17.
Chaudhuri, S., Dayal, U. and Narasayya, V., 2011. An overview of business intelligence
technology. Communications of the ACM. 54(8). pp.88-98.
Elbashir, M.Z., Collier, P.A. and Sutton, S.G., 2011. The role of organizational absorptive
capacity in strategic use of business intelligence to support integrated management
control systems. The Accounting Review. 86(1). pp.155-184.
Zeng, D., and at. el., 2010. Social media analytics and intelligence. IEEE Intelligent Systems.
25(6). pp.13-16.
Wixom, B., and at. el., 2014. The current state of business intelligence in academia: The arrival
of big data.Communications of the Association for Information Systems. 34(1). p.1.
Jourdan, Z., Rainer, R.K. and Marshall, T.E., 2008. Business intelligence: An analysis of the
literature 1. Information Systems Management. 25(2). pp.121-131.
Trkman, P., and at. el., 2010. The impact of business analytics on supply chain performance.
Decision Support Systems. 49(3). pp.318-327.
Ranjan, J., 2009. Business intelligence: Concepts, components, techniques and benefits. Journal
of Theoretical and Applied Information Technology. 9(1). pp.60-70.
Popovič, A., Coelho, P.S. and Jaklič, J., 2009. The impact of business intelligence system
maturity on information quality. Information research.14(4).
Ranjan, J., 2008. Business justification with business intelligence. Vine. 38(4). pp.461-475.
Watson, H.J., 2009. Tutorial: Business intelligence-Past, present, and future. Communications of
the Association for Information Systems. 25(1). p.39.
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Best Business Intelligence Tools: Top BI Software to Help You Analyze Data to Make Smarter
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