Business intelligence application essay

Tuesday, 23 June 2015.

Business Intelligence application

Define the business dimension

Business analysts are a set of methods, theories, and technologies used by businesses to transform large volumes of raw data into meaningful and useful information for business improvement. The business analysis is primarily performed through a variety of software applications. Some activities included in business intelligence:

  • Interactively analytical processing
  • Multidimensional aggregation of information and allocation
  • Optimize key performance indicators
  • Statistical conclusion
  • Budgets and forecasting
  • Process Management
  • Group consolidation
  • The control of the public element
  • Business analyst
  • Handling complex events
  • Predictable and prescriptive dimension
  • Interactively analytical processing
  • Business Intelligence application

    Business analysts are currently used by several well-known companies, including several supermarket chains, restaurant chains, and even professional sports teams. These companies have successfully used business intelligence software as follows:

  • Use measurement programs that create history and performance hierarchies. This shows management of what makes business on the way to achieving the set goals and objectives
  • Use of analytical programs to evaluate the performance of business in order to define the objectives and trends of the market. This helps business managers and executives make optimal decisions that can help business
  • Use the enterprise and software reporting software, such as data visualization and management information systems, to build the appropriate infrastructure for strategic reporting. This allows you to focus on and implement strategic business decisions, and effectively use strategic management
  • Use the collaboration program to get the perspectives of both internal and external business participants. This is done through electronic data interchange and data exchange. It helps business leaders take relevant data and ideas into account in decision-making
  • Use the knowledge management programme to promote practical strategic management and the introduction of ideas based on actual business knowledge. This helps business leaders to gain better managerial skills, and to act in accordance with regulatory practice
  • How to do business analytics

    Because each business is different, business analysts cannot be included as a universal measure. It requires technical planning and a specific focus on business goals. Not every business will be automatically successfully implemented by deploying the business intelligence software. Therefore, you need to consider the following criteria before starting any business analysts:

  • Before initiating business analysis information, it is very important to create a fixed and realistic sponsorship group for the project. This team should not only include business management, but also external sponsors with an authoritative business profile. In addition to financial support, the authors should set goals and closely monitor the business intelligence project
  • Business needs and goals. The business intelligence project should be initiated once the specific goals and objectives that need to be assessed or analyzed are established. It shouldn’t just be haphazardly started. Instead, before initiating the project for a specific purpose, a group should be established to identify the needs of the organization and market trends
  • Availability of relevant data. You need to profile your organization’s data before you start working with any business intelligence project. The data should always reflect the true picture of the organization. It must be saturated with, meaning and consistent. Without correct, high quality data, business intelligence cannot work
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