Business Intelligence and Analytics for Operational Efficiency
5 Pages Posted: 2 May 2018
Date Written: April 16, 2018
Typically, business organizations hardly find proper information, processes, and tools need to make responsive decisions at all levels of their organizations. Organizations lack clear visibility and insights into the fundamental business situations even after spending heavily on technology, people skills and consultancy. Organizations continuously misunderstand the true story behind the numbers that is a reality that translates directly into a growing number of financial restatements and serious strategic missteps. Despite a generation of investment and efforts, financial analysis and reporting often lack the true standard. The reason might be attributed by the idea of leveraging business intelligence. This is primarily due to lack of awareness about the power of Business Intelligence and Analytics (BIA). The fact is that BIA should be an integral component of every operation of every business as it helps to identify its most profitable customers, trouble spots within the organization, and the return on investment for certain products or services. Hence, BIA is highly demanded by the organizations as it seeks to improve business outcomes, customer relationships, and operational efficiency by using information.
Keywords: Business Intelligence, Business Analytics, Big Data, United Information Access, Decision Management
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