PAKISTAN BUSINESS REVIEW - Institute of Business Management

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Business Intelligence: A New Dimension to Business Market Report BUSINESS INTELLIGENCE: A NEW DIMENSION TO BUSINESS Abstract Azimuddin Khan Karunesh Saxena Faculty of Management Studies M L Sukhadia University, Udaipur (India). Due to numerous factors such as global competition, technological breakthroughs, changing regulatory requirements, customer expectation, structural changes, environmental concerns and also the impact of economic recession, business organizations are compelled to reshape and restructure their business processes. Due to the fiercely competitive environment and also high stakes of making wrong decision, it has become inevitable to design and implement Business Intelligence solutions which proved to be immensely beneficial in decision making. An attempt has been made in this paper to develop the conceptual framework pertaining to Business Intelligence and also to discuss its application, decision making as well as to analyze its significance in creating business value. Keywords: Business Intelligence, Data Warehouse, ETL, Dashboard, Reporting and Querying. JEL Classification: A19, D78, D79, O29 PAKISTAN BUSINESS REVIEW JULY 2011 394
Market Report Business Intelligence: A New Dimension to Business 1. Introduction Today, organizations have lots of data and available systems but they are not effective at turning all that data into useful strategic information. Over the past two decades, companies have gathered tons and tons of data about their operation. Information is said to double every 18 months. Most organizations are faced with information crises because the available data is not readily usable for strategic decision making. These large quantities of data are very useful and good for running the business operations, but hardly acquiescent for use in making decisions about business strategies and objectives. This happens due to spread of data across many types of incompatible structures and systems. Sales and marketing data is lying with newly developed systems whereas financial and accounting data be kept with old legacy systems, while material and inventory data is collected through client server application. Another problem which exists with data is that available operational data cannot be readily used to spot trends. Operational data is event driven. The data in organizations resides in various disparate systems, multiple platforms, and diverse structures. For proper decision making on overall corporate strategies and objectives, the organization has to integrate information from all the systems. Managers should be in a position to review the sales by product, sales person, district, region, and customer group. 2. Concept of Business Intelligence (BI) Business Intelligence is the process of getting information about the business from available data sources. These systems are essential for organizations to keep track of their affairs. Data becomes information when you can use it to answer business questions, so you can understand business better. Business Intelligence allows you to answer the questions, so that executives and managers at all levels can respond quickly to changes in the business. 395 PAKISTAN BUSINESS REVIEW JULY 2011
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PBR ISSN 1561-8706 PAKISTAN BUSINES
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