PAKISTAN BUSINESS REVIEW - Institute of Business Management

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Business Intelligence: A New Dimension to Business Market Report A structured approach should be used to capture the business value of BI investments by implementing business intelligence best practices, involvement of top level executive and IT department, support of finance, engagement of end users, strategic alignment and business process engineering, change management and encouraging the data through out the organization More and more organizations are now implementing business intelligence in their IT setup. With the increase in demand of BI, a lot of research is being done to provide ease of use with reduction of cost for its deployment. New initiatives such as Master Data Management, Customer Data Integration, Business Process Management and Service Oriented Architecture, Software as a Service, and Decision Services will enhance BI usage business intelligence market; Software as a Service (SaaS) BI is gaining momentum in small and mid size organization which reduces the cost, complexity, and economies on IT resources and time requirement to implement. Instead of purchasing and implementing BI solutions, organizations are taking services from vendors through secure internet connection. With the implementation of business intelligence solution, organization can generate actionable information by utilizing various analytics. Dashboard and Scorecard are the best tools to visualize the organizations performance. Business intelligence usage increases the business value in terms of efficiency, cost reduction, margins, profits and customer satisfaction. PAKISTAN BUSINESS REVIEW JULY 2011 408
Market Report Business Intelligence: A New Dimension to Business References: Devenport Thomas H. and Harris Jeanne G, 2007, Competing on Analytics: The New Science of Winning, Harvard Business School Press, 2007, p. 155. Mike Steadman, 2003, Practical Business Intelligence for Associations & Non Profit Organizations, p. 1-6. Colin White, 2009, The Evolution of Real-Time Business Intelligence, Gravic Inc, p. 12. Gartner, 2010, RAS Core Research Note G00173700 by Joseph Feiman and Neil MacDonald. Khan Azimuddin and Saxena Karunesh, 2010, Business Intelligence: How to make Organisations Agile, Indian Management Journal, 49(10). Inmon, W.H., 1995, What is a Data Warehouse?, Prism Solutions, Volume 1. Kimball, Ralph and Ross, Margy, 2002, The Data Warehouse Toolkit, John Wiley and Sons Inc., Second Edition, p. 16. Few, Stephen, 2006, Information Dashboard Design: The Effective Visual Communication of Data, O’Reilly Media, p. 2-8. Schiff, Craig, 2007, Fact vs. Fiction in Performance Management, Business Intelligence Network, http://www.b-eye-network.com/ view/4452, May 16. http://en.wikipedia.org/wiki/Predictive_analytics accessed on August 10, 2010. Business Objects, 2008, Query as Web Service, A SAP Company, 2008, p. 2. 409 PAKISTAN BUSINESS REVIEW JULY 2011
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