Essay on Business intelligence

Submitted By Namhyung-Kwon
Words: 2290
Pages: 10
Open Document
1- What is Business Intelligence?
In a nutshell, Business Intelligence is the mastery of strategic information useful to economic actors.
Business intelligence essentially means understanding and learning what's happening in the world outside your business so you can be as competitive as possible. It means learning as much as possible - as soon as possible - about your industry in general, your competitors, or even your county's particular zoning rules. In short, it empowers you to anticipate and face challenges head on.
Intelligence: The US National Security Agency gives the following definition of "intelligence" in this context, it is "...knowledge and foreknowledge of the world... [that is] the prelude to...decision and action"1.
The term "foreknowledge" refers to the future and its evaluation relative to the present. The phrase "prelude to decision and action" focuses on the need to have some kind of system in place whose aim is to capture the value of the data gathered and its analysis that will lead to a business response.

1. The cycle of intelligence
The intelligence cycle is the process of developing unrefined data into polished intelligence for the use of policymakers. The intelligence cycle consists of six steps [Appendix 1]. The graphic below shows the circular nature of this process, although movement between the steps is fluid. Intelligence uncovered at one step may require going back to an earlier step before moving forward.
I. The first phase planning and direction – In this phase, decision maker should define the company's requirements in terms of what information is needed? Why is it needed? When is it due? It involves working with decision makers to discover their intelligence needs and then translating those needs into their specific intelligence requirements. (Ranjit Bose, 2008)
II. The collection activities include identification of all potential sources of information and then research and gather the right data legally and ethically from all available sources and put it in an ordered form. The analysis is a very important step – activities involve analyzing collected data and transferring it into useful information.in other words, it involves interpreting and translating the collected raw data into “actionable intelligence”. (Ranjit, 2008)
III. Analysis encompasses a systematic examination of relevant data, information, and knowledge collected, for applicability or significance, and the transformation of the results into actionable intelligence that will improve planning and decision making or will enable the development of strategies that offer a sustainable competitive advantage. (Ranjit, 2008)
IV. Dissemination – the report and inform from this phase is the finished product. Often, dissemination or communication of the findings takes the form of a report, a dashboard, or a meeting. These findings are used as inputs to conduct further analyses such as competitor profiling, scenario planning, and scenario analysis. The report will support the decision maker to make the final decision. (Ranjit Bose, 2008)
V. Feedback – This step is about evaluation and it is the final phase in the cycle. Feedback activities involve measuring the impact of the intelligence that was provided to the decision makers. For example, was it used? How – or why not? Did it result in making a deal? Did it save money? Did the result meet the objective? They therefore provide the analyst with important areas for continuous improvement or further investigation. (Ranjit Bose, 2008)
Appendix [1]

2. Business Intelligence: How to gather and analyses strategic information?
The analysis process is one of the key steps of the cycle of intelligence. It comes directly after the orientation and research steps, and aims to extract collected data, making sense of it. Analyzing information consists of several stages of processing and operations that ultimately produce intelligence. When
Show More

Related Documents: Essay on Business intelligence

Business Intelligence

world, which have a great insight to their own business as well as able to response well to external environment and market trends. In this article, it has explained how Business Intelligence (BI) provides insight to organization’s businesses as well as enables the organization to measure their success against their goals and against external forces. Business Intelligence is way to be a “Winner” in today’s world. Introduction Business intelligence (BI) can be defined as collection of people…

Words 1337 - Pages 6

Business Intelligence

Business Intelligence: Applications and technologies to help users make better business decisions. Chief Information officer: Senior manager in charge of the information systems function in the firm. Chief knowledge officer: Senior executive in charge of the organizations knowledge management program. Chief privacy officer: Responsible for ensuring the company complies with existing data privacy laws. Chief security officer: Heads a formal security function for the organization and is responsible…

Words 1561 - Pages 7

Mobile Business Intelligence

Mobile Business Intelligence Abstract The expansion of today’s technology has lead to the ability to now extend BI applications to handheld mobile devices such as tablets and mobile phones. With the current availability of mobile business intelligence applications companies can now data mine, create reports and analyse data all in real time. Mobile Business Intelligence empowers managers to be able to make decisions in real time by being able to process and create their reports remotely…

Words 5045 - Pages 21

Business Intelligence Essay

Business Intelligence HAVEN TILLAR SOUTHERN NEW HAMPSHIRE UNIVERSITY IT-500 Business Intelligence?  What is Business Intelligence?  Definition: Business Intelligence (BI) refers to skills, processes, technologies, applications and practices used to support decision making. (nexDimension, 2014)  A system that collects, integrates, analyses and presents business information to support better business decision making. *Reference: nexDimension. (2014). Retrieved from Business Intelligence:…

Words 296 - Pages 2

Business Intelligence Essay

Business Intelligence: Research Paper MIS 610 Christopher Bailey California State University, Bakersfield Table of Contents Title Page 1 Table of Contents 2 Introduction 3 Business Intelligence 4 Users 5 Data: Structured and Unstructured 6 Data Warehousing 7 OLAP 7 Business Intelligence Reporting Software 8 Business Analytics 9 Case Studies 10 Case 1: Multiple vendors, multiple contracts and limited line of sight into costs 10 Case 2: The Weather Channel 11 Conclusion 14 Bibliography…

Words 3748 - Pages 15

Business Intelligence Systems Essay

This report is an examination of the business intelligence systems offered to our company. Throughout this document I will discuss the overall general purpose of business intelligence systems and identify how the company can benefit from purchasing the software. In order to adequately discussion Business Intelligence (BI) one must first understand the meaning of this term. Business Intelligence Business Intelligence (BI) is defined by IBM as, “the discipline that combines services, applications…

Words 328 - Pages 2

Essay about Intelligence business

headaches of many organizations. Business Intelligence tools have become a crucial avenue for many logistics managers, being able to capture the exact meaning of numbers as well as be taking actions to boost supply chain efficiency and effectiveness. Business intelligence has a wide range of uses, such as applications, infrastructures, methodologies and more to analysis data such as sales revenue, products, costs, and incomes. One way businesses are embracing business intelligence is for their transportation…

Words 1038 - Pages 5

Business Intelligence For The Retail Industry

Business Intelligence for the Retail Industry: Actionable Insights for Business Decision Makers by Don Tapscott Brought to you by Business Objects (an SAP company), SAP and Intel. Business Intelligence for the Retail Industry: Actionable Insights for Business Decision Makers Executive Summary THE RETAIL SECTOR was one of the first sectors to make significant investments in collecting and integrating customer data in data warehouses. Retailers have generally earned a significant…

Words 4298 - Pages 18

Data Warehouse and Business Intelligence Essay

ERP 345 Business Intelligence Hw 1: Definition of Business Intelligence Search any resource (Books, Web Sites, Papers, etc.) to find three definitions for Business Intelligence. Include the detailed information (Title, authors and the source of the definitions. For example: “BI is … is an architecture and a collection of integrated operational as well as decision-support applications and database that provide the business community easy access to business data”. Business Intelligence…

Words 345 - Pages 2

Bachelor Thesis on Business Intelligence Essay

Quantitative Methods in Economics and Information Systems Specjalno´c: Methods of Decision Analysis s´ Forma studiów: stacjonarne Evaluation and comparison of Business Intelligence platforms as systems supporting decision-making in small and medium-sized companies in Poland Warszawa 2013 2 Abstract Business Intelligence (BI) systems are applications that are used to enhance decisionmaking in organizations. However, Small and Medium-sized Enterprises (SMEs) in Poland has only recently…

Words 11637 - Pages 47