The Business Intelligence and Data Analytics

Case Study – Port of Antwerp
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Program Name or Degree Name (e.g., Master of Science in Nursing), Walden University
COURSE XXX: Title of Course
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Month XX, 202X
Business Intelligence and Data Analytics Concepts
Technology is undoubtedly an essential transformer of business operations. Modern concepts like Business Intelligence (BI) and Data Analytics have transformed organizational decision-making and operational processes resulting in increased efficiency and accuracy. The current paper is a description of the two concepts and their practical application.
Description of Concept
Business intelligence refers to the combination of resources, processes, and strategy that helps organizations make data-driven decisions (El-Adaileh & Foster, 2019). It encompasses concepts like data mining, business analytics, tools, infrastructure, and best practices to revive useful information from organizational and consumer data. The essential components of BI include expertise (human resource), data hardware, business performance management, user interfaces, and data analytics. Data analytics refers to the science of systematic analysis of data to produce informative conclusions from the data. In manufacturing, for instance, organizations keep track of the runtime, downtime, and work queue data for every stage of the manufacturing process. Such data is analyzed to shape decisions on the efficient distribution of workloads for optimal and efficient utilization of resources. Therefore, data analytics is a crucial pillar of business intelligence.
BI Under a Balanced Scorecard (BSC)
Before an organization can integrate business intelligence, there must be an understanding of how the integration will complement the corporate values. Therefore, business managers must understand the balanced scorecard while aiming to improve profitability, reduce risks, increase productivity, and build data trust (Kopecka, 2015, p. 64). The BSC has four core dimensions in which BI can be analyzed before adoption.
Financial Perspective
Business Intelligence has both financial implications and benefits for an organization. Organizations must invest in the necessary data collection, storage, analysis, and presentation equipment, software, and expertise in the short term. Expertise may include hiring new employees and (or) training the current employees. Since the aim is to transform processes and increase efficiency, the organization will benefit long-term.
Customers
Organizations must also consider how business intelligence affects customer relations. Business intelligence enables informed decisions based on consumer preferences and behavior. How the business gets such data should not violate the rights of customers. Because BI increases efficiency, it seeks to develop good relations with customers to support business growth.
Learning and Growth
In terms of learning and growth, organizations must continuously train employees on these concepts because the concepts are changing based on technological changes. Therefore, an organization must develop critical skills and knowledge and establish proper knowledge management systems. These skills are necessary because they transform raw data into...