Is there such a thing as "business intelligence"? (Essay Sample)
Business Intelligence—Yeah, Right! Is there such a thing as "business intelligence"? Can some people view business concepts better than others and make "better" business decisions than others? Or is it just luck when business decisions turn out to be correct?source..
Business Intelligence—Yeah, Right!
Is there such a thing as "business intelligence?"
With the advancement of IT software companies, campaigns describe their products as being business intelligent. The assumption is that when you buy this software, a business automatically has the capacity to gather intelligent to run the business. In reality, the software simply helps gather data to the business but does not create information (Staples, 2009). Most companies make mistakes by equating data to information. Business intelligence requires analytics; analytics, in this case, means looking outside the current data limitation for appropriate answers. When we separate data from the information, we become business intelligent (Samild, 2011)
Being analytical means pulling ahead of the pack by becoming an analytical competitor. Businesses use sophisticated technology to conduct analysis that adds value to the business process. Being analytical concerns several features about customers including how much they are willing to pay and what keeps them loyal .To be an analytical competitor in business requires data collection and analytical activities to be in a single system under common leadership using common tools. This process facilitates data sharing to avoid data inconsistent reporting. Being analytical means looking beyond data and statistic; companies identify profitable customers from a pool of data generated looking from outside and inside sources to understand their customer (Davenport, & Harris, 2006)
Analytics companies like Amazon and Marriott stand out because they apply technology with other appropriate features to solve multiple business problems. They further direct their energies to finding the right focus build the right culture and hire the right people eventually making optimal use of the data making them constantly in the lead. Companies should pursue strategies that are shaped by analytics this is because all companies identified and leading competitors attribute much of their success to exploit strategically data analytically (Davenport & Harris, 2006).
Samild, S. (2011) Tom Davenport: Why aren’t most organisations competing on analytics? Analyst First. Retrieved December 2, 2011, from HYPERLINK "http://analystfirst.com/2011/09/02/1001/tom-davenport-why-aren%E2%80%99t-most-organisations-competing-on-analytics/" \t "_blank"http://analystfirst.com/2011/09/02/1001/tom-davenport-why-aren%E2%80%99t-most-organisations-competing-on-analytics/
Davenport, T.H., & Harris, J. G. (2006) Competing with analytics.Harvard Business ...
YOU MAY ALSO LIKE
- Scientific Essays
- Human rights Essays
- Career Essays
- A rose for emily Essays
- Personal experiences Essays
- Things fall apart Essays
- Abraham lincoln Essays
- Heart of darkness Essays
- Suicide Essays
- Fast food Essays
- Short story Essays
- French revolution Essays
- High school Essays
- Standardized testing Essays
- Marijuana Essays
- Brave new world Essays
You Might Also Like Other Topics Related to emotional intelligence:
- Discussion-Business IntelligenceDescription: A business intelligence system is a set of tools and processes that helps businesses make decisions that need a lot of critical, technical and professional analysis...1 page/≈275 words | 2 Sources | APA | Technology | Essay |
- Blue-Collar BrillianceDescription: People often pay tribute to blue-collar workers by praising their dignity or physical stamina. But according to Rose, people rarely celebrate the intellect of the blue-collar workers...2 pages/≈550 words | No Sources | MLA | Literature & Language | Essay |
- Cross Cultural DifferencesDescription: Culture is a vital aspect in the society. Most people are brought up in a certain setting of values and norms that they follow throughout their lives...2 pages/≈550 words | 4 Sources | APA | Business & Marketing | Research Paper |