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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?


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 "" \t "_blank"
Davenport, T.H., & Harris, J. G. (2006) Competing with analytics.Harvard Business ...
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