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Managment information system - Research Paper Example

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Name: Instructor: Course: Date: Using Proper Business Intelligence In order to make rational and quick decisions in business, it is crucial to possess quality information. However, new technology comes at the risk of burdening decision making with inconsistent, inadequate, and irrelevant data…
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Download file to see previous pages However, it is possible for organizations to provide decision makers in management with raw data, which is automatically consolidated and processed. This data is given to them in a manner, which is understandable and easy to work on and these organizations are able to provide their decision makers with insightful information. These organizations utilize business intelligence processes and capabilities. This is a field of research, which is focused on the practical, in addition to, theoretical aspects, for organizations to achieve good information for them to make solid decisions. This research paper will seek to study this experience in, as well as how it helps organizations to shape data processes to get the correct information for quick and rational making of decisions. Objectives of the Research Study Find out what business intelligence is Find out the advantages that BI endows organizations with Find out the phases of implementation for business intelligence Find out the role of the Chief Information Officer in BI implementation Find out the best way to choose the tools of BI and the implementation partner Business Intelligence Business intelligence deals with the specific field of the processing and consolidation of data to retrieve information needed, for an organization, to make correct decisions. The main objective of this process is to give the correct knowledge, through various solutions, at the right time and to the right personnel ( 1). In order to do this, it is essential have the correct mix of data collection methods, structures of data, data architectures, IT systems, and responsibilities to give meaningful information. When it comes to key performance indicators, or KPI, business intelligence has an impact that is proven. For instance, Return on Equity, or ROE, climbs to twice as high as it is in organizations that use tools for performance management widely as compared to organizations in the same industry that do not use them. In addition, over 60% of executive managers have said that using tools for performance management has a positive impact on the value for shareholders ( 1). When most of the companies studied are assessing their business intelligence capabilities, they consider four levels. The first level is reporting, which is a core functionality of tools used in business intelligence, especially since its objective has to do with the creation of standard and recurrent reports in a manner that is user friendly, effective, and efficient ( 1). By nature, reports are static and predefined and are generated through an end user request or periodic refreshing via automatic schedulers that can be uploaded on servers in the intranet or shared drives that are accessible to corporate users. The department’s key functionality, therefore, is reduced to consolidation and aggregation of data in an ideally automated and repetitive approach from sources of data that are trusted. The second level for the organizations is dashboards, which contain aggregated and high level strategic organizational data that is also inclusive of consolidated performance indicators and comparable presentations ( 1). They are inclusive of interactive and static reports with the data being translated into illustrations, gauges, charts, and graphics to make communication simpler with regards to complex topics. The dashboards allow for primary interactions and ...Download file to see next pages Read More
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