Significance of Implementing Business Intelligence in Decision-Making Process - Research Proposal Example

Title: Study on the significance of implementing Business Intelligence in Decision Making process Name Institution Supervisor’s name Introduction For over the last twenty years, organizations and other business entities have underwent a revolution in the data and information management and use. Experts and analysis in this field observe that management and organization decisions-making procedure to be in changing to data/information-driven approach from the previously known art approach (Dresner, 2008) Many elements have led to this situation. The chief contributors to this phenomenon are the development of organizational information systems and information technology (IT). Some of the technological advancement that promotes this modernisation includes the transaction and accounting systems, customer relationship management (CRM) and enterprise resource planning (ERP). Information Technology found in all modern organizations and workplaces. This therefore means that organizations can access enormous amount of information and data including but not limited to consumer behaviour, financial calculations, sales, economic trends, efficiency measures, demographics and many more (Dresner, 2008) Business intelligence contributed a lot to this change, as a result of development of systems, tools and methods that made it easier to collect, store and analyse this enormous amount of information and data is known as business intelligence systems and applications (Moss & Atre, 2003) Business intelligence and information technology has offered business and organizations great capacity to collect, store and analyse data in scientific and systematic way in management. It is now very easy for businesses and organizations to systematically collect first-hand information and data over a period of time for testing hypothesis or analysis and eventually gain insight by making close observations. Business intelligence has not only become very popular in organizations but also become acceptable as it is rooted in the scientific methods (Moss & Atre, 2003) Statement of the problem Various organizations are faced with many tasks in their everyday activities. These organizations and business ventures usually come across challenges in the efficiency of utilization of the available data and information at their disposal. These challenges come from the various departments that deals with financial, warehouse and sales (Carter, Ulrich & Goldsmith, 2005) Data management and use in corporate world is very crucial for the success and achievement of set goals and objectives through making crucial decisions especially by the management. In the current world, data in every organization and business world has been on the increase and will continue to increase. Utilization of these data and its analysis needs a lot of care. Failure to manage has the potential to cause devastating effect. Latest management tools need to be used to aid in analysis to aid in making of correct and informed decisions needs the support of useful and comprehensive information which the out-dated and traditional systems can’t produce (Carter, Ulrich & Goldsmith, 2005) Objectives of the study The goals of this research study are: 1. To find out how business intelligence help the management in making smart decisions for their cooperate organizations 2. To find out how business intelligence tools offer technical support to decision-makers 3. To find out the contribution of business intelligence though value-addition in support of information The study will also contribute literature, knowledge and business intelligence practice by examining the contribution of business intelligence in the decision-making in successful organizations and businesses Scope and limitations of the study The study will target Coca Cola Company in the United States. It is meant to determine the significance of business intelligence in the company decision making process Some of the limitations and constraints likely to be encountered finding enough time to get all the relevant data and information that will give the true picture of business intelligence in practice Importance/significance of the study The business intelligence concentrates on the advancement and utilisation of business intelligence, business intelligence systems and other relevant processes within the organization. Normally, the development and utilization of business intelligence show two distinct research areas that are unique to certain extend. The aim of this research is to back up the existing body of knowledge relating to business intelligence and more precisely to business intelligence information relating to the utilization of business intelligence in decision-making process. This research in concerned with the study of business intelligence from the view of decision-makers and not from the view of the analyst or the developers of business intelligence processes and systems This research needs a careful research design as a result of the utilization of business intelligence while making organizational decisions as it a complex relationship between the two. This research aims to: i. Back up the practice by coming up with an normative or artefact proposition ii. Comprehend the topic or the problem being studied by engaging in interpretations of practice iii. Promote the BI practice trough involvement in certain situations The above research goals appears to be separate goals but can be enjoined together in many situations This research study will focus on how business intelligence helps organizations in making decisions. This research therefore is concerned about with the understanding the processes organizations go through in meeting of the organizations’ overall goals. Despite the key attention on comprehending the phenomenon, the general goal is that engages other objectives backing up and improving the business intelligence practise Definition of terms Business intelligence: it is the process of analysing data and information using technology whose goal is to improve organizations and firm performance by aiding company executives and other staffs together with other end users make informed decisions Information technology: term used to describe all forms of technology that is useful in the creation, storage, share and the utilisation of information and data in many forms. These forms include multimedia presentations, still images, business data, motion pictures, voice conversations among others. It works by use of computer technology and telephony Review of related studies According to Pirttimäki & Lönnqvist, (2006) business intelligence involves having pertinent knowledge and information giving an account of the business environment, the company itself, and the position in relation to its competitors, clients and economic matters. It allows the organizations to obtain, synthesize and share information both within and outside the organization. The information should be of important not only for business activities but also aid in the decision making (Approaches, 2014) According to, Reynolds, Anderson, Hoffer, Watson Lehman, &, Wixom (2006), business intelligence boosts cash flows at the same time leads to lowering of operation costs and hence give 1000 per cent on return on investment (Approaches, 2014) According to Kemper & Baars (2008) business intelligence is an infrastructure that provides an all-inclusive decision support that not only handles but also refine and synthesize unstructured information and data (Approaches, 2014) According to Thomsen (2002) and Smith & Berson (1997) BI is an analysis framework generate an automated decision-making in the areas regarding business status, product preference and demand by customer as well as analysis. The BI helps the organization in making decision due to ability to manage large database system alongside data mining, statistical, mathematical, on-line analysis processing and artificial intelligence (Approaches, 2014) Methodology This research is meant to develop a deep understanding on how successful organization and big business companies use business intelligence strategies in their making their informed decisions. The study will source data and information verified number of papers, reviews, websites and journals which has been published depicting successful implementation of business intelligence. The search will also rely on secondary data whose analysis and proper documentation has been done rather than finding from individual people. Focus group discussion will employed Research design The research will employ focus group to gather information regarding business intelligence. The focus group of this study will consist of 6 participants. The rationale of using 8 individuals is that participants will have enough time and space for the discussion. Two of the members of the groups will have specialized knowledge of observation and extracting additional information from the target individuals during the discussion. Also, the method can do well with limited manpower and finance. However, moderators are expected to have good knowledge of observation and note taking in order to capture comprehensive data on circumstances, attitudes and opinions. Respondents of the study The study will target medium to top managers and decision-makers in and technicians in the selected company Research instrument The research will employ focus group discussions and use of secondary data as source of information for the research Data gathering procedure The research will organize a session for focus group. Recording instrument will be put in place to record the whole process. Gathering of relevant journals, publications and other sources will take place. The secondary sources will be verified to be valid Reliability and validity of the instrument Affluent information that shows the utilization of business intelligence will be sought. The research will company periodicals, journals, websites and any articles that give insight of business intelligence will be used. The limitation public record data collection process is that the researcher will need to investigate the methodology that the secondary method used to collect data. Therefore, a lot of questions may rise on the reliability of the secondary source Statistical tool analysis The results of the research will be presented in percentage after thorough descriptive analysis of data collected has been conducted. Use of pie charts and bar graphs will also be used References Approaches, R. (2014). Review Study: Business Intelligence Concepts and Approaches. Academia.edu. Retrieved 29 November 2014, from https://www.academia.edu/9182937/Review_Study_Business_Intelligence_Concepts_and_Approaches Carter, L., Ulrich, D., & Goldsmith, M. (2005). Best practices in leadership development and organization change. San Francisco: Pfeiffer. Dresner, H. (2008). The performance management revolution. Hoboken, N.J.: John Wiley & Sons. Moss, L., & Atre, S. (2003). Business intelligence roadmap. Boston, MA: Addison-Wesley. Read More