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Essay / Effectiveness of Business Intelligence tools for...
IntroductionIndividuals and organizations in today's information society have at their disposal a large quantity of data whose potential has not been fully exploited. With the increasing availability of data, it becomes necessary to organize it and extract knowledge from it. Data is accumulated in different formats and databases, which are usually not connected to each other, thus leading to inefficient use of valuable information. Contemporary organizations are therefore looking for opportunities to improve decision-making. With different people participating in decision making, the scope of particular decisions is in many cases global in nature (Olszak and Ziemba, 2006). There is therefore a great need for tools that can analyze the increased availability of data and improve coordination in the exchange of information. Business Intelligence is the name given to the set of tools that process a mass of operational data and extract business information capable of supporting strategic and tactical decision-making processes to enable the achievement and maintenance of a competitive advantage for the organization. The aim of the report is to study the effectiveness of Business Intelligence tools in assisting decision-making. This will first be done by defining business intelligence and its tools. The second chapter will analyze business intelligence and its role in the decision-making process. The third chapter will examine the role of data mining – BI tool, for decision-making. The fourth chapter will analyze the effectiveness of data mining using the case study. In particular, it will examine the effectiveness of data mining for decision making in the retail sector.1. Business Intelligence...... middle of paper ......mation, knowledge and management. Vol.10, on http://ijikm.org/Volume1/IJIKMv1p047-058Olszak19.pdfPetrini M., Pozzebon M., “Managing sustainability with the support of business intelligence: integrating socio-environmental indicators and organizational context” Journal of Strategic Information Systems 18 (2009) 178 191 2009, at: http://portal.acm.org/citation.cfm?id=1664085Ritacco M., Carver A., (2004)The commercial value of Business Intelligence: A Framework for Measuring Benefits of Business Intelligence, Business ObjectsStake, ER (1995) The Art of Case Study Research. SAGE Publications: Thousand Oaks. Tapscott D., (2008) Business Intelligence for Consumer Packaged Goods: Actionable Insights for Business Decision Makers, New Paradigm Learning Corporation Yin, KR (1994) Case study: design and methods. 2nd edition. SAGE: Thousand Oaks.