Importance of business intelligence decision making in corporate America
Business intelligence can be used to refer to computer software and tools that can be used to collect all forms of business data and use the collected data to generate reports (Chaudhuri et al 2011). In several cases the collected data can be focused on a specific department or the data can give an overall view of the company`s status. There are companies that have huge loads of data, this type of companies are the biggest gainers of business intelligence (Chaudhuri et al 2011). The number of companies using it is still small but with the use of business intelligence companies are able to identify ...view middle of the document...
This system is a valuable system to a company`s sales force because it gives the company access to real time reports identifying the trends, additions, product improvement, unexplored market and customer preference (Chang et al 2006). The system also has detailed and current data that can be used as backup to negotiations with the vendors and even suppliers (Chang et al 2006).
The business intelligence system if used in a corporate system helps in eliminating wastes (Michalewicz et al 2006). A business intelligence system can always be used to point out areas the company is losing or wasting resources, this are losses that without the use of the system it may go unnoticed in a large organization (Michalewicz et al 2006). Given that then business intelligence system works as a single unit, it is able to handle and analyze the transactions between the departments hence identifying where there is an overlap and inefficiency (Michalewicz et al 2006).
Business intelligence can be also important in decision making in corporate America given that it identifies opportunities for the company using it. With the use of business intelligence, organizations can be able to assess its capabilities (Michalewicz et al 2006). With this ability it means that companies can compare its weaknesses and strength against the competitors. The company or organization is also in a position to identify the trends in the market and even the conditions enabling then to...