BI Assignment 3 Stephen Dickinson .docx - BI Assignment 3 Stephen Callaghan – U10428647 Part 1 For any business to grow or even survive in the current

BI Assignment 3 Stephen Dickinson .docx - BI Assignment 3...

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BI Assignment 3 Stephen Callaghan – U10428647 Part 1 For any business to grow or even survive in the current market, it needs information. It needs the information on what it is doing right, probably more important is, what it is doing wrong and why, its market share (as can be best assessed), its costs, its profits and its potential growth areas. This is where business intelligence software comes in to play. With the right tools, a business can review all of these areas at the touch of a button, make scenario changes to see what the potential outcome to those changes would be, monitor the current business systems in place and look for any potential saving areas, monitor performance and many other key markers within the business. The first part of this that any business must get right, is the data that is to be used. There is no point in overloading a BI tool with redundant or useless information, you wouldn’t for example load a BI performance monitoring system with the number of times an employee uses the bathroom in the day, this is useless information, as the system can’t allow for people being ill. This would be something that a line manager would deal with. But, by the same token you wouldn’t ignore a single step business process from the BI system, something as simple as loading cardboard into an auto box folding machine, and then finding out several steps down the line that the whole process keeps coming to a halt because that single step business process keeps failing. It is a matter of keeping the information relevant. To the same extent, a business also needs to choose the right BI tools. Excel is a great spreadsheet that has evolved over the last 10 years into a pwerful BI tool with the right add on software. This would be the starting point for any business, be they small or multi-national. To some level, most business that use excel have already been using it for BI purposes without realising. When excel is used for inventory, or time sheets, or daily production, this is all BI. Even more so, when it is used to display some form of comparison on previous data. It is when companies are more complex, that the need for more specialised BI tools becomes apparent.
Image of page 1 conducted a survey of 2600 business intelligence users, who were asked to respond to a list of potential benefits of BI, and to what level the business had achieved those benefits. As can be seen from the image, the top priority for most of the surveyed companies was speed of reporting, analysis or planning – the key areas of planning for any business. BI tools like SiSense, Looker, datapine and Yellowfin have been used by companies across the globe to perform data gathering, analysis and presentation to allow the businesses to grow and maintain their market share and profitability.
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