Write 7 pages with APA style on Business Intelligence. They did their best for their business to be competitive among market. However, they are running their business on website and have other small databases handling small different departments of organizations. moreover, giving best at their marketing department but though that is not enough to compete business in this technical world of computers. In other words, IT world has change the way to trade. the way of in-house management and the way to sale their production.
The CEO, Mr. Peter Rada of Teen_R_Us concede this when he attended industry conference where business intelligence was discussed. He was keen to implement Business Intelligent solution for his business consisting of a web analytics, the data ware house, an OLAP system and data mining capabilities. A companied with Mr. Ben Etton, Chairman of the Board of Directors of the company and Mr. Jean Price, the senior accountant of the company worked out on this new technical change for the company and ask for different proposals explaining business system with its components in detail and their specific implementations. They set their budget that affords a system in every two years and though wants the priority implementations of the whole system in ten years.
Business Intelligence is a collective word, which describes a deep analysis on the trade made for last few years. This is a system, which shows up with concepts and methods to improve business. In other words, business intelligence is the name of analysis made upon the past information of the organization along with providing data management of the organization using different latest tools and technologies. It more over allows the business users and other management to keep the records of all critical activities took place in form of data mining carrying in a collective data called data ware house. This business intelligence system provides reports in a style that are practically used by senior managers, leads and other members of team. These reports help the business royals to take actions in positive successive way towards their organization. Though making decisions on information provided by the organization doesn’t covers the whole business. as business is the name of management of production and it’s trading. Data Mining may allow analyzing for the futuristic step taken for the company’s growth. data warehouse might keep the records of all trades but more important to all this is to make the production in demand. To satisfy the customers by giving the best in services. To make more and more customers by providing them with products they need in a comfortable price range. This all is about marketing which may be performed by web analytics. i.e., providing the trade online to its customers in a form of website.
More parleying about business information is that it’s a process to enhance business in a competitive means giving advantage to business by using the available data for decision-making. Major five steps for business intelligence are as follows:
Data Sources
Data Analysis
Situation Awareness
Risk Assessment
Decision Support
Data Sources: Business intelligence system needs data extraction and that can be done from report, emails, memos, documents, images, sounds, formatted texts, web pages and other list. The data is sourced electronically so that it can further used by the business intelligence system installed on an electronic machine like computer.
