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Business Intelligence: Concepts and Strategies

Strategic Management Processes

For business intelligence to perform its intended functions, there are strategic management processes that need to be put in place to help it reach the dream. Such strategies fall under the success factors of business intelligence. This paper looks into the common mistakes that business management may have committed in the execution of a project. It also concentrates on the mistakes the management may have committed during determination of the proposition value of a business.

One of the major challenges of business management is the integration of the business strategies and business intelligence (Marrion, 2010, p. 1). To achieve the intended success in business intelligence, there should be comprehensive strategies that are directed by available data in the management and execution of business intelligence (Williams & Williams, 2007, p. 173). Leaders are highly advised to make sure that before execution of business intelligence, they are informed of structures that should be put in place and the intended achievements.

Another critical mistake committed under the establishment of business value is lack of establishing information requirements of the business. If the management fails to perform adequate scrutiny of the information and data available, there are chances that the model is bound to fail (Williams & Williams, 2007, p. 173). If the quality of the available data is poor, the credibility and utilization of information is compromised and the business intelligence systems risk facing the same critical failures. According Williams and Williams (2007), the failures to handle information in the right way posses acts a great challenge to the business and the information technology procedures it implements (p. 175).

Lastly, William and William (2007) are of the opinion that for a business to progress and realize its value in the market, it should be willing to associate with other businesses or organizations. In every business that needs information technology, there is need to have a relationship with other established businesses of the same line (Marrion, 2010, p. 1). In addition, working with other related organizations helps involved institutions to have the intended experiences and practical applications of business intelligence (Williams & Williams, 2007, p. 175).

End-to-end Business Intelligence Model

There has been a massive growth in business intelligence over the last decade. This concept of business intelligence has also been experienced in the field of financial analysis and reporting (Glatthorn & Joyner, 2005, p. 125). There are a number of field management studies that have been conducted to realize the intended business management and analysis. This advancement has been reported in many places and is greatly applicable in the management of small enterprises such as retail shops and single chain letting organizations.

Research notes that chain stores need to expand their business intelligence models to include data collected by retailers, for them to be sustainable (Glatthorn & Joyner, 2005, p. 125). Information in the past has been interpreted to apply to retailers alone; but after a close analysis of business information, it is clear that it also affects small suppliers although indirectly. Hence, there are recommendations to start and install an all-inclusive business intelligence that is not biased in terms of the information it handles and analyses. With such a model, there are higher chances that the suppliers will be able to generate viable business strategies that are effective in pleasing consumers of their products (Negash, 2004, p. 179). Such integrated business intelligence is also vital in controlling business management, making sure that the executive administration considers customers’ preferences and in the dissemination of information (Negash, 2004, p. 179).

In conclusion, comprehensive model of business intelligence might be helpful in deploying data in different ways that could help in the management of retailers. The importance of this model is that it gives information relating to finance, labor and the supply mechanisms of the products handled by the suppliers.

References

Glatthorn, A. A. & Joyner, R. L. (2005). Writting and winning thesis or dissertation: A step-by-step guide. Thousand Oaks, CA: Corwin Press.

Marrion, L. (2010, May 14). Business intelligence software: 10 common mistakes. Web.

Negash. S. (2004). Business intelligence. Communications of the Association of Information Systems, 13(1), 177-195.

Williams, N., & Williams, S. (2007). The profit impact of business intelligence. London, UK: Morgan Kaufmann Publishers.

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StudyKraken. (2022, March 21). Business Intelligence: Concepts and Strategies. Retrieved from https://studykraken.com/business-intelligence-concepts-and-strategies/

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StudyKraken. "Business Intelligence: Concepts and Strategies." March 21, 2022. https://studykraken.com/business-intelligence-concepts-and-strategies/.

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StudyKraken. 2022. "Business Intelligence: Concepts and Strategies." March 21, 2022. https://studykraken.com/business-intelligence-concepts-and-strategies/.

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