Business Intelligence (BI) is the way in which data can be stored and later used as business information. BI includes technologies, applications and means for collection, integration, analysis and presentation of business data. It is used for delivery of appropriate data at proper time and in a precise arrangement. BI offers user friendly information to users who can work, team and resolve on contentious issues. Business Intelligence has several advantages;
BI has made decision making a lot easier by allowing leaders access to opinions at any given point of time and place. Latest information is accessed via the desktop or over the internet.
Business Intelligence has enhanced managerial efficiency by making data sharing among employees, clients and associates easily accessible. This data is shared over an improved, secured and administered web ambiance. The managers have a centralized site to conduct their supervision.
An organization that employs BI has its premeditated planning simpler where familiar equipments are used. Supervision of the work is easier and makes expansion of an entire firm more lucrative.
Business Intelligence increases employees’ insight through fully integrated Business Intelligence by making use of well known and accessible tools. When data is easily obtained and interaction of people is free, investigation and assessment of information is achieved and hence knowledgeable business plans can be implemented.
Finally, training requirements of a firm are reduced by using business tools that are common, extensively backed and easily accessible. BI enables people to interconnect with information they choose to.
On the other hand, Business Intelligence has its disadvantages in the firms that use it. These disadvantages include;
BI leads to piling of Historical Data about a firm’s deals which is the revealed in a way that permits professionals indecision making. This information however is in small portions that the firm actually needs to work with. The user may also not need the historical data as the market is in frequent allocation.
Business intelligence can also appear to be expensive in the low as well middle enterprises as they only have basic transactions.
Another disadvantage of BI is that it can be quit complex in data implementation making it so intricate for any business technique. This has been predicted by business experts to throttle any business.
There is a limited use of BI as like any other technology, it was first established in the affluent firms and the low and middle enterprises do not consider it to be highly essential due to its complexity. BI is not affordable for many companies.
Business Intelligence takes around 18months for data warehousing to completely implement the system and many firms in the fast paced industrial scenarios are not patient enough to wait for its execution.
Finally on BI diasadvantages, Commercial settings can turn out to be muddled where business intelligence has been used.
In conclusion, firms should not employ the use of BI for data storage for the sake of it because it does not result in its worth but in vice versa effects. Firms should therefore give due thought to the BI before its implementation.
Business MapsofIndia. Web November 2012
Association of Modern Technologies professional, 2012. Web November 2012
www.itinfo.am/eng/business-intelligence/
BI for software manufacturers: build vs. buy, 2008. Web November 2012
