Question

Question :

Identify and describe two specific instances of business intelligence that (to the best of your current knowledge) your organization does not currently have, but should aggressively pursue obtaining or creating within the next 2 – 6 months. In the space below: describe the intelligence you think you need to pursue, tell me what data the intelligence should be based upon, tell me how that data could be collected, tell me how the raw data should be turned into intelligence (I don’t need algorithms or specific formulas- just give me a high-level description of the process). Next, tell me how that intelligence can be used- what decisions would that intelligence facilitate? Give me a rough estimate of how much this intelligence would cost to obtain/create, and also, the value of this intelligence to your organization.

Instructions: Please write your answers in the format of a memo directed at your immediate supervisor- this of this as a proposal you will make to your boss, in the hope that your boss will get “on board” and want to champion your idea to his or her boss.  

Your essay should be a maximum of 2 pages of writing, with 2 extra pages of appendices allowed for tables, charts, etc. if you so require.

Your memo should be the last 2-4 pages of this document.

Answers base on Information Systems .

Answer 1

Answer. Business intelligence (BI) is a technology-driven process for analyzing data and predenting actionable information to help executives,managers and other corporate end users make informed business decisions.Business intelligence encompasses a wide variety of tools,application and methodologies that enable organizations to collect data from internal sources;prepare it for analysis;develop and run quaries against the data;and create reports,dashboards and data visulaizations to make the analytical results available to corporate decision , makers as well as operational workers.

Importance of business intelligence

The potential benefits of business intelligence tools include accelerating and improving decesion-making , optimizing internal business processes , increasing operational essiciency , driving new revenues and gaining competitive advantage over business rivals.BI systems can also helps companies identify market trends and spot business problems that need to be addressed.

All kind of business used BI Business Intelligence is helpfull for businesses of all sizes and industries from big to samll, and from food to software.