Business justification with business intelligence

Abstract

Purpose – The paper intends to find out the business justifications and requirements for incorporating business intelligence (BI) in organizations because many organizations that already have systems in place to collect data and gather information, often find themselves in a situation where they have no tools or roadmaps to put their vast data and information into use for strategic decision making. Design/methodology/approach – In this paper BI and the growing potential for implementing BI is explained. The paper also explains a checklist for implementing BI. Findings – During the last ten years, the approach to business management in the entire globe has deeply changed. Firms have understood the importance of enforcing achievement of the goals defined by their strategy through metrics-driven management. Firms are evolving into new forms based on knowledge and networks in response to an environment characterized by indistinct organizational boundaries and fast-paced change. New and complex changes are emerging that will force enterprises to operate in entirely new methods. Understanding the data and transforming, and shaping them into networked marketplaces is a key strategy for any organization to achieve competitive advantage. The business success factor for any enterprise is finding ways to bring the vast amount of data that are flowing within and across the business processes together and making sense out of them. Business Intercenine includes extraction, transformation and loading (ETL), data warehousing, database query and reporting, multidimensional/online analytical processing (OLAP) data analysis, data mining and visualization. Originality/value – The paper provides useful information on business justifications and requirements for incorporating business intelligence in organizations.