Chapter 5 WEEK 8

 CHAPTER 5 WEEK 8

As businesses continue to evolve, making informed decisions is becoming increasingly important. And that's exactly where business intelligence (BI) comes into play. BI is a powerful tool that enables businesses to collect, store, and analyse information to help make smarter decisions. 

With BI, businesses have a framework to analyse data in problem structure, management control, strategic planning, and operational control. It helps in decision-making by providing computerised decision analysis and applications such as multidimensional analysis, data mining, dashboards, data visualisation technologies, and real-time business intelligence. 

By monitoring key performance indicators (KPIs) such as revenue, return on investment (ROI), overhead, and operational costs, BI applications are valuable to both large and small businesses. They can be used in various sectors such as accounting, finance, marketing, production and operations management, and human resources management. And they can even be used to solve campus problems! 

In short, BI is a crucial tool that helps businesses make informed decisions and ensures that they continue to stay ahead of the competition.

Reference from:

Management Information Systems 1st Edition

Gray, H., Issa, T., Pye, G., Troshani, I., Rainer, R. K., Prince, B., & Hugh J. W. (2015). Management information systems. John Wiley.