How does the bi platform help the organization

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Reference no: EM133345707

Case: Business Intelligence is the term that stands for business intelligence is used to describe the collection and presentation of data that help an organization in making decisions. It's a way to combine data from different sources into a meaningful and useful form. The data gathered can include the numbers of employees, operations, trends, costs, and the like. It's a way to analyze large amounts of data to provide you with the information you need to make the best business decisions.Business intelligence, also called business analytics, is the data-driven process of using quantitative and qualitative tools. It examines and makes sense of information. One tool from the big data space, Business Intelligence (BI), is a software platform that answers the question, "How well is my business performing?". The BI platform helps organizations answer these critical questions, allowing them to improve decision-making, make more informed strategic decisions, and make better strategic and tactical decisions that are more actionable.

Over a period of time, companies invest a lot of resources in developing and deploying various tools to enable decision-making. These tools include the generation of business intelligence reports, dashboards, and web-based applications. Business intelligence tools have become integral to the success of a company. The bottom line is that the use of these tools can help transform the way decision-making is organized and the way risk is managed.As with most other decisions, good decision-making in business can lead to good results. With a careful process of analysis, analysis of data can help a company make intelligent decisions for its business.

When making decisions, the first step in using Business Intelligence is to 1- define and understand the problem. This may occur to the business in the form of strategic planning, which includes defining the mission and values of the company.The goal of using a Business Intelligence solution is to increase business productivity and improve decision-making; which will reduce risk. Decision-making for reducing the risk that can be modeled as a decision tree, risks are classified as "low", "medium", and "high" based on their frequency and severity. In general, high-risk decisions are more difficult and require more careful planning.Being able to collect and aggregate data can provide a lot of value in business today. It gives you the ability to make decisions and take actions based on the same data that drives so many of the decisions in the first place. This is what business intelligence is all about. Business intelligence is a lot more than the trendy buzzword that gets thrown around in meetings these days. It is the provision of information to aid in decision-making within an organization. It is one of the most important tools for companies to achieve the right decisions. With this,companies can make use of various data sources (such as text, images, videos, and other files) and build a vast set of information in order to make informed decisions, and improve the efficiency of the business. This year, it occupies a huge market share and has gained momentum in the business world. Most companies today use business intelligence software, and there are tons of tools on the market to help you make smarter decisions. But which one of these tools is right for you? You need to ask how you want to use the information you gather, what kind of decisions you'll be making, where you'll be storing the data, and how you'll use this data. If you can answer these questions, you'll be able to determine whether a tool is right for you.

with the help of this case study, please answer the following questions, preferably long answers, please as much as possible broaden your answer with external information and some examples, PLEASE DO NOT COPY FROM THE CASE STUDY, but take some points. this is (Management information system course)

What is business intelligence?
How can it be useful to the organization?
What kind of data can be collected?
How does business intelligence work?
How does the BI platform help the organization?
What are the tools companies have used to enable decision making? Explain each tool (broaden your explanation, give examples)
How can the use of these tools can help transform the way decision-making is?
What is the goal of using a Business Intelligence?
Explain Decision-making for reducing the risk 1-low 2- medium high based on their frequency and severity.
How can collecting aggregate data can provide a lot of value in business today? Explain in detail with the help of providing examples
What Are the Advantages of Using Business Intelligence?
How can I choose the best business intelligence?

Reference no: EM133345707

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