The Purpose of Business Intelligence

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The Purpose of Business Intelligence
  1. The Purpose of Business Intelligence In a competitive, ever-changing business environment, you need tomake quick decisions based on reliable facts and gures. Too oftenexecutives and knowledge workers nd that the information they needis incomplete, or simply unavailable. s a result, they can not makeinformed decisions on critical issues such as customers, products,protability, and new sources of revenue. That is why ! #usinessInformation $arehouse %! #$& is so valuable. 'uring all business activities, companies create data. In alldepartments of the company, employees at all levels use this data as abasis for making decisions. #usiness Intelligence %#I& collates andprepares the large set of enterprise data. #y analy(ing the data using#I tools, you can gain insights that support the decision-makingprocess within your company. #I makes it possible to quickly createreports about business processes and their results and to analy(e andinterpret data about customers, suppliers, and internal activities.'ynamic planning is also possible. #usiness Intelligence thereforehelps optimi(e business processes and enables you to act quickly andin line with the market, creating decisive competitive advantages foryour company.)sing the #$ one can able to  *elp you gain insights  Improve company performance  !upport better, more timely decisions! #$ is a powerful, +exible, data-warehousing and analytics solutionthat gathers and renes information from internal and external sourcesto help you see your company more clearly than ever before. ndbecause its fully integrated with the my! .com xchange andnterprise ortals, ! #$ is available at any time and anywhere. $ith! #$, your managers can become better informed, and better ableto make the rapid-re decisions required by todays dynamic businessenvironment. t the same time, ! #$ helps drive down the costs of datamanagement and increases the return on your information investment.#est of all, ! #$ is available through the rapid-deploymentcapabilities of my! .com. !o you can start getting answers when youneed them right away.! #usiness Information $arehouse includes the followingcomponents to help maximi(e the value of your data  #usiness /ontent   #usiness xplorer  #usiness xplorer naly(er  dministrator $orkbench 2. Executive view of BI useDecision support system: 0irst, management needs to assess wherea company currently is as a business, for example, versus thecompetition, and what the expectations of the stakeholders are.  This is done with an eye on core competencies and !$1T analysis% S trengths,  eaknesses, ! pportunities, T hreats&.*aving worked out where they are currently and taking into accounttheir stakeholder expectations, the management team then needs towork out where they want the business to be in 2 years time.  They then need to develop the strategies to help them reach thisfuture target. *aving established the corporate strategic priorities,these are then cascaded down through the business units.  Top management now has to be able to communicate strategy quicklyto all employees, so that they can understand how the new strategya3ects their day-to-day work and how they can help to implement thestrategy successfully. s part of this process, personal goals and incentives across the entireorgani(ation have to be aligned with strategy, otherwise nothing willhappen. 4ikewise, nancial resources have to be aligned around thestrategy.   The business execution system has to be adapted according to thestrategy. 5ou have to focus on those areas in the business executionsystems, and improve or establish those processes that are critical tomake the strategy happen.0inally, the enterprise should establish a continuous feedback loop thatallows the entire organi(ation and the management team to learnconstantly from strategy implementation and ad6ust tactics andstrategy quickly where and when it is necessary.7alue-oriented decision support is most e3ective when managementprocesses and information %strategic, nancial, and operational& areseamlessly integrated across functions through analytical softwareapplications. 'ata from the operational systems of the company and its value chainpartners is consolidated and compared with targets as part of theperformance measurement process, creating managementinformation. )sing simulation and scenario modeling, this informationis transformed into knowledge to form the basis of strategic planning.  The plans are translated into targets and operational rolling forecaststo drive management of operational performance, supported byappropriate key performance indicators and incentives at all levels.!uch a system for strategy and business performance management,also called a Str tegic Enterprise # n gement System , connectscorporate strategy with operations and the actual value being created  by executing management plans, rendering obsolete in many cases thetime and resource-intensive process of annual budgeting.! has provided solutions for reporting and analysis for a long time.)p until now, these solutions focused on the needs of operationalreporting. The requirements of strategic reporting were not fully met.8ow S$P SE# and S$P %ete ver BI together provide a completesolution for all types of reporting and decision-support. Business Pl nning n& Simul tion: 'ue to the complexity of planning processes, large numbers of sta3 from the most diverse partsof the enterprise are involved in the planning operations.  planning process includes  'ening planning forms, standards, approval procedures,planning areas, and ob6ects.  !etting up consolidation procedures and including planningInterdependencies.  9atching planning periods of the individual planning areas andsta3 ll this demonstrates the necessity of coordination instruments, whichprune and structure the planning process and provide for completeplanning integration at every level of planning. 1nly such instrumentsensure that up-to-date plan data required, for example for a rollingforecast process, is both reliable and available on time.
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