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Ref No: 2239

Answer 1 (a)

In the view of Sidorova and Torres (2015) BI is an expertise determined process for analyzing statistics and presenting actionable information to help commercial executives and other end users make more informed business decisions. It encompasses a mixture of tools, applications and methodologies that enable other organizations to collect their data from internal systems and external sources and prepare it for analysis and run queries against the data and data visualizations to make the analytical results available to corporate decisions and also operational workers.  Its data is typically stored in a data warehouse or smaller data marts that hold subsets of an organization’s information.

Strategic Information: According to Lim, Chen, and Chen (2013) BI plays a key role in strategic planning within a corporation and its software is designed with primary goal of taking out important data from an organization’s raw data to disclose insights to help a business make faster and more accurate decisions. The software typically integrates data from across the endeavor and provides end users with self service reporting. Generally these systems will illustrate business intelligence in the areas of customer support, market research and distribution analysis to name a few. Amongst myriad uses, BI tools empower organizations to gain insight into new markets and suitability of products and services for different market segments and measure the impact of marketing efforts.

From the view point of Sharda, Delen, and Turban (2013) through analytical processing, data analysis, and data mining, the Business Intelligence tools are used to fulfill a wide range of data needs of a business. Companies that use it do get benefit from its actions and it can be said that these actions are the mirror of work done in the past. The business intelligence helps analyzing the past data and deciding what can be done in future to improve those mistakes and become the best performing company.Strategic Information The BI has much more capabilities that are being used differently by different companies as per their needs. The other capability that is required for business intelligence is that business should show honest statements in front of media and should not produce any false reports for increasing the market value of the firms. The business intelligence helps deciding which reports should be shown to public and which reports are better for public and also decide which reports can be used to decide future of the company. The company future depends on those reports so business intelligence helps decide that as well. The companies can get a lot of benefits from business intelligence and they all should try their level best to best use its resources…………………………..