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Title : Does Business Intelligence Have Benefits for Company Decision Making?
Decision-making is a common process in every company and managers have to announce new decisions in order to achieve company objectives. Business Intelligence (BI) collects and analyses historical data to generate models to help decision makers make appropriate decisions (Anandarajan, 2003). In contrast, Turban (2007) argues that companies’ business performance could not be improved because disability of BI to deliver companies’ needs. This essay will evaluate the benefits of BI for company decision-making in terms to judge whether BI is required by company or not which affects three areas such as enhance decision-making process, provide appropriate models and forecasting.
Companies that use BI on their systems could enhance decision-making process to make useful decisions. Michalewicz, Schmidt and Chiriac (2006) argue that the company could use the solutions and models generated by BI. Therefore, the business issues could be solved and the company’s aims could be achieved. To reinforce Michaelewicz et al., Turban (2007) refers to Thompson’s survey that BI achieved accurate reporting (81 percent) and improved decision-making (78 percent) for the company. However, Michalewicz et al. (2006) assert data that informed by the systems, would not guarantee the best decision or generate accurate results. Turban (2007) agrees with Michalewicz et al. (2006) that accurate data might not be provided by the systems. As a result, decision makers could not make useful decisions for the company. According to Turban’s (2007) problem, Anandarajan (2003) offers the solution to running a data cleansing process where data might be evaluated and tested continually for accuracy. Therefore, BI is a useful system that provides and maintains company’s data to be analysed and calculated to generate some models for decision makers.
Due to enhance decision-making process, appropriate models are needed to make useful decisions. Anandarajan (2003) explains the company might analyse data and information then utilized them to generate knowledge. According to Michalewicz (2006) appropriate knowledge would cause appropriate decisions. In order to provide appropriate knowledge, Turban (2007) states six types of users: IT, power users, executives, functional managers, occasional information customers and external users (e.g., partners and customers). However, Gilad and Gilad (1988) state that some reports do not solve the problems or meet the user aims. Similar with Gilad (2008), Anandarajan (2006) asserts that some reports are too difficult for boards of directors when they want to get the details. To solve this problem, Gilad (1988) asserts a solution to provide reports when users need it. In addition, Michalewicz et al. (2006) assert some new features such as optimizing and forecasting to support decision makers make fast and advantageous decisions.
Another area that could be expected from BI is forecasting. Michalewicz et al. (2006) mention that BI might have new attributes to enhance the business value such as predicts the future. According to Fleisher & Bensoussan (2007) historical data were identified, analysed and mixed with the market variables to analyse the future market conditions to make appropriate decisions or policies for company. Moreover, Turban (2007) asserts that forecasting could predict the future compare with current company performance. However, Richards (1987) argues that in some cases company could not estimate and calculate data to predict the future conditions.
This essay examined the benefits of BI that might improve the company performances, it seems clear that BI enhances decision-making process and generates appropriate models for decision makers. Moreover, BI systems are capable to predict the future conditions based on current and historical data. So, most company should implement BI in their systems to achieve highest company performance.