Business Intelligence
Transcript: A wise decision with useful information! Difficult to find useful information for decision makers before introduction of Business Intelligence Systems what is Business Intelligence? Business intelligence (BI) mainly refers to computer-based techniques used in identifying, extracting and analyzing business data for decision making ETL:Extracting data from database, transforming it to fit operation needs, and loading it into the data warehouse. datawarehouse is a database system optimized for reporting After a series of processing such as OLPA(Online Analytical Processing), Data is turned into information Next... Examples of Business Intelligence in hospitality industry Example. 1 - Financial performance - A competitive advantage - new revenue sources - Management companies - ownership groups Example. 2 Profitability Example. 3 Next... Future BI The once visionary BI is now commonplace and in near future a momentous transformation is about to take place. BI is all set to bring information democracy where end users across an organization will be able to view information related to their segment. Further, with the rising consumer expectations there will be demand for capability requirements of BI as well. Information Democracy BI plays a crucial role in providing cost-effective, comprehensive insights into business processes that help organizations make informed, strategic decisions that assure enhanced business results. Not long ago, BI was the domain of statisticians and corporate analysts. Only the selected few could access BI. Today, BI is spreading to nearly every strata of organization, as companies attempt to provide critical data to business users who need it to perform their jobs. It is quite evident that BI is instrumental in bringing information democracy and it provides everyone the insights they require – delivering information to the right people at the right time across the enterprise. More and more organizations are expected to empower their employees with BI for productivity and operational gains Proformance Management Today, when economic downturn is adversely affecting the world market, making insightful decisions about major changes in their business and markets has become crucial for organizations. They need to reconsider their strategies and operating plans. Only companies that can anticipate emerging trends and opportunities, refocus business strategy and vision, and align resources to maximize performance can effectively deal with the adversities of economic downturn and gain competitive advantage. BI and Performance Management brings business sensibility with enhanced visibility and insights, by delivering accurate and latest information to the right people for faster, improved, strategic and tactical decision making. Companies have increasingly starting realizing the importance of timely performance information to improve results, which will further make way for the rising demand for BI and Corporate Performance Management Solutions. Software As A Service Real Time Data Today, consumers are demanding faster and improved services from businesses. As it has become imperative for companies to pay attention to consumer satisfaction in order to stay competitive they are depending even more on BI. They now demand near real-time analysis for intelligent decisions for business success. The rising demand for near-real-time data analysis is making way for a new framework for business intelligence. BI 2.0 is the recently-coined term to describe the acquisition, provision and analysis of real- time data, which was earlier lacking in BI. BI 2.0 is a part of the constantly developing business intelligence industry and indicates the next step for BI. In near future, companies will switch from the traditional model of making business adjustments on a quarterly basis to business intelligence and performance management tools to make real-time shifts in strategy to respond to changes in the marketplace. Conslusion details Business intelligence essentially means putting relevant information at the fingertips of decision makers at all levels of your organizations functional areas, business units, and executive management. Technologies exist today to make this possible for all companies large and small. The more money you invest, the more hours you spend, the more business you will get! Profits & Performances - The Hospitality Intelligence Gateway Hospitality Industry To Make a Wonderful Business Innovative & Revolutionary Never Think That... Functions and Features of BIS include Room reservation Assets Business intelligence features and functions help you analyze organizational data into optimising performance and staying competitive within your market What is the scariest aspects of doing business More to go... - Casino Management App But POS and back-end systems Data integration is a key element to the backbone of any BI system Typically data integration within BI combines data from disparate sources
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