Comprehensive Business Intelligence Policy Makes Organizations Run Seamlessly
Isn’t intelligence a driving force in running the entire Universe? If we observe carefully, almost all the nations have their own intelligence bureaus and some of them are internationally acclaimed and are sought after by other nations to handle any cryptic situation. Intelligence is often misnomer in a sense that it is actually an ingredient present in each and every being of this Universe. But, the so called civilization has deemed it to be the prerogative of a few!
Intelligence is something that is a natural instinct that keeps the organism going and helps survival. Similarly, business intelligence is something that keeps the organization running seamlessly and is comprised of many aspects including technology, experience and wisdom! These aspects can also be called management tools as tools are not necessarily always in the form of physical devices and computers. Having said this, we can confine ourselves to the management tools that only involve computer devices, customized softwares and other specialized technology employed in managing the operations and functions of the organization with intelligence.
The major task of setting up powerful business intelligence mechanism across the organization is to store, analyze, consolidate and disseminate the data at various levels of organization. Such mechanism then helps all the concerned in the organization take informed decisions affecting the operational and functional environment of the business. The businesses of the 21st century though have evolved to set up such efficient management as to improve individual, processes, teams and organizational performance.
In a way, such integrated approach towards managing data across the organization and making it accessible to all results in transparency and flexibility of the organization. Flexibility in a sense that accessibility of the data makes the organization adapt to the consumer demand, imminent risk if there is any, and change the corporate objectives in accordance with meaningful risk management policies set up to mitigate enterprise exposure. For the sake of comfort, the scope and application of business intelligence can be divided into three categories: personal, team and organization.
It is also noted that while there are many management tools adopted by organizations as part of their comprehensive policy for business intelligence, such solutions or tools are much sought-after by large size businesses for the precise reason that they have large customer base as well as large number of employees. This also implies that they have to face fierce competition as well as more exposure to risk. The major needs that this large size institutions need to address by implementing intelligence mechanism are :
Intelligence is something that is a natural instinct that keeps the organism going and helps survival. Similarly, business intelligence is something that keeps the organization running seamlessly and is comprised of many aspects including technology, experience and wisdom! These aspects can also be called management tools as tools are not necessarily always in the form of physical devices and computers. Having said this, we can confine ourselves to the management tools that only involve computer devices, customized softwares and other specialized technology employed in managing the operations and functions of the organization with intelligence.
The major task of setting up powerful business intelligence mechanism across the organization is to store, analyze, consolidate and disseminate the data at various levels of organization. Such mechanism then helps all the concerned in the organization take informed decisions affecting the operational and functional environment of the business. The businesses of the 21st century though have evolved to set up such efficient management as to improve individual, processes, teams and organizational performance.
In a way, such integrated approach towards managing data across the organization and making it accessible to all results in transparency and flexibility of the organization. Flexibility in a sense that accessibility of the data makes the organization adapt to the consumer demand, imminent risk if there is any, and change the corporate objectives in accordance with meaningful risk management policies set up to mitigate enterprise exposure. For the sake of comfort, the scope and application of business intelligence can be divided into three categories: personal, team and organization.
It is also noted that while there are many management tools adopted by organizations as part of their comprehensive policy for business intelligence, such solutions or tools are much sought-after by large size businesses for the precise reason that they have large customer base as well as large number of employees. This also implies that they have to face fierce competition as well as more exposure to risk. The major needs that this large size institutions need to address by implementing intelligence mechanism are :
- To scrutinize sales trends
- To check mass trends regarding customer purchase
- To keep a tab on financial management
- To check human resources management
- To enable predictive analysis of the market
- To examine the impact of sales and marketing
- To evaluation of vendor relationships
