What is Business Intelligence? Business intelligence (BI) deals with a systematic process for collecting, analyzing, and managing internal and external information and knowledge to improve an organization’s decision making process. Basic components of Business Intelligence – Data Warehousing Technology – Query, Analysis, and Information Delivery – User-Empowering Interface
Challenges a Company Faces Without a BI System Lack of ability to provide analytical information with superior performance while refreshing the data marts in real-time. Inability to justify costs versus benefits for real-time business intelligence. Difficult to perform all of the transformations in the ETL (Extract, Transform Load) process in real-time.
Process of Integrating Business Intelligence Organization sets a goal Focus integration of BI around organization’s goal Create a structured format for collecting and storing data Analyze data for day-to-day operational activities Analyze data for organization’s long-term strategy
Benefits of Business Intelligence Fast delivery time of data queries allows for real-time decision making Consistent Information Reduced Costs Improved Customer Relationships
Business Intelligence Software SAS Cognos Microsoft Dynamics
Drawbacks to Business Intelligence Too much Information – Access to large amounts of data can cause users to perform irrelevant analysis and go off on tangents Data-mining will require employees to have a general knowledge of the user interface, requiring training.
Amazing Travel Company Small company that is experiencing rapid growth in their number of customers Currently uses paper files and employee memories to store customer and market data Data includes – Customer Profiles/Flight Information – Market Segmentation – Customer Profiling/Support – Market Research – Product Profitability – Statistical analysis – Inventory – Distribution Analysis
Amazing Travel’s Needs Data Warehouse – Place to store all of the enterprise information Data Analysis – Application tools that will enable Amazing Travel to improve customer service
Fulfilling Amazing Travel’s Needs with Business Intelligence The use of BI software would allow Amazing to store all of their data into a single place Documents will be dematerialized making data searches more efficient Detailed Customer reports will be accessible within minutes Data concerning vacation destinations will be readily accessible and improve customer support Improves employee-customer relationship management BI will bring all departments under one system – Operations – Accounting – Marketing
Business Intelligence Software Sage Software – $30,000 - $200,000 Everest Software – Starts at $800/month for 5 users Microsoft Dynamics – $3,000 - $100,000+ Netsuite – $99/user/month JasperSoft – Work with a salesperson for a quote
Drawbacks of Business Intelligence for Amazing Travel Current employees will have to be trained to operate the software Amazing Travel will have to hire an IT employee
Recommendations for Amazing Travel Amazing Travel should consider implementing Business Intelligence Software – Microsoft Dynamics would be a good option for Amazing Travel due its familiar user-interface and potential for growth with the business. Amazing Travel should establish what they expect their business growth rate to be in the future and determine their ultimate goals as a company. – This will be necessary in order to properly implement any particular BI program.