Business intelligence aims to help companies make better decisions when it comes to handling their businesses. It aids in taking better business decisions for improvising staff morale and customer satisfaction. It represents tools and systems that make it possible for a company to gather, store, and analyse data to help them in their decision-making. The key to successful root cause analysis is not solely the responsibility of the analyst, but starts at the point where feedback is captured within the organization.
It will mainly have transactional data which would facilitate effective querying, analyzing and report generation, which in turn would give the management the required level of information for the decision making. Key performance indicators help show the business intelligence through alert icons, traffic lights, trend icons, progress bards, and gauges.
A key component to a good business intelligence system is a collection of dashboards that visualize and make sense of a vast array of corporate, public and third party data. It has delivered proven solutions to access relevant, reliable, consistent information throughout the organizations assisting them to make the right decisions and achieve sustainable performance improvement as well as mitigate risks.
9. A BSC (balanced scorecard) approach for BPM (business process management) is well-know and widely-used. Such useful reports are useful to the senior analysts in decision-making process. Referring to business intelligence, we can differentiate the concepts of data, information and knowledge.
For a business to be successful, it is very important the ability to make accurate and quick business decisions. When looking at the end-to-end process for root cause analysis, the data that support it needs to be comprehensive, accurate, consistent and timely.