Business is always entailed with 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.
There are a number of key players to include in your Business Intelligence strategy and initiatives. This reflects the focus organizations are now giving to the analysis of key information to drive business objectives such as customer retention and market penetration.
Identifying relevant criteria, conditions and parameters of report generation is solely based on business requirements, which need to be well communicated by the users and correctly captured by the BA. Ultimately, correct decision support will be facilitated through the BI initiative and it aims to provide warnings on important events, such as takeovers, market changes, and poor staff performance, so that preventative steps could be taken.
Market Intelligence corresponds to the strategic management discipline within companies that allow a more deeply know of the market and the company’s performance within it, through a constant flow of information. In recent years the concept of Business Intelligence (BI) has evolved, and as a result, many managers have been reminded why they were collecting all of this data in the first place.
Situation Awareness: This stage of the Business Intelligence process helps in filtering the relevant data and using it in relevance to the business environment. Finally, Business Intelligence refers to the set of tools to extract business experience. Core dashboards in the business intelligence system should be built around the balanced scorecard strategy and display key metrics for visual analysis by end users.