Weekly Writeup for AC233 Database Communication and Management
Business/Competitive Intelligence
The rapidly changing business landscape in the Asia-Pacific requires a flexible and intelligent information management system in order to maximise company performance. In today's business environment, executives need to make operational and strategic decisions in real time.
Without the right information, delivered on time, about the business, financial health, risks and opportunities available, it will be almost impossible for business leaders to effectively maximise business productivity and efficiencies.
Business intelligence (BI) is changing the current inability of IT to do this. It is also taking it to the next level by helping managers understand why a given situation exists, and more importantly how to respond effectively and efficiently.
Examples of how BI can help are in the areas of addressing real-world questions such as: How to increase sales before outgrowing manufacturing capacity? What are my anticipated cashflows? How are my competitors reacting to the business environment?
BI has the potential to be an effective tool in the management process as it is designed to make it easier for businesses to find, deliver and analyse mission-critical information in real time. Information that has the potential to help companies maximise productivity and efficiency across the board.
The true value of BI comes when it is accessible on the desktop through the use of Internet technology and networks. By providing an easy-to-use intranet application that finds and delivers information and data analysis to managers in real time, BI will help executives make crucial business decisions. Corporate decisions will be based on the strategic information made available by delivering information to desktops.
BI will be able to deliver fast and reliable answers to mission critical questions in areas such as sales and forecasting, logistics and supply, financial management, human resources planning and product development.