Business intelligence has been employed by various organizations to spearhead their competitiveness. Various Schools of thought in business fields have also adopted business intelligence in their models of governance and prioritization. In fact, recent past has witnessed major transformations in major firms around the world. These have increasingly seen adoptions of business intelligence solution, which is considered as the best way of analyzing an organization’s configuration and asset management information. Modernization and globalization has come up with various technological advancements, these have enabled establishment and adoption of business intelligence in most companies. In this regard, almost every business has an IT department, which underlines its progress. This outlines how business intelligence has taken over control of most business entities. This paper will explore a literature review article on business intelligence (Graham, 2006, p. 1).
Business intelligence is a general term that is commonly used to refer to various application software and packages employed in analyzing an organization’s raw data. Over the years, its use has been adopted across all corporate firms with focus on achieving the best probable analysis as well as executions as required. In the process, business intelligence has improved service delivery as well as production of such companies as quality control is well monitored and desired changes can easily be made. Business intelligence comprises of several activities, these include online analytical processing of raw data, reporting, and querying as well as data mining, among others. Business intelligence is applied in companies for several reasons. Some of these include improvement of decision making, strategizing on better business management techniques, identifying and exploring new and better business opportunities, among others. In this regard, it can clearly be seen that business intelligence goes beyond corporate reporting and data mining. In fact, it can works on complex reports without the need for IT to run them. In addition, it identifies inefficient processes that require re-engineering. Business intelligence is therefore very essential in modern technology and businesses (BusinessIntelligence, 2010, p. 1).
Business intelligence is very essential for providing feasible information architecture that are required in IT service as they address the needs of such departments like asset management, among others. Measurement of IT performance has improved with better service level agreements as well as total cost of ownership. These two have worked to improve the day to day management of businesses as well as strategic planning for better productivity. Moreover, Business intelligence provides the analytical edge to corporate business. It is therefore quite crucial to note that without business intelligence, companies cannot understand the correlation that exists between business and IT. In addition, businesses without analytical extension to their IT asset management are usually weak in negotiating contracts and unable to provide clear and concise forecast along with monitoring asset management. Furthermore, it cannot understand budgets, costs, as well as cash flows, among others. This outlines how important Business intelligence is, to a firm. In essence, business intelligence provides organizations with a competitive edge over other equally large or even bigger businesses (Mulcahy, 2011, p. 1).
The article focuses on importance of business intelligence to corporate organizations and the need for its adoption as well as implementation. The article also provides information on past practices as well as present that have justified need for business intelligence. It goes on to give the advantages and suitability of business intelligence for businesses and its ability to improve competitive edge of companies over their competitors. The article is therefore well written with credible sources and examples that pertain to business intelligence. For instance, the author gives an example in META Group, which has utilized business intelligence to identify IT-related costs of managing their customers. In essence, business intelligence is essential to any business. It should therefore be adopted to improve quality and competitive edge (Graham, 2006, p. 1).
BusinessIntelligence. (2010). Business Intelligence. Business Intelligence.com. Web.
Graham, A. (2006). Business Intelligence for IT Asset and Configuration Management. Business Intelligence. Web.
Mulcahy, R. (2011). Business Intelligence Definition and Solutions: Business Intelligence topics covering definition, objectives, systems, and solutions. CIO.com. Web.