Business Intelligence
Question 1
The principal objective of business intelligence is to aid in the process of decision making. A proper BI system within the corporate will assist managers and business owners to get data with the right format on time. BI assists in the process of decision making as a result of the many powerful elements that it has (Trieu, 2017). The elements include data visualization, interactivity, predictive analytics, application integration, and database connection. Through these elements, the business is able to take a more structured view of the information to give deep interpretations.
Business Intelligence offers the organization a competitive advantage as it brings an increased understanding of the forces that shape businesses and markets while helping the organization act on that knowledge (Trieu, 2017). In comparison, the traditional approaches did not get into details, and therefore there was no deep understanding of the acquisition of knowledge to help in creating a competitive advantage. Nevertheless, unlike traditional approaches that were less complicated, business intelligence carries a lot of convolutions in data implementation.
The planning phase is a necessary process that involves understanding why information systems should be created. System analysis helps in determining the two steps of the planning phase, which include project management and project initiation (Yeoh & Popovič, 2016). System analysis investigates the procedures, techniques, and activities to determine what will be accomplished and how operations may be best done through the use of appropriate mathematical techniques.
Question 2
The BI project journey will require certain strategies to be a success. The first strategy involves structuring the BI project since a great project is dependent on a great foundation. The next step to ensure that the project is within the right budget is identifying the requirements of the BI platform, which will involve considering the wants and the needs that the business has (Thamir & Paulis, 2015). The other step will involve choosing the BI platform through the use of a safety net and methodology that supports the decision. Then there will be the implementation of the BI platform by considering the type of implementation that is required together with the aspects that impact the decisions of implementation. The last strategy will be measuring the success of the BI by considering quality, time, and adoption. To avoid risks, it will be vital to building a team for the project together with being aware of the budget of the BI project.
The project management tactics can be used in impacting the rate of the success of the projects since businesses are able to use tools that are not too invested in technology. BI tools that are user-friendly do not need the assistance of Information technology to set up. Also, project management tactics empower the end-users by allowing them to participate in the planning phase.