Ways of enhancing business intelligence- A brief discussion
BI mainly involves technologies and strategies that can be implemented in an organization to analyze data and information. Business operations can be improved using BI because it provides current, predictive, and practical views. The improvement process is evolutionary. It is essential to note that the strong availability of information does not signify the capability of BI (White, 2005).
Steps to improve business intelligence
Companies are supposed to stay on the right path and follow a particular direction to improve BI capability. Certain practices can enable the decision-making process. A step-by-step guide has been outlined below-
- Developing a strategy for improvement– A continuous process should be adopted by organizations to ensure intelligent practices. It is not feasible to look up to useless or outdated databases, and organizations should focus on improving the quality of information. The available information must be practical and useful for users.
- Targeting the main points– Decision making within the organization can be enhanced by setting clear focus and target. For instance, if a company is willing to understand the needs of the customers, then it should encourage employees to deal directly with the customers and understand their requirements (Yeoh, Koronios & Gao, 2008). It might take a long time; however, a focused approach is likely to bear effective results.
- Prioritizing the lessons from failure– Past failures can be effective in making progress in the future. For instance, companies are aware that knowledge management fails because influencing the customers is not always an easy task. Consequently, efforts towards knowledge management might provide limited and inaccurate views regarding customers.
- Enhancing analytical and IT skills- Technology and business should be collaborated and integrated. IT initiatives can improve the expertise of employees. This, in turn, will enhance the BI capabilities of the firm. It can remove traditional techniques.