Effective Business Intelligence Systems

Effective Business Intelligence Systems

Effective Business Intelligence Systems

Effective Business Intelligence Systems

Synopsis

One step above knowledge management systems are business intelligence systems. Their purpose is to give decision makers a better understanding of their organization's operations, and thus another way to outmaneuver the competition, by helping to find and extract the meaningful relationships, trends, and correlations that underlie the organization's operations and ultimately contribute to its success. Thierauf also shows that by tying critical success factors and key performance indicators into business intelligence systems, an organization's most important financial ratios can also be improved. Thierauf's book will advance the knowledge and skills of all information systems providers and users

Excerpt

In these fast-changing times, decision makers are utilizing a wide range of information systems to improve their decisions. The prominent ones include decision support systems (DSSs), executive information systems (EISs), on-line analytical processing (OLAP) systems, and knowledge management systems (KMSs). DSSs allow decision makers to be at the center of their decision-making activities, while EISs provide the capability to assist decision makers at the highest level to get a better grasp of their operations. OLAP systems enable decision makers to build and work with analytical models easily and view the output in multiple dimensions where the focus is on showing them what has happened in their business. KMSs go beyond relationships found in information allowing decision makers to extract patterns, trends, and correlations that underlie the interworkings of a company currently and over time. In contrast, the latest thrust in information systems are business intelligence systems (BISs), which take decision makers to a higher level by providing them with a thorough understanding of a company’s operations.

Business intelligence systems are capable of leveraging a company’s assets to optimize their value and provide a good return on investment. Even though BISs are “the new kids on the block,” their underlying concepts have been in place for at least a decade. Data warehousing, data mining, the Internet, and the World Wide Web, to name a few, have revolutionized the ability of decision makers to find, accumulate, organize, and access business intelligence. The bottom line is that effective BISs give decision makers the ability to keep their fingers on the pulse of their businesses every step of the way.

The growth of business intelligence (BI) can be linked to the fact that BI software is getting better and cheaper to use on a day-to-day basis, not to mention lowering of hardware costs. Business intelligence that is developed con-

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