Business Intelligence
Part 1 Initial Post
How would you define "business intelligence?" Provide two examples of real-world applications to share with your classmates.
Part 2 Respond to Classmate's Posts
Axel's Post
According to Reynolds, business intelligence is "a wide range of applications, practices, and technologies used for the extraction, translation, integration, analysis, and presentation of data to support improved decision making." In other words, a tool or set of tools which synthesizes data to help guide the user, or customer, to better choices (2016).
One such use of business intelligence, or BI, is found where I work. The electronics depot where I work has a support section which has access to an amazing tool called Oracle Discoverer. It can extract and translate data in many many ways. The support section uses Discoverer and a series of customized excel spreadsheets to create reports our Production Controllers can use to help them decide if resources are being used in the most efficient manner.
Another use of BI is utilized by my electric company, CPS Energy, here in San Antonio. CPS Energy has a series of sensors which track energy usage across the city. Based on the data the BI extracts, the company gives tips to customers on how to eliminate waste and garner more efficient use.
Some customers opt into a program which automatically lowers their usage when the grid is close to being maxed out in exchange for a considerable discount per kilowatt hour. The use of BI allows this program to work while keeping customers informed on the when, where, how and why.
Reference:
Reynolds, G.W. (2016). Information technology for managers. Boston, MA: Cengage Learning.
Steve's Post
Business intelligence is system or systems collecting data that organize the data that allows a business to make better business discussions most often affecting their bottom line. Any way a company can connect you the buyer to transactions made at the store or online can be considered business intelligence if that information is organized in a way that may predict future behavior.
For example Amazon.com. The connection is the profile that you create along with your username and password, as long as you continue to use that account they can collect data. So when you make purchases from Amazon.com they can take your buying history organize it, compare it to other similar customers and advertise items that they purchased at your landing page when you log in.
Another example is a rewards card program, best buy, pet smart, NY and Co, Gamestop, there are so many. They do the same as above but connect it to a rewards program. They connect it to an email or phone number and you don't have to log in or maintain it, they do. You the buyer do get perks, but they get valuable marketing information to then use to target you and other similar buyers.
We actually use Sage Business intelligence finance software to help ups organize and predict future spending. We pull this data when budgeting for the next year.