Showing posts with the label data collection

Using Business Intelligence to Make Business Strategic Decisions

Business Intelligence (BI) improves through the use of analytical data streams that help companies overcome market challenges and create internal growth mechanisms. Because the international business environment is complex and large it needs improved analytical tools to be successful. Small, medium, and large businesses are increasingly relying on BI to help them make strategic decisions. A paper by Khan & Quadri (2014) discusses the growing use of BI in everyday business decisions and how to improve on exiting models.  Proper BI requires the collection of data, analysis of that data, and providing a conclusion on the meaning of that data. BI uses proper analytical methods based in scientific research to achieve its goals. The same principles that apply to any research study would also apply to the business intelligence and strategy formation; in theory anyways.  BI has been defined as, “ The process of collection, treatment, and diffusion of information that has an ob