For business analytics (information technology) - thesis proposal example

For business analytics (Information Technology)

Introduction: Business Intelligence is one of the most prominent and critical field as Information Technology emerges in the 21st century. BI is pivotal in many organizations because it allows respective stakeholders to view and analyze data. Before the advent of BI, information about customers and business were overwhelming. With BI, stakeholders can truly take this raw information and convert into data that can assist them in making real-time decisions. The challenge in many organizations is the fact that majority of decisions are made based on estimated guesses. One of the best elements of BI is the fact that it reduces any ‘ guesswork’. Moreover, it allows the organization to understand customer behavior in a much meaning ful way. According to Business Intelligence (2014), a huge aspect of BI is the collaboration aspect as it allows users to interact and use this data. Imagine an organization in which the marketing department requires key reports from the technology department. Clearly, the issue of latency can be a factor that can delay essential decision making. With the boom of e-commerce, this has become even more pivotal. For many decades, companies have established itself as one of the most premiere companies internationally(BI, 2014). In order to harness the growth of customers worldwide, McDonald’s has created data warehousing that has allowed the company to understand the customers, track inventory, and monitor financials. All of these components are integrated in one dashboard that has harnessed BI.
Problem Statement: Creating a solution in the realm of BI that will allow e-commerce websites to obtain customer information via adhoc basis.
Solution: A centralized information from all the sources (e. g. point-of-sale (POS) system, equipment monitoring, etc) where all sorts of information, real-time feeds and legacy information, can be monitored and analyzed in most efficient and precise way via data warehousing.
Oracle ERP system, which can handle most day-to-day business functions, would serve as the hub. POS and other devices use business intelligence software to gather sales information and marketing data, which is then transferred to an Oracle database for analysis. In addition this would facilitates organizations with robust information, which can include mitigating risks. The main objective of using Oracle software with other systems is to perform integration among different systems so everything is centralized thus the information.
Liebowitz (2006) states that a BI approach would also help them to perform product management that is to monitor the quality of product and tools that are used for business, this all can be achieved by Simple Network Management Technology (SNMP) which monitors every essential piece of equipment in each location “ with the addition of simple electronic monitoring devices, a network connection, and an SNMP management information base (a piece of software that interprets the data from the device for the monitoring system), that ” intelligent device”. The beauty of their BI planning is the availability of meaningful and informative ‘ Dashboard’ for the decision makers( BI, 2014). Liebowitz (2006) states that executives would be able to analyze data from all over the world from their Web browser—it would give them a dashboard for driving business at a high-level. According to Teradata. com (2014), a company that excels in data mining, a dynamic approach of all the current and real time data, it also provides historical data which is essential in building KPI and performance metrics thus helps decision makers to focus on their priority data that is critical for operation. Moreover, this approach allows them to have more robust and informative automated online reporting and meaningful dashboard which allows company’s managers to focus on analyzing data instead of spending time on creating reports.
References
Assessing The Business Process In Mcdonalds Business Essay. (n. d.). Assessing The Business Process In Mcdonalds Business Essay. Retrieved May 14, 2014, from http://www. ukessays. com/essays/business/assessing-the-business-process-in-mcdonalds-business-essay. php
Business Intelligence | BI | BusinessIntelligence. com. (n. d.). Business Intelligence. Retrieved May 14, 2014, from http://businessintelligence. com/
Communications LDM. (n. d.). Communications LDM. Retrieved May 14, 2014, from http://www. teradata. com/logical-data-models/communications/
Liebowitz, J. (2006). Strategic intelligence: business intelligence, competitive intelligence, and knowledge management. Boca Raton, FL: Auerbach Publications.
McDonalds Credits Business Intelligence for Recent Growth. (n. d.). CRM Magazine. Retrieved May 14, 2014, from http://www. destinationcrm. com/Articles/CRM-News/Daily-News/McDonalds-Credits-Business-Intelligence-for-Recent-Growth-43484. aspx,