Economic Insights – Trends and Challenges
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Implications and Directions of Development of Web
Business Intelligence Systems for Business Community
Petroleum-Gas University of Ploieşti, Bd. Bucureşti 39, Ploieşti, Romania Academy of Economic Studies, Bucharest, Romania
The concept of business intelligence has evolved in recent years, from yesterday solutions for transmitting information on company intranet and data management systems to today strategic tools, highly integrated offering support in daily decisions taken by management to achieve objectives. This paper details the architecture of business intelligence solutions, the stages of development and implementation within a company. We discuss the implications of implementation of IA solutions for business community and trends in recent years in this field.
Key words: Business Intelligence, web intelligence, data warehouse JEL Classification: A12, M15, L21
Business Intelligence (BI) is a concept that evolved in the last two decades, referring to support technologies for the organization and economic organizations operation and management. The concept of Business Intelligence implies the existence of operational databases, systems of decision assistance and applications platform that facilitates access to economic information to persons involved in business management. Through a process of acquisition and analysis of multiple sources of information, Business Intelligence systems help to substantiate decisions in a company. BI platforms incorporate multiple technologies: multidimensional analysis, data mining, knowledge management and assist decision making by providing: trend forecasts, reports, graphs and analysis as result of querying the system.
Concepts and Benefits of Business Intelligence Systems
Currently, any company that wants to be competitive in the market has implemented a computerized system for the management of activities, based primarily on financial accounting activities. The most popular systems used in organizations today are resource planning systems (ERP - Enterprise Resource Planning) and customer relationship management systems (CRM Customer Relationship Management). These systems are not sufficient; it is only the first step to implementing a decision support system. These systems, called operational or transactional, facilitate a number of operations within a company (data entry, inputs and outputs management,
Implications and Directions of Development of Web Business Intelligence Systems for …
production processes, invoices) but the reporting tool is not very advanced (usually we can obtain inventory reports, charged invoices / collected invoices, clients, expenses, sales by customer size). If for small companies this information is sufficient, they cannot respond to more complex issues such as profit margin of a product over time, reduce operational costs without affecting performance, streamline production and distribution, volume of business with one provider or performance achieved by distributors. In the current economic climate, where the economic recession has focused on achieving maximum performance with minimum costs, obtaining such answers to support decision-making process has become more important. So, in such conditions, a system is required to facilitate access to information necessary for those involved in decision making, to ensure easy interaction with data and complex analysis and generate reports easily and in a short time.
The concept of business intelligence has evolved in recent years, from notion which accounted for solutions of transmitting information in company intranet and data management systems (CMS - Content Management System) to what today are strategic tools, offering highly integrated decision support for daily actions taken by management to achieve objectives. The BI process...
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