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MIS781 Business Intelligence Assignment
Today the advent of knowledge and science is on extent to make the dimensions and diversity approach in the corners of the operations to develop the environment of working business on the verge and extent of effectiveness and efficiency. Business Intelligence is the modern tool in the industry to sort out the business problems, develop the quality in the business and maintain the level of operations in making the business approach potential growth and accomplishing the business targets. In this report we have developed the intelligence of business related with the available tools which change the mechanism effectively and helps the business in their turn around times and profitability. We have taken Walton Supermarket as an example as they are facing the competitive rivalries problems and hence we have prepared dashboards with the help of the tools like IBM Cosmos or other Watson Analytics tools which helps in mechanizing the process and develops the quality in the process.
What are the BI reporting solution/dashboards you will need to develop for the Senior Executives of Walton Supermarket? Develop the BI reporting solution/ dashboards based on the given Supermarket Transaction sample data file and IBM Cognos Insight and/or Watson Analytics tool.
The Walton Supermarket is one of the largest supermarket chains in USA with multiple platforms to sale their products on both online and offline stores. They are operating in multiple countries and have around 270 stores in all over the world. They have developed their process with the right approach of ethical practices and hence gained the competitive advantages in the above said segments.
Challenges in the business
The Walton supermarket business is facing severe challenges in the direction of the growth and its consistent declining revenues as available with the market forces and developed competitive rivalries. Business is facing severe reputation issues which can be resolved with the proper strategic planning and hence the approach they would undertake is been floated to the teams and consultancy groups (Wacks, 1946).
Here emerges the concept of the Business Intelligence which helps the business like Walton Supermarkets in turning and transforming their raw data in the meaning data with the dashboards and other analytical services making the clear vision and revising the targets of the organizations.
The business Walton Supermarket is in need of these mechanisms to improve the stability of the business in the market context and to utilize the raw materials in making the mode of operations verge with the effective principles to achieve and accomplish the organizational targets (Tonkinson, 2015).
With the help of the business intelligence tools the organization Walton Supermarket which achieves the following traits:
- The tools like IBM Cosmos and other Watson analytics tools helps the organization in developing their turn around times frequently decreased with one day to couple of minutes.
- They need not to employ large manpower to handle the work pressure and hence the process will automatically develop the quality as the functioning is moreover with the help of equipment’s and analytical tools.
- There is proper adequacy of the orders and accuracy in the involving process where the organization can segregate the customers easily(Tonkinson, 2015).
Several functions of the BI technologies and tools are as follows:
Reporting:First of all the BI tools helps the organization in developing the report and structures for the organization which helps them making the necessary evaluations of the process and detecting the defects and weakness to work over before the next assessment.
Data and process mining:BI tools and technologies help the business in mining the data which was relevant to the process for developing their quality and achieving the targets. These data are mined sometimes for the validity of the truth and knowing the cause of decline.
Business Performance Management:They are also involved in the process of the business performance management where they aware the operational teams with the latest changes in the industry and helps them to maintain the process on the standards.
Analysis:They are developing the operations on the track and analysing the defects and other parameters which should be considered in order to make the progress worth full and quality involved in the mechanism (Tonkinson, 2015).
Solution of BI in Walton Supermarket
The solution of BI in the Walton Supermarket is as follows:
Performance Metrics:The Business Intelligence helps the organization to develop the process effectively with the measurement and preparation of the performance metrics which makes the operations available with the healthy environment where innovations and strategic management approaches takes place. In the Walton supermarket the performance metrics will develop the quality and standards which will make the operational teams achieving them with the proper standards and making the benefits to the industry with their best and potential efforts.
Analysis:The BI tools in the Walton supermarket can help the organization in the analysis of the problems they are facing and the challenges they are encountering. With the successful development of the BI tools in the process in the form of the software’s or other business enterprise tools the organization can be achieving high potential growth by turning their turnaround times to lowest and making the divisions successfully eliminating the detected problems developing a strengthen mechanism and flexible business environment (Stutzer & Frey, 2010).
Walton Supermarket reporting:The business can be helped with the business intelligence reporting schedules primarily focusing the development and growth of the business and in the latter parts the problems and issues are classified according to their priority which should be eliminated first to make the viable and suitable approach the business in the industry and market context. Hence the Walton supermarket will develop the operations on the base of the reporting received. Another benefits of the reporting’s in the supermarket is track of sales which are numerous on a daily basis with the proper classifications in the business dashboards.
Management of knowledge:They are providing the organization the business knowledge which helps the business achieving the dimensional attributes and hence with the proper understanding of the features and legitimate occurrences they are able to devastate the principles of mechanism which makes the operational efficiency rise to a certain level making the organization effective and efficient (Steve Jackson, 2008).
With the above discussions we can recommend that Walton Supermarket is doing well in the approach of adopting the change management but it needs to consider the following points which are essential for the development of the process and organization. First of all they need to develop the proper motivational exercise as their employees will revoke at the time of change as the first principle of change is the person is resistant to change which makes him inconvenient in working with the changes platforms or software’s. Secondly they need to procure proper funding’s from venture capitalists or from their reserved to meet out the expenditures of the business intelligence tools (Reichel, 2003).
With the above understanding and conclusion we can conclude that Walton Supermarket is able to achieve the potential growth with the development of the proper and adequate business intelligence tools. In the verge of the business intelligence tools they can make the process available with the SAP packages which ensure the business growth and development with the data security and privacy. In this competitive world the data and information’s which are sensitive and personal to business is an important asset which should be safeguard at any cost and hence there should be a proper security which should ensure these aspects. BI tools solve these problems and hence Walton Supermarket should develop their mechanism to ensure security and develop the strategic management of business and its operations (Reichel, 2003).
Conclusion – (General)
With the above discussions we can conclude that business intelligence is the process making the development and strengthen the mechanism of the business. In the case of Walton Supermarket after the availability of the software’s like IBM Cosmos and other Watson analytics tools. The consultancy team has provided the solution for the development of the process to make the operations effective and dynamic accomplishing the business targets. The solutions provided above are helping the business in their growth and they should track the success to make the most benefits out from the quality. Though the mechanisms are costly and implementation makes the cost of operations expensive but the potential benefits it will be addressing in the span of months will be high up to an extent of 100 times from the cost in an year. The turnaround time is decreased to few minutes which was 1 day before. Hence all other business should also learn the proper impacts of the business intelligence tools to develop their business.
- Reichel, A., 2003. Hospitality crisis management practices: the case. International Journal of Hospitality Management,22(4), p. 353–372.
- Steve Jackson, R. S. G. J., 2008. Managerial Accounting: A Focus on Ethical Decision Making. Managerial Accounting,p. 2.
- Stutzer, A. & Frey, B. S., 2010. Recent Advances in the Economics of Individual Subjective Wellbeing. Institute for the Study of Labor (IZA),p. 4850.
- Tonkinson, R., 2015. Economic organization. Australian Aborigine People,1(1), pp. 1-4.
- Wacks, R., 1946. Privacy : a very short introduction.s.l.:Oxford University Press.