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Business Intellegence and Business Success in The Digital Era

Diperbarui: 27 Oktober 2023   13:35

Kompasiana adalah platform blog. Konten ini menjadi tanggung jawab bloger dan tidak mewakili pandangan redaksi Kompas.

Ilmu Sosbud dan Agama. Sumber ilustrasi: PEXELS

Introduction

BI or Business Intelligence is a profession whose job is to process and analyze data related to business so that it can help companies make the right decisions. The final results of this process include industry needs, profit figures, appropriate marketing strategies and other decision makers. An analyst can utilize business intelligence to provide performance and competitor benchmarks to make the company run smoother and more efficiently. Analysts can also more easily see market trends to increase company sales or revenue. If in business institutions, business intelligence is used to improve performance through choosing the right business strategy, then in non-profit institutions, business intelligence can be used to improve company performance through increasing the efficiency of work implementation so that in the end there will be improvements in services to the community and budget management. In this digital era, online business has many advantages compared to offline business. So, if online business actors do not try to be creative and innovative, their businesses will be far behind new business actors. Sales information systems for measuring revenue performance, stock price charts, and almost all applications that have dashboards are applications of business intelligence. Almost all digital business platforms in Indonesia already use BI technology. MSME businesses also need to be encouraged to use BI technology so they can see developments in market segmentation and increase sales. Meanwhile, for startup businesses in Indonesia, on average they already use BI dashboards in their business application processes.

DISCUSSION

Business intelligence can help companies make better management decisions based on current data or data from past periods in their business context. An analyst can utilize business intelligence to provide performance and competitor benchmarks to make the company run smoother and more efficiently. Analysts can also more easily see market trends to increase company sales or revenues. The benefits of business intelligence for companies are as follows:

a.Identify ways to increase profits

b. Analyze consumer behavior

c. Comparing data with competitors

d. Track performance or track performance

e. Optimizing the Company's operational processes

f. Predict the Company's success

g. Look at market trends

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