Hello Justin

docx

School

University of Phoenix *

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Course

RES/710 ED

Subject

Management

Date

Feb 20, 2024

Type

docx

Pages

Uploaded by CaptainFire10939

Hello Justin, You wrote, I think there are several ways having the data business intelligence will help a organization. It will help identify benchmarks for the leaders within the organization and identify the area in which they could possibly improve on. I think you made a valid response on how Business Intelligence impacts day-to-day business practices. Business Intelligence (BI) solutions are becoming an essential part of every company's operation. They enable businesses to transform massive amounts of data into useful insights. Organizations use BI to identify company trends and implement processes to simplify various activities and services. Business intelligence refers to the ability of an organization to make informed judgments, choose measured actions, and implement proficient business progressions, (Sutton & Wakefield, 2018) By utilizing BI effectively, the organization gets access to actionable data, gains valuable insights into industry trends, and enables a strategic decision-making approach. Below are some departments where the use of BI has increased. • A business intelligence (BI) solution allows your organization’s marketing team to develop better marketing campaigns with a higher return on investment (ROI) through easy access to data from current and previous campaigns. BI solution also provides essential campaign metrics like customer acquisition cost (CAC), cost per lead (CPL), and campaign click-through rates (CTR) required for a successful marketing campaign, (Dan-yi, & Omar, 2022). • Finance departments can benefit from BI by having crucial and in-depth insights into financial data. BI can also be used to track quarterly and annual budgets, identify possible issues before they have severe consequences, and improve the overall business health and financial stability of a firm, (Huang & Savita, 2022). References: Huang, Z. X., Savita, K. S., Dan-yi, L., & Omar, A. H. (2022). The impact of business intelligence on the marketing with emphasis on cooperative learning: Case-study on the insurance companies. Information Processing & Management, 59(2), 102824. Peters, M. D., Wieder, B., Sutton, S. G., & Wakefield, J. (2018). Business intelligence systems use in performance measurement capabilities: Implications for enhanced competitive advantage. International Journal of Accounting Information Systems, 21, 1-17.

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