Data‐driven decision making for the enterprise: an overview of business intelligence applications

Abstract

PurposeThe purpose of this paper is to inform the knowledge worker about Business Intelligence (BI) – its origins, value in decision‐making processes, and currently available BI applications.Design/methodology/approachThe paper discusses the evolution of decision support systems (DSS) and their close relationship with the business intelligence arena. Open source and commercial BI products are also identified.FindingsThe data that are accessed by BI applications must be accurate if managers of knowledge enterprises are to make informed decisions. Effective partnerships for business and information entities should be observed when BI tools are introduced to an enterprise. Buy‐in from top management is absolutely necessary for the successful implementation of BI tools.Originality/valueThe use of BI applications aids a knowledge enterprise by promoting efficiency within an organization, particularly by using analytical methods to provide valuable decision‐making knowledge to minimize operating costs and to accurately forecast market trends.