Performance Management with Business Intelligence

Abstract

In today's highly competitive business, the quality and timeliness of business information for an organization is not the choice between profit and loss, it is a question of survival or bankruptcy. No business organization can deny the inevitable benefits of business intelligence. Business intelligence takes the advantage of already developed and installed components of IT technologies to help companies leverage their current IT investments and use valuable data stored in ERP or legacy systems. Business intelligence software can be a transformational asset for organizations. It can eliminate much of the guesswork within organizations, enhance communication and joint planning across functions and lines of business, and enable organizations to respond much more quickly to changes in financial conditions, customer preferences and supply chain operations. Specialists assess the use of business intelligence will become so widespread that every desktop will have a BI icon. Business intelligence will become an integral part of an enterprise's information system and, like word processing software, it will be used by almost all end users. Gartner Dataquest estimates a 2.3 billion dollars global market in 2005 and an 8.2% growing rate for 2005-2007. It is expecting for business intelligence to spread its wings to cover everyone, from small, medium, and to large companies - we will show that the Romanian market is also reactive to this trend.