Many companies now use Business Intelligence as a key technology. Although some companies still use the reliable transaction processing systems to gain business data, others prefer database and application design technology. Companies that serve competitive markets benefit from a wide range of business information. Business intelligence does not just include gathering information. This includes the proper dissemination and channeling of information. It could also include analysis of the data collected. The balanced scorecard, or business intelligence BSC, is a comprehensive guideline for evaluating your business intelligence processes and capabilities. Buffered BI
Data gathering is an important aspect of business intelligence. The scorecard can help you assess how efficient your system is at gathering the data you need for your business. Both data gathered via the internet and those derived from document research have equal weight. Not only will the scorecard determine the effectiveness of your methods, but it will also show how useful the data you have gathered. It is a different story how you manage the huge amount of data that you have accumulated. The scorecard includes data management as a perspective because it is crucial that the information is properly stored and protected. Data should be accessible to those who have permission to view or use it, but should also be protected from unauthorised persons.
ETL is another important aspect that is graded on the scorecard. ETL refers to a set of processes involved in data warehouses. E stands for extracting information from external sources. T stands for transformation of data to attain a certain quality that can be used to meet your business needs. The final step in the cycle is L, which is the loading of the data into the warehouse. These three steps are vital for business intelligence. Business Intelligence
The scorecard also grades Production Management and Support. Business intelligence is the end product of data. It shows how your data will be used in production and how it will benefit management. These data are collected for company use. Production management and support should be able to benefit from the data. The scorecard provides guidelines for assessing organizational roles and responsibilities in business intelligence. Manpower is essential for the entire process. All aspects of data management require human effort. To ensure efficiency and focus within their respective organizational roles, each process should be assigned to different people.