Business Intelligence Plan
The purpose of this report is to explain the importance of Business Intelligence and all of its components for implementation into the business structure. During the recent years obtaining useful information in real time has become something that is extremely important, if not even a critical, factor of success for companies. The time managers have available for use in making business decisions has been reduced dramatically. Competitive pressures are now requiring that businesses make intelligent decisions based on their incoming business data, and these decisions must be made immediately (Business Intelligence and Data Warehousing, 2005, p.5; Hocevar & …show more content…
Also, in order to create a Business Intelligence environment you would need to build an analytical data warehouse for managers. In many institutions, the most important decision metrics are calculated based on information obtained from numerous systems (Mircea & Andreescu, 2009).
An industry that could and probably does benefit from the application of business intelligence would be Industrial-Organizational (I/O) Psychology. Psychological research is riddled with data that is essential to the outcome of the research being done. Data analytics and data quality is essential to research. In doing research there is much value that can be derived from the use of business intelligence. Because one of the components is data analytics this adds direct value to the research. Research is a compilation of data that is used for validating theories. Industrial-organizational psychologists help companies bring about compliance and raise employees’ productivity in the workplace. They will also focus on the operation and design of organizations (Feldman, 2013).
The scientific method in psychology require that the approach used by psychologists to systematically acquire knowledge and understanding about behavior and other phenomena of interest is done in a way that can be explained, seen, and proven with more accuracy (Feldman, 2013).
The potential value that could