Comment this Paragraph? Business Intelligence and Knowledge Management Organizat
ID: 414364 • Letter: C
Question
Comment this Paragraph?
Business Intelligence and Knowledge Management
Organizations are using business intelligence in order to help their employees and top business leaders make much better and informed business decisions in the workplace. When making better business decisions for an organization helps them to be able to cut back on costs, open up opportunities, and also point out different areas that might need to be re-engineered. Companies that make use of this business intelligence system will be able to accelerate their business processes, enhance the operation effectiveness, bring in new revenues, and also identify marketing trends in the industry. The tools from business intelligence are detailed and driven by data decision support systems and also the business people at these organizations will be able to analyze data in the organization their self rather than wait for IT to run the reports.
With knowledge management systems, will help to improve and update performances of all organizations. When running a business just like communication and data load, it is always important for business leaders to make decisions as well as build the business to cultivate a great company culture (Eisenhauer, n.d.). In order to incorporate knowledge management into your company, you must create a map or even assign one of your managers to come up with one that will give a step by step blueprint that shows where improvements should come from in the organization. All of this will start with a great understanding on ways that information will be communicated through the organization.
Data does not always guarantee better decisions in an organization simply because it really doesn’t matter how an organization get to where they are trying to go, having more data will not be sufficient. In order to promote data driven decision making you must start and end with leadership in the organization. All success in any company depends on leadership no matter what. When leaders lead by example they start to apply the insights from these assets data to important decisions for the company that will end up mattering.
Explanation / Answer
The above paragraph throws a very important point of the importance of leadership in institutionalizing data driven decision making. While it is very important to have proper tools, methods, adequate software and people with relevant skills to churn business data and provide intelligent and actionable insights to the corporate leadership, the important feature of institutionalizing these methods is how the leadership treats these methods and how much weightage is given to these methods in decision making.
It may so be the case that a company may the best tools and resources for doing business analytics and intelligence but the senior leadership still believes in taking decisions based on their gut and their sense of what is a correct business decision. Under such a scenario, the company will not evolve into a data driven company and business intelligence will only remain an add on without playing any relevant role in the decision making process. However if the senior leadership is committed and wants to transform the decision making paradigm from an ad-hoc and gut based structure to a formalized data driven approach wherein people are told and made to understand the merits of data driven decision making and also leadership is absolutely stern on having actionable insights before committing into any decision, then gradually the company will evolve into a data driven company which places a lot of information on data and knowledge available within and outside the enterprise.