This slidecast explores the topic of business intelligence. In it I will try to answer what is business intelligence, identify tools businesses use to gather this intelligence. I will also discuss components of a business intelligence system as well as current trends in the development of such systems. Lastly, I will outline some of the implications such system has on auditors and executives.
2. Topics Covered
What is Business Intelligence?
Tools of Business Intelligence
Current Trends of Business Intelligence Systems
Impact of Business Intelligence Systems on Auditors
Implications to Executives
3. What is Business Intelligence?
There are many definitions for business intelligence
Intelligence – ability to learn and adapt
In the age of information, businesses need adapt
4. Tools of Business Intelligence
Business intelligence systems
Combine data with analysis
Have many functions
Vital to a business’s success
5. System Components
Data Warehouse
Convert data to useful format
Store data
Retrieve data
SCM
Supply Chain Management
Monitors production process
Inventory level
Logistics
Demand forecast
6. System Components
CRM System
Customer Relationship Management
Evaluate marketing campaigns
Record customer traffic
Analyze customer preference
Identify consumer base
Loyalty programs
ERP System
Enterprise Resource Planning
Core of business intelligence
system
Pull information for all sources
Coordinate all functions
7. Current Trends – Data Volume
Advancement in technology enable faster processing
New ways to gather data
Companies not able to harness data collected
Need for organization of data
Filter out noise
8. Current Trends – Semi-Structured Data
News, e-mails, blogs, pictures
They provide useful customer information
Companies can quickly identify new trends
No efficient way to organize or process these data
9. Impact on Auditors
Need to understand impact and risk
Gain understand of controls in place
Example frameworks: COSO and COBIT
Assess design and effectiveness of controls
Need for IT expert
High competency requirement
Need for efficient audit planning
10. Implication to Executives
Offer many functionalities and features
Benefits can greatly outweigh costs
Large upfront investment
Feasibility analysis
Hidden costs
Maintenance costs
Quantification of benefits
11. Bibliography
Amacei, C., Popa, M., & Toma, C. (2009). Characteristics of the Audit Processes
for Distributed Informatics Systems. Informatica Economica, 13(3), 165-178.
Boritz, J. E. (2011). Computer Control & Audit Guide (15th ed.). Waterloo, ON:
University of Waterloo.
Capps, C. & Wright, M. (2012). Auditor Independence and Internal Information
Systems Audit Quality. Business Studies Journal, 4(2), 63-83.
Chen H., Chiang, R. L., & Storey, V. C. (2012). Business Intelligence and
Analytics: From Big Data to Big Impact. MIS Quarterly, 36(4), 1165-1188.
Gaidelys, V. (2010). The Role of Competitive Intelligence in the Course of
Business Process. Economics and Management, 1165-1188.
Ghilic-Micu, B., Mircea, M., & Stoica, M. (2010). The Audit of Business
Intelligence Solutions. Informatica Economica, 14(1), 66-77.
12. Bibliography - continued
Intelligence. (n.d.). In Merriam-Webster online. Retrieved from http://www.merriam-
webster.com/dictionary/intelligence
Işık, O., Jones, M. C., & Sidorova, A. (2013). Business intelligence success: The roles
of BI capabilities and decision environments. Information & Management, 50, 13-23
Jaklic, J., Popovic, A., & Turk, T. (2010). Conceptual Model of Business Value of
Business intelligence Systems. Management: Journal Of Contemporary Management
Issues, 15(1), 5-29.
Lopez, J. A. (2012). Best Practices for Turning Big Data into Big Insights. Business
Intelligence Journal, 17(4), 17-21.
Negash, S. (2004). Business Intelligence. Communication of the Association for
Information Systems, 13, 177-195.
POPESCU, S. (2012). Business Intelligence Solutions - a Way of General Improvement
of Efficiency and Effectiveness. Review Of International Comparative Management /
Revista De Management Comparat International, 13(1), 88-95.
Editor's Notes
Jaklic, J., Popovic, A., & Turk, T. (2010). Conceptual Model of Business Value of Business intelligence Systems. Management: Journal Of Contemporary Management Issues, 15(1), 7.
Chen H., Chiang, R. L., & Storey, V. C. (2012). Business Intelligence and Analytics: From Big Data to Big Impact. MIS Quarterly, 36(4), 1165.POPESCU, S. (2012). Business Intelligence Solutions - a Way of General Improvement of Efficiency and Effectiveness. Review Of International Comparative Management / Revista De Management Comparat International, 13(1), 88-95.
Lopez, J. A. (2012). Best Practices for Turning Big Data into Big Insights. Business Intelligence Journal, 17(4), 18.
Negash, S. (2004). Business Intelligence. Communication of the Association for Information Systems, 13, 180.
