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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
 
 
 
 
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
 
 
 
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Phases of Business Intelligence  

Phases of Business Intelligence



 
 

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Business management software
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VIP Task Manager
Task management software
for teams & small offices
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All Travel Checklists

new CentriQS -15% OFF
Business management software
for small & midsize enterprises

Play Demo

VIP Task Manager
Task management software
for teams & small offices
Play Demo / Download

Business Intelligence (BI) is a process of growing the competitive benefits of a company by intelligent applying of available data in decision making. By Business intelligence is often meant a software program for the assistance to the business management to increase profits. BI allows to find where the company loses money or where it is possible to earn more. So, expenses on BI should be comparable to the company plans to earn or save.

There are five main phases of Business Intelligence:

  • Data Sourcing
  • Data Analysis
  • Situation Awareness
  • Risk Assessment
  • Decision Support

Data sourcing

Business Intelligence is aimed to collect information from multiple sources of data. The information can be extracted from: text documents (e.g. notebooks, emails, reports, etc.), pictures and photos, sounds, tables and schedules, web resources and URL lists. The main idea of data sourcing is to obtain the information in electronic form.

Data analysis

Business Intelligence is aimed to apply benefits from collections of data. The process of data analysis is also called data mining. On this phase BI is about to estimate ongoing trends, integrate disparate information, validate and predict missing information or future trends.

Situation awareness

Business Intelligence is aimed to filter off all irrelevant information, and then use the remaining information for the best business performance. The manager requires the relevant data (market forces, government policy, competitive advantages, etc.) in order to understand and make right decision.



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Risk assessment

Business Intelligence is about to reveal what probable actions might be taken or decisions made at different times. It is about to help you assess the current and future risk, cost or benefit of taking one action over another. On this phase BI is intended to conclude your best options or choices.

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Decision support

The main idea is to apply business intelligence for comprehensive usage of the business information. It aims to warn the company of important events, such as market changes, defects, production decreasing, poor staff performance, so that the managers can take preventative measures. It provides the company with the basis for analyzing and making better business decisions to improve sales or customer satisfaction. To put it simply, decisions support represents the information the manager needs, when he needs it.

Phases of Business Intelligence

VIP Task Manager provides a comprehensive set of business intelligence capabilities and applies tools to create a complete and easy-to-use business intelligence solution. VIP Task Manager fits requirement of the organization management as well as its personnel. The managers spend less time managing the business processes, and personnel spend less time executing tasks, so more time is spent on making better and more informed decisions. VIP Task Manager allows you to analyze the past, monitor the present and forecast outcomes as you move your business ahead.

Better time management is not the only advantage that gives VIP Task Manager. The software creates grounds for improvement of employee task performance and better task planning. Managers get full control on task lists performance of an employee and can make analysis for future planning.

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All Travel Checklists

new CentriQS -15% OFF
Business management software
for small & midsize enterprises

Play Demo

VIP Task Manager
Task management software
for teams & small offices
Play Demo / Download

 
 
 
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