Digitalization, Sustainability and Development in Business. Business Intelligence - The Innovative Solutions for Business Sustainability, Equality, and Green Initiatives of Long-Term Organisational Performance
Abstract
Business Intelligence (BI) encompasses a suite of strategies, processes, applications, and technologies that convert raw data into valuable insights for business analysis. By aiding in informed decision-making, BI empowers organizations to enhance their competitive edge and streamline internal operations. It not only uncovers new prospects but also refines customer service and bolsters profitability. Through historical, real-time, and predictive perspectives on business operations, BI facilitates well-informed choices. Leveraging BI tools, businesses dissect consumer behavior, detect trends, and devise potent marketing tactics. BI amplifies comprehension of customers, rivals, and markets, leading to astute decisions that foster profitability. This study amassed data via a survey of 162 IT managers in multinational corporations within Malaysia. Employing partial least squares (PLS) through SmartPLS software, the analysis reveals that BI, along with its insights, contributes to effective management practices. Notably, the information requisites may shift based on the balance between uncertainty and ambiguity in an organization’s practices. Nevertheless, the research gap remains concerning the relationship between BI, its significance, and business performance.
Keywords: business intelligence, data analytics, data mining, big data
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