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In today's business environment, for organization to plan their strategy they need to consider the pressures and challenges caused by the business environment in order to thrive in the global digital economy, this involves the collection of information from the customers, competitors, market environment, data about their products and the environment generally which is later analyzed and transformed into some meaning for decision making
I have chosen this literature because it examined the impact of systematic business information acquisition and analysis (Business Intelligence) focusing on Finnish large-scale companies in 2002 and further suggests future empirical studies on this research and nature of information and knowledge in companies because it was obvious in this publication that some organization cannot still identify the importance of BI in their organization.
THE AIM OF RESEARCH CONTEXT
Over the years many managers have depended on business intelligence for decision making in organizations and quite a lot of investments have been made on BI for improvements, Business Intelligence accomplishments have increased considerably in Finnish companies, although the way many managers and Individuals responsible for BI activities perceive the impact of BI in their various organization is different.
This paper defined BI as organizing and systematic processes which are used in acquiring, analyzing and disseminating information for business decision making.
The goal of this paper is to examine the major impacts of BI in large-scale companies of Finland; hypothesis of this publication was to examine the state Business intelligence in large-scale companies in Finland, what roles it has played and study how different organization manager and BI users perceive BI in different ways by examining the initiation and organization of Business Intelligence Activities and the coming prospects regarding BI in the companies interviewed
The objective of the publication was to find out how common BI activities really are and how it is currently being applied in large-scale Finnish companies and survey the key areas of development in BI activities, benefits gained from it as at 2002 and the future outlook for the field examined.
According to the authors as at the time of publication, most firms in Finland think of BI activities as a process focusing on monitoring the competitive environment around them and most studies on BI has proved to be fairly sketchy and theoretical because there are no generally agreed conception of BI but, rather, each author has promoted his or her own idea of its connotations. According to this research, business success is more than just the competitive environment. A company must be able to satisfy its core business agenda and, secondly form a product entity that is successful among the customers and one of the factors is the business environment.
The success of organization in Finland appears to be the ability of management to be able to predict any changes and make decisions based upon flawless real-time information gathering and analysis of the major factors listed above, BI has played a major role in Finland although it is not new, some companies are new in the practice of BI as a method that helps in decision making but they have a better future outlook and perceive the opportunities it could bring them in the business environment.
This research is exploratory in the sense that It attempts to describe and explain conditions of BI in large-scale Finnish companies by using many subjects and questionnaires to describe the phenomenon, the authors generates basic knowledge, and identified the problems to be researched which is to examine how common BI activities really are and how it is currently used in large Finnish companies, future prospects concerning BI, key areas of improvement in BI activities, benefits gained from BI and the future prospects and the final outcome was that BI has played a major role in Finish large companies and there are positive future outlook.
DATA COLLECTION METHODS
The authors have used qualitative primary data collection methods by first observing and noting the effect of BI in Finnish large scale companies and after defining the hypothesis, a survey was conducted by using questionnaire and interviews based on awareness, attitude, knowledge, practices and opinion from interviewees to gather information which is used to answer the related questions and analyzed for an outcome, The 46 participants of the top 50 Finnish companies researched in this study were categorized by their industry: (1) manufacturing, (2) trade and services, and (3) information and communication technology (ICT) and telephone-interviews were conducted with representatives from these organizations.
In addition to the interviews, cover letters and questionnaires were sent in advance to the interviewees to collect qualitative data that were used for analysis.
OUTCOME OF THE RESEARCH
Business Intelligence as a concept is becoming more common in everyday business life. Presumably, BI activities will also become more systematic within the companies as the emphasis on business information acquisition and analysis increases.
The result of this research showed that BI activities in ICT sector are quite young but widely used in the manufacturing, trading and services sectors, the results also proved that the main reason behind the implementation of BI in these companies is simply because they have realized a need for enhanced information and knowledge to support their planning and decision-making, in addition to that, Finnish companies already have a feeling that BI is a crucial element for competitive business operations and also have a future outlook of BI as a tool for controlled management of businesses and believe that investment in it will increase in the near future.
High number of companies have systematically organized BI activities, although they have different reason behind the implementation, some see it as tool to obtain knowledge about the business environment and its development to support operative action and some have embarked on the activities because it has become a prerequisite for maintaining their competitiveness.
With the outcomes mention above, the authors came out with a conclusion which gave an answer to their hypothesis that, BI activities really have become common in Finnish large-scale companies. These companies, most of them operating in a global market place, do invest to achieve sophisticated BI applications in order to achieve better competitiveness through better decision making. Although the BI related terms and practices have not yet become very well established in companies, Business Intelligence appears to be the most popular term for systematic business information acquisition and analysis in Finnish large-scale companies. According to the results of this study BI will become even more common in the future. Companies don't care about the cost because the results are not tangible and a lot is achieved from the implementation of business intelligence activities.
ADDITIONAL KNOWLEDGE GAINED
By reading this article I have come to realize that Business intelligence had long existed than I ever thought, I also understand what BI really means and how important it is in the business environment, it is essential in creating new products and refining business operations. Business Intelligence (BI) plays a central role in producing up-to-date facts for operative and strategic decision-making.
I gained some insight of where BI is heading and the necessary area where developments needs to be made, in addition, I understand that different BI users uses it for different purposes and have different perspective for it, I can also understand that the amount of information available is increasing along with advances in information and communication technologies and makes it difficult to sift what is relevant from such an overload of information, therefore there is need for proper acquisition and use of information.
This article shows that business intelligence is not just all about gaining advantage in the Business environment, It also incorporates people, processes, and also the knowledge as an end product which helps in making decision within the organization, I deduce from this article that the use of BI for decision making is not left with the BI experts alone, the managers are also involved to make proper decision.
Finally I can understand BI related terms and practices have not yet become very well established in companies in Finland as at 2002 but it appears to be the most popular term for systematic business information acquisition and analysis in Finnish large-scale companies.
IMPLICATIONS FOR FURTHER RESEARCH
Further research should be done on understanding of business information needed, how it can help in business environment and where to allocate resources because it is clear in the research that an important part of the information needs in companies is very difficult to express explicitly, companies have implemented the use of BI for different reasons.
Because advances in information and communication technologies result to organizations getting overloaded with information even more than they need, there is need to ensure data quality to know what data is needed for decision making, research should also be done on designing a framework that will help organizations in ensuring proper data quality which is needed for their decision-making and desired goals to develop and maintain organizational strategy.
Different stage of business intelligence
I feel what needs to be included when writing a science paper depends on the requirements of where the paper needs to be submitted, as far as I am concerned with this publication, I think it is a good scientific paper because it has all sections that should be included in a scientific publication and well structured. It has a title that describe the title of the paper, the authors and affiliation institution, an Abstract that summarizes the paper, Introduction which states the purpose of the paper, In addition it has it's methodology that describes the key terms, research instruments plus processes used in conducting the study.
Of course one of the main reason of conduction a research is finding a result, this publication has a results where findings are reported, it also discusses the report outcomes, sharing thoughts and analysis of the results and last but not the least it has the conclusion section where the authors reflect the original purpose of the literature from the introduction, answered a few questions, but suggested pursue in future research projects, at the end it has a list of reference that presents relevant studies discovered during the research
Despite the good structure of this publication, I think it lacks some contents that a good scientific publication should have, I can see some charts in the publication which were drawn based on the facts gotten from interviews and questionnaire but the authors did not include sets of data that were analyzed to come up with this charts in the report.