Article Review
Leveraging BI for Performance Management Comprehensive Nursing Essay Example
Summary
Chapter six of Leveraging BI for Performance Management, Process Improvement, and Decision Support (Willians, 2016) portrays Business Intelligence (BI) as an instrumental enabler of Business Process Management (BPM). The author delves into how well-designed Business Intelligence applications are utilized to improve management effectiveness and efficiency. Notably, the major traits of a BI-enable Business Process Management entail the accuracy and ability to include operational and financial information from various sources, tracking multiple business performance facets simultaneously, enabling sound decision making, and delivering role-based business performance views. Subsequently, managers and other business executives use Business Intelligence as a Toolkit for Business Process Improvement. In this case, business executives use analysis to acquire information to understand the current business performance. For instance, banks and other cash lenders use BI to find out about the individuals applying for loans. Banks and cash lenders use product-related business systems such as credit cards, deposit, and home equity systems to determine whether loan applicants have such accounts and their status. The article asserts that BI enhances Process Management Process (PMP) through improving business operations such as budgeting, planning, forecasting, communication, sharing of goals, and decision-making. BI assists business enhances operational business processes to avoid incurring unwanted costs and making losses, thus improving revenue generation. In this case, the BI-enhanced BPM system improves the managers’ ability to achieve business goals and objectives.(Leveraging BI for Performance Management Comprehensive Nursing Essay Example)
Critique
The article has enhanced my comprehension of the use of Business Intelligence to improve the Business Performance Management System. I have learned that BI-enhanced BPM System allows managers to achieve business goals and objectives that drive business towards enhanced operations capacity and maximum revenue generation (Chen & Lin, 2021). Of importance, I was fascinated by the author’s ability to use actual situations where business executives and managers encounter significant gaps in the Business Performance Management System. In one of the examples, the author highlights how a vice president in supply chain management lacked accurate and timely information on performance and marketing analytics such as customer service, product prices, and distribution channels. In this case, identified gaps in performance management limited the vice president’s ability to improve effectively, measure, control, and manage the supply chain business. The highlighted scenario played an instrumental role in understanding how Business Intelligence influences daily operations to enhance business performance. I liked the author’s ability to use diagrams to explain the use of performance scorecards to present performance variance. For that reason, I figured out that managers and business executives use performance scorecards to prioritize urgent issues affecting the business to devise timely solutions for improving performance.(Leveraging BI for Performance Management Comprehensive Nursing Essay Example)
Application
I will use BI-enhanced Business Performance Management System to effectively achieve organizational goals and objectives. For instance, I will use Business Intelligence to collect and analyze business information that will be instrumental towards maintaining and sustaining a market share in the competitive business world. Secondly, I will use BI for retail purposes. I will apply the acquired knowledge to predict demand and analyze the possible future fluctuations (Zamba, 2018). In this case, I will have the ability to optimize the size of my inventory to meet the customers’ demands. Essentially, Business intelligence will improve my understanding of consumer metrics such as determining and evaluating customers’ behavior to improve marketing campaigns and enhance consumer-supplier relationships. Business intelligence promotes the storage of information in data marts and warehouses (Fleckenstein & Fellows, 2018). For that reason, I will have timely access to a wide variety of information from a single point. The mentioned reason will enhance timely decision-making essential to prevent avoidable losses and possible delays in operations. In this case, the BI-enhance BPM system improves business operations through timely problem detection and effective solutions strategies.(Leveraging BI for Performance Management Comprehensive Nursing Essay Example)
References
Chen, Y., & Lin, Z. (2021). Business intelligence capabilities and firm performance: A study in China. International Journal of Information Management, 57, 102232.(Leveraging BI for Performance Management Comprehensive Nursing Essay Example)
Fleckenstein, M., & Fellows, L. (2018). Data Warehousing and Business Intelligence. In Modern Data Strategy (pp. 121-131). Springer, Cham.(Leveraging BI for Performance Management Comprehensive Nursing Essay Example)
William, S. (2016). Leveraging BI for Performance Management, Process Improvement, and Decision Support.(Leveraging BI for Performance Management Comprehensive Nursing Essay Example)
Zamba, C. R., Mahlangu, G., Giyane, M., & Rebanowako, T. G. (2018). An Investigation of the Potential Benefits and Challenges of Business Intelligence Adoption in the Retail Sector in Gweru, Zimbabwe. Journal of Systems Integration (1804-2724), 9(2).(Leveraging BI for Performance Management Comprehensive Nursing Essay Example)
Write From Scratch