Overview
Organizations
that strive to remain successful and retain their competitive edge must embrace
relevant technologies and business intelligence (BI). The technologies and BI give
enable organizations to transform data into meaningful inputs for policy and
strategy decisions. Bill operates a small company that ships fresh fruits
across international boundaries. Bill deals with perishable products thus the
need to deliver the fruits within the shortest time. Bill needs technologies
and BI that will enhance communication, delivery and distribution of the
fruits. Business intelligence and technologies provide businesses with in-depth
knowledge on critical factors such as customers, competitors, business
operations and the economic environment.
Business Intelligence: Overview
Business
intelligence represents a data analysis process that enables business owners
and executives to make informed business decisions. In the business circles,
business intelligence carries two different meaning. The first meaning
represents the human intelligence capacity that exists in businesses. The human
perspective of business intelligence focuses on the application of cognitive
abilities and technologies to the management. The second meaning of business
intelligence relates to the information valued for its monetary value and
relevance. Valuable information is expert information, knowledge and
technologies that are necessary for the management of businesses (Ranjan,
2009). Business intelligence implies having a comprehensive breadth of
knowledge of factors that influence an organization’s performance.
Business
intelligence provides users with actionable information that business owners
can use to determine the company’s direction. Business intelligence (BI)
comprises of a diversity of tools and applications that business owners can use
to collect internal and external data. The business owner uses the data to
generate analytical results that are ideal for making decision in the direction
of the organization. Business intelligence provides users will several
potential benefits. First, business intelligence programs help in the
acceleration and improvement of decision-making
Organizations
gather accurate data over time and the management uses the data to make
effective decisions. Business owners can extrapolate information from the
external environment and make accurate forecasts on the future trends and
economic conditions. Business intelligence also enhances operational
efficiency. Business intelligence acts like a crystal ball that allows the
businessman to evaluate the current position of his business as well as make
effective predictions on the best course that the organization can take.
Moreover, business intelligence also helps organizations to realize new
revenues and gain a competitive gain over competitors in the same industry
(Olszak, 2014). Business intelligence can also assist an organization to
recognize market trends and identify problematic areas within the organization.
Data that business owners gather can include historical as well as current
data.
Business Intelligence and the
shipping industry
BI
enables organizations to focus on their customers at an in-depth level so as to
retain customers. Organizations that embrace business intelligence can
accelerate the speed of distributing goods to the respective customers and
suppliers. Additionally, the organization can use and analyze the data gathered
so as to gain a competitive advantage. Bill requires the online analytical
processing (OLAP) as part of his business intelligence. OLAP is a computer
system that enables a user to extract and view data from different
perspectives. Bill can use OLAP to make a comparison of data, for instance,
sales over a period. Bill can also use OLAP for data mining. OLAP operates with
a moderate database that comprises of data relevant to the business
transactions. Bill can use systems such as the open data connectivity to export
data from different databases to a multidimensional database for OLAP (Horkoff
et al. 2014).
The
integration of business intelligence in the shipping business can enable
organizations to improve service efficiency. Business intelligence can help
Bill to improve the effectiveness of his services. The integration of different
applications into the business allows Bill to generate huge amounts of data
that he can use to analyze his operational processes. The analysis of
operational processes would enable bill to detect areas that require adjustments
and minimization of expenses. Bill can also adopt BI intelligence that he can
use to measure financial performance. It is critical for Bill to conduct
regular financial assessment t determine the financial direction of his
shipping company.
Bill can monitor the financial health of the
organization and establish areas that require adjustments so as to boost the
company’s financial health. Bill also needs to implement performance
improvement system as part of his business intelligence. The performance improvement
system will enable Mr. Bill to develop his company’s bottom line. Additionally
Bill will have better control over processes within his shipping company. Bill
will use the system to manage his employees and ensure they demonstrate maximum
output in terms of productivity. Business intelligence also involves the
management’s ability engage in active profit management profitability
management and analysis empowers users to analyze the performance of partners,
suppliers and collaborators (Olszak, 2014). Profitability management and
analysis enables business owners such as Bill to evaluate risk trends and make
profitability forecasts.
Bill’s
shipping company could also use mobile business intelligence. Mobile business
intelligence refers to the ability, to access data and reports through mobile
devices. Bill transports fresh fruits across the world thus the need for him to
stay in touch with his suppliers as well as customers. Bill can also liaise
with distributors and supply chain partners to acquire data on the progress of
fruit deliveries as well as the availability of fresh fruits when required.
Mobile business intelligence will enable Bill to keep in touch anytime
anywhere. Mobile business intelligence has become popular because of the
consumerization of IT. Bill can use his mobile applications to sources for the
best supply of fresh fruits from within and across the world. Bill can also use
mobile business intelligence applications to manage his finances. The
convenience of having mobile application is that Bill can access and manage his
financial reports, book reservations and sources for new markets from any
location. Bill can also use the mobile business intelligence to make
confirmations of payments upon the sale or delivery of goods.
The
fresh fruits shipping company can also benefit from corporate performance
managements as a critical component of business intelligence. The corporate
performance management enables the business owner to conduct an aggregate
assessment of the organization’s performance. For instance, the entrepreneur
can calculate the financial metrics based on the analysis of sales and profits
across a specific timeframe. The platform also enables the management to assess
organizational learning and the growth metrics. Bill can utilize the corporate
performance management to simplify the practice of assessing the organization’s
performance. It is through effective assessments that the businessman can draw
well-thought decisions, in the direction and the future of the business (Ranjan,
2009).
Technologies for the Shipping
Company
The
shipping industry integrates a significant number of technologies to enhance
operations. The management must be abreast with new technological inventions
aimed at improving service provision. Bill’s shipping company requires
technologies that will enhance activities such as planning, managing, tracking
and securing of shipment. Companies engaging in international shipping must
embrace technology as the shipping process involves a diversity of complex
processes (Horkoff et al. 2014). Additionally, the business of international
shipping requires technologies that guarantee prompt solutions and subsequent
continuity of the business.
Bill’s
shipping company must focus on several critical areas of technology. First,
Bill should focus on automation i.e. the digitization of processes to ensure to
enhance and hasten the shipping process. The adoption of automation tools will
ascertain that the company get into the virtual space of business and engage in
effective management of customer’s requirements. Automation tools enable the
shipping company to engage in prompt country-to-country comparing thus ensures
that fresh fruits are sold at the appropriate selling price. The automation
tools also enable the business owner (Bill) to record and store his shipment
documentation forms, in a secure place. Bill must have all essential
documentation for his business to enhance his ability to make follow-ups and
also make a comparison of sales across a specific duration.
Secondly,
Bill must concentrate on enhancing security i.e. ensuring that the shipments
are safe and secure. Bill’s business thrives on the basis of his ability to
provide his customers with fresh fruits irrespective of their location. For
instance, Bill requires a monitoring and tracking device that will ascertain
that Bill can monitor his shipments from the main office. An ideal example of a
tracking and monitoring device that Bill and his shipping company can use is
the RFID tags. Bill can employ RFID technology that will work with integrated
sensors to build a secure tracking system (Todorovic, & Lazarevic, 2014).
Security
also entails ensuring that the fresh fruits shipping company is protected from
fraud. Businesses that operate on an international platform need to secure
their payment systems and ascertain that they do not fall victim to fraudsters.
For instance, Bill can adopt the credit fraud protection technologies to
protect itself from the risk of fraudulent exchanges and payments. A shipping
company that operates on an international platform must also embrace electronic
billing as a critical type of technology (Ciano, 2012). Electronic billing
technologies allow the shipping company to make direct payments to its
suppliers. Additionally, the billing system allows the customer to make direct
payments to the shipping company. Bill can also consider the use of Global
Positioning Systems (GPS) as a navigation system that tracks the containers
during shipping. Bill can establish the precise location of his shipment in
case the need arises.
Bill
also needs to embrace the World Wide Web as a platform for reaching out new and
existing clients. Bill may be using the World Wide Web to source fresh fruit
supplies, but he needs to establish his own website so as to connect with a
wide network of people. Bill can establish an interactive web page for his
shipping company. The web page will be a communication platform as well as an
advertisement platform. The existence of an interactive website enables the
company to engage in active interaction with the suppliers, customers, and
distributors. An active web page also allows the business owner to answer
queries and respond to complaints that relate to the business. An active web
page can also serve as an ideal platform for the shipping company to market
itself as a rising leader in the shipping industry. The company is young thus
the need to remain aggressive in its advertising so as to attract additional
customers. The website can contain offers and discounts so as to woo new customers
to the company. Overall, the shipping company must strive to establish a web
page that serves as a one-stop shop for current, new and potential customers.
The web page should provide adequate details such as the shipping options and
cost and the ability of the customer to track his shipment. Customers feel
drawn to companies that provide them with the convenience they desire.
The importance of business
intelligence and technologies in Businesses
Business
intelligence and technologies reveal a company’s position in comparison to its
competitors. A business owner can assess the current position of the business
and engage in effective strategies that will help the business to realize
continued success. Business intelligence also reveals changes in customer
behavior and spending patterns. A businessman will be quick to note the changes
and adjust his business and services provision to suit the changing customer
needs. Business intelligence and technologies also reveal the capabilities of
the business. The business intelligence and technologies ascertain that the
business owner has a detailed account of the business’ financial performance.
The business owner uses the information to establish effective strategies to
drive the organization forward (Ciano, 2012). Businessmen can use the
intelligence and technologies to gauge the market conditions and determines the
future trends that may influence the performance and future profitability of
the organization. Additionally, business intelligence and technologies can
enable an organization to assess the social, regulatory and political
environment and make effective adjustments.
Conclusion
Bill’s
fresh fruit company is young and thus needs to adopt the most effective
business strategies so as to guarantee quality and attain customer
satisfaction. The fresh fruit company will battle with other shipping companies
that are successful. Bill must ensure that he remains ahead of his game in
terms of ensuring that his shipping company satisfies the customer’s needs. The
adoption of the latest technologies and business intelligence enables the
company to undertake strategic decisions that boost the company’s performance.
Business intelligence and technologies ascertain that the business engaging in
strategic decision-making that involves analyzing of the past, current and
future outlook of the organization.
Reference
Ciano,
P. (2012). International Shipping: Moving at the speed of technology. Global
logistics
Horkoff,
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Olszak,
C. M. (2014). An Overview of Information Tools and Technologies for Competitive
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Ranjan,
J. (2009). Business intelligence: concepts, components, techniques and
benefits. Journal of theoretical and applied information technology. Vol. 9(1):
60-70
Todorovic,
V. & Lazarevic, M. (2014). On the usage of RFID tags for tracking and
monitoring of shipped perishable goods. Procedure engineering.