Business Management

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, J., Barone, D., Jiang, L., Yu, E., Amyot, D., Borgida, A., & Mylopoulos, J. (2014). Strategic business modeling: representation and reasoning. Software & Systems Modeling, 13(3), 1015-

Olszak, C. M. (2014). An Overview of Information Tools and Technologies for Competitive Intelligence Building: Theoretical Approach. Issues in Informing Science & Information Technology, 11139-153

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. 

Sherry Roberts is the author of this paper. A senior editor at MeldaResearch.Com in pre written college essays. If you need a similar paper you can place your order from pay someone to write my research paper services.