Business Intelligence and Competitive Intelligence - Case Study Example

The contemporary enhancement inaccessible data is worthless without an efficient method to acquire and process expansive supplies of information and knowledge.The real picture of a business’s life can be achieved through data mining tools that permit organizations to capture all the essential information about customers, suppliers, various transactions and so forth. Apparently, the emphasis is on handling raw data, which are in fact billions of information that independently or collectively have small inherent relevance.

The demand in the contemporary period and in the future will be the creation of a new business intelligence tools that facilitate decision-makers to systematize, examine, and communicate about corporate information and knowledge. Associated with these tools are ever-changing Web sites for “business-to-business electronic commerce, or E-commerce” (Thierauf, 2001,3). These BI instruments not only illustrate patterns on historical data but also present the capability to scheme out various prospects based upon changed inputs and provide for a comprehensive understanding of outcomes.

Basically, there is a need for magical chemistry that would convert primary business data into workable business intelligence. Data transforms into business intelligence when it is in the dispersal of decision-makers who have the knowledge of the appropriate situations it will be applied and used (Kalb, 2003).There are normally no cheerful surprises in the contemporary marketplace. Management failures are oftentimes related to the inability to anticipate drastic changes in markets, act in response to emerging and flourishing competition, or re-configure technologies and the planned direction of their business toward dynamic consumer demands and latest industry standards.

Astonishingly, several of today's allegedly well-educated business managers opt to pay no attention to competitor and business intelligence admonitions.