Business Intelligence: Improving Decision Making in Organizations


The importance of embedded BI technology in fostering more pervasive decision support and automation is being realized through continuous developments in BI tools. They provide greater opportunity to improve accounting operations and presents planning to sales functions thereby providing better management information. 

The finance function is being transformed in terms of the efficiency of its operations, the quality of the information it generates and its level of influence in management. Business leaders and management accountants must be alert to the potential of developments in the role of the finance function and BI.  The combinations of the developments, proper design, implementation and management of BI provide an opportunity to improve accounting operations and acquire a greater competence in informed decision making. 

Everyone in management needs to be alert to this opportunity and the threat that early adopters may achieve a competitive advantage. Leading organizations have already grasped the opportunities presented by developments in information and communications technology to improve the efficiency of accounting operations.

My questions to you:

Is your organization taking advantage of this capability?
Are you using it not only to monitor performance and improve decisions, but to monitor risks?

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