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Transforming Your Organization with the Power of Business Intelligence Share   Share What are Business Intelligence Tools and the Types of Business   Share   Email The Business Intelligence Index – Gradient Flow   With the ability to drive strategic initiatives, make educated decisions and extract valuable insights from raw data, business intelligence (BI) has become a key enabler for organizational success. BI has revolutionized the way businesses operate and plan for the future in this age of intense competition and rapid technological advancement. One of the most powerful business intelligence tools available, Intellicus has provided tailored solutions to over 17,000 small and large businesses, enabling them to make data-driven decisions. Understanding Business Intelligence Business Intelligence (BI) is a technology-driven process that analyzes business data to provide actionable information that informs strategic and operational decisions. It involves collecting, storing, analyzing, and visualizing data to uncover patterns, trends, and insights that drive business performance. It combines internal and external data sources into a logical framework that helps produce insights that can be put into action. Business intelligence is a valuable resource that facilitates managers, executives and stakeholders to make informed decisions. What are Business Intelligence Tools? Business Intelligence (BI) is a technology-driven process that analyzes business data to provide actionable information that informs strategic and operational decisions. It involves collecting, storing, analyzing, and visualizing data to uncover patterns, trends, and insights that drive business performance. Essentially, BI transforms raw data into meaningful information that empowers organizations to make data-driven decisions. The Four Pillars of Business Intelligence Data Collection and Integration: Business Intelligence starts with the compilation of information from various sources, such as social media interactions, market trends, consumer profiles and sales statistics. This data must be integrated into a single platform in order to provide a comprehensive view and analysis. Data Visualization and Analysis: BI tools analyze trends, patterns, and connections using sophisticated analytics. Visualization tools like dashboards, charts, and graphs transform complex data into understandable insights for efficient decision-making. What are Business Intelligence Tools and the Types of Business Predictive Analytics: BI doesn’t merely focus on the present; it anticipates the future. To predict future trends, predictive analytics uses machine learning models and statistical algorithms. This makes it possible for companies to plan ahead and adapt proactively. Actionable Insights: BI aims to generate actionable insights, not just reports. These insights help optimize operations, identify new opportunities, and enhance overall performance. The Transformative Impact of Business Intelligence Improved Decision Making BI tools give businesses access to real-time data, which is essential for making timely, well-informed decisions. This eliminates the need for guesswork and intuition-based decisions in favor of data-driven ones. Additionally, BI tools, like dashboards and visualizations, present data in an understandable format, making it easier for decision-makers to quickly comprehend complex information and react to changes that may have an impact on the business. The Top Business Intelligence (BI) Tools Expert Insights Operational Efficiency The operational efficiency of an organization can be greatly improved using business intelligence. By automating repetitive operations, BI solutions allow employees to concentrate on more important facets of the company. Furthermore, by highlighting areas in the business process that require improvement, BI tools enable firms to get rid of bottlenecks, simplify procedures and cut expenses. Customer satisfaction and service delivery are enhanced as a result. Improved Bottom Line Business Intelligence can assist companies in increasing revenue and sales by offering insightful information about consumer behavior. With the use of BI technologies, marketers can better focus their campaigns and boost sales by analyzing customer data to find trends, buying patterns and preferences. Additionally, organizations can use business intelligence to pinpoint successful consumer categories and concentrate their marketing efforts on them. Revenue growth and improved conversion rates are possible outcomes of this focused strategy. Competitive Advantage Business Intelligence provides a competitive edge in today’s data-driven world. Through the utilization of BI tools, companies can acquire comprehensive insights into the tactics, advantages and disadvantages of their rivals and utilize this data to formulate strategic plans. Similarly, it facilitates prompt market adaptation and can assist companies in recognizing customer behavior shifts and market trends. Ethical Considerations in BI The Future of Business Intelligence Advancing technology promises a bright future for BI. AI and machine learning will enhance predictive analytics, enabling businesses to foresee trends and adapt quickly. Integrating BI with emerging technologies like IoT and blockchain will unlock new dimensions of data analysis and decision-making. Conclusion Business Intelligence has evolved from being a mere buzzword to a transformative force shaping the future of businesses. It empowers organizations to navigate complexities, capitalize on opportunities, and drive growth in an increasingly data-centric world. Embracing BI isn’t just an option; it’s a necessity for businesses aspiring to thrive in today’s competitive landscape. repeating the info from intro [SD1] This doesn’t fit right here… please change the placement [SD2] A CMO tried Google’s AI tools and stopped using many of them Before another $100 billion or more is spent on AI chips and data centers, it may be wise to pause and consider how strong demand will be for the end products of this next wave of computing. There are already several AI-powered tools and services being used by paying customers. How are these performing? If they don’t live up to the hype, then this unprecedented investment cycle may result in “pretty woeful” economics, as Amazon CEO Andy Jassy suggested on an earnings call. Lately, there are signs that all is not well when it comes to the real-world performance of artificial intelligence. A chief information officer recently canceled an AI upgrade from Microsoft. AI-powered customer service has been “underwhelming” so far, a software engineer who used Klarna’s AI agents said. I checked in recently with a chief marketing officer who spends millions of dollars a year on digital ads and other technology. This person is a pragmatic tech optimist and early adopter. This person’s company has been trying out several Google AI services and tools. They shared some of the results with me, while …

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From recruitment to performance: AI and ML transforming HR operations The current era, known as the ‘digital age’, has seen digital transformation become a global consensus among businesses. Many experts believe that transformation has been accelerated by as much as half a decade in the wake of the pandemic, which saw digital transformation at a never-before-seen scale. This transformation is disrupting almost all industries, and human resources (HR) is no exception. In this digitised world, HR must reinvent itself. By stepping up to this challenge, HR can create immense value for both organisations and their employees. However, it is crucial to note that AI and ML are not designed to replace managers but rather to support HR decision-making. Artificial intelligence (AI) and machine learning (ML) have become prominent buzzwords in recent years, with vast potential applications in HR. AI refers to a computer program’s ability to learn and think, effectively simulating human behaviour and thought processes. ML, a subfield of AI, uses data-driven algorithms to perform complex tasks. These technologies can automate routine tasks, enhance decision-making processes, and enable HR professionals to focus on strategic initiatives. Re: HR Analytics Dashboard – Microsoft Fabric Community For example, despite the engaging nature of many jobs, repetitive tasks such as generating reports, verifying information, and analysing data will inevitably be done by AI. Utilising AI programs to perform these repetitive tasks can save time, increase productivity, and facilitate managerial decision-making. One significant area where AI and ML are transforming HR is recruitment and talent acquisition. These technologies focus on collecting and using data to make informed talent decisions. AI-powered systems can analyse vast amounts of applicant data, screen and evaluate resumes, acknowledge and reject applicants, schedule interviews, check candidates’ backgrounds, and even conduct initial interviews. By identifying patterns and matching candidates with job requirements, AI enhances the efficiency of the hiring process. Continual learning and development are essential for employees to stay competitive in today’s rapidly changing business landscape. AI and ML can personalise learning experiences by analysing individual skill gaps, learning styles, and career aspirations. Intelligent learning platforms can recommend tailored training programs, provide real-time feedback, and facilitate self-paced learning. These advancements enable HR to foster a culture of continuous learning, promote employee growth, and improve organisational performance. Traditional performance management systems are often criticised for their lack of effectiveness. AI and ML can transform this process by providing real-time feedback, objective evaluations, and data-driven insights. AI-powered systems can automate performance reviews, allowing HR professionals to focus on more strategic initiatives. HR Analytics Power bi Solution – EClytics: Business Intelligence AI’s increasing influence on HR practices is evident, but it is crucial to remember that AI is a tool dependent on human input. The effectiveness of AI systems relies on the data people provide. Additionally, AI reflects the ‘coded gaze,’ which includes the preferences, priorities, and prejudices of those who develop these technologies. Algorithms use past information to predict future outcomes and ML systems imitate human behaviour. These technologies act as invisible gatekeepers, increasingly influencing hiring decisions, employee performance assessments, and tenure decisions. Consequently, inaccurate data used by these algorithms could significantly impair someone’s career. The future is thus in the hands of software programs whose exact operations are often unknown. The absence of a human factor in these processes could lead to bias and discrimination. Organisations must ensure that AI algorithms are regularly tested and examined to identify and correct any biases that may develop over time. While the potential of AI and ML in HR is vast, addressing the ethical considerations associated with their implementation is essential. HR professionals must ensure transparency, fairness, and data privacy. Balancing human touch and technology is crucial to avoid a complete reliance on AI or ML, which could result in a loss of personal connection and empathy. HR analytics Power BI Dashboard – Data visualization dashboard In conclusion, the integration of AI and ML in HR is vital for the success of HR professionals. By staying updated on advancements in AI and ML, they can harness these technologies to drive positive change and make a significant impact on organisations. It is also important to consider how HR professionals and employees view and use AI and ML technologies. Resistance to change and job displacement are common concerns. Organisations should offer opportunities for upskilling and training to improve technological literacy. Nevertheless, the increased use of these systems without understanding their implications could negatively impact our lives. Ishraat Saira Wahid, PhD is an Assistant Professor of Business Administration & Human Resource Management at the College of Business Administration, Prince Mohammad Bin Fahd University, Kingdom of Saudi Arabia. Email: [email protected] Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinions and views of The Business Standard. How Darussalam Assets is tapping AI in HR operations Darussalam Assets, a holding company managing a diverse portfolio of government-linked companies in Brunei, has been leveraging the power of artificial intelligence (AI) to improve its human resources (HR) operations. Its journey began in 2016 with the implementation of SAP’s S/4Hana enterprise resource planning (ERP) suite across its portfolio companies, followed by the roll-out of the SAP SuccessFactors HR suite in 2019. The adoption of SAP SuccessFactors was a crucial step, enabling the company to streamline its learning management, performance management and recruitment management systems. More recently, Darussalam Assets has started using SuccessFactors’ business AI capabilities to automate and optimise various recruitment processes, resulting in significant time and resource savings. An AI-powered job description generator, for instance, allows hiring managers to create job postings in minutes. These postings can then be sent to the HR team for approval within a day, a process that previously took days, according to Apurv Sharma, senior manager of group information systems at Darussalam Assets. The company has also integrated SuccessFactors’ recruitment capabilities with Microsoft Teams, which allows the AI to generate interview questions based on the competencies and requirements outlined in job descriptions. When a virtual interview …

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