Data warehouse is a central system for collecting data from transactional and other independent sources, and is used as a source of information for Business Intelligence systems and performance management.
Business intelligence system is a collection of tools used to analyze and display information from data warehouses, and allows the companies to track:
- daily or shorter business period with the operating results of operations,
- weekly or monthly operating periods in order to optimize business processes
- period of several months of business operations with the aim of directing a group of business processes toward strategic business goals
Company Performance Management is focused on connecting business processes within the company to facilitate quality business decisions. It is based largely on information available in the data warehouse. Input parameters for the monitoring of results are key performance indicators, and monitoring the results is possible through business intelligence systems, dashboards, or scorecards.
Through the implementation and use of business management tools, it is possible to:
- increase the market share
- reduce operating costs
- operational plan to facilitate quality
- analyze specific market segments
- monitor and manage business processes
The system for business management today is not just another systems within the company. It is a system that is subject to change in order to better monitor operations. Also, it is a centralized system that affects the changes and development of business processes with the aim of increasing business efficiency. This system is widespread in all market segments, and is particularly interesting in the areas of sales, marketing and financial operations.
Globalization of the markets and rapid changes in market trends, business intelligence system becomes an essential prerequisite and foundation for a successful business. By implementing this system it is possible to shorten the time of adaptation to new market conditions and thus significantly increase the performance.