Assignment 1 - Business Intelligence - Pass, Assignments of Computer Fundamentals

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Huynh Minh Huy | GCD

GCD1001 | UNIVERSITY OF GREENWICH

Assignment 1

BUSINESS INTELLIGENCE

ASSIGNMENT 1 FRONT SHEET Qualification BTEC Level 5 HND Diploma in Business Unit number and title Unit 14: Business Intelligence Submission date 31/03/2023 Date Received 1st submission Re-submission Date Date Received 2nd submission Student Name Huynh Minh Huy Student ID GCD Class GCD1001 Assessor name Phyo Min Tun Student declaration I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism. I understand that making a false declaration is a form of malpractice. Student’s signature (^) Huy Grading grid P1 P2 M1 M2 D1 D

INTRODUCTION.

Business Intelligence (BI) has become an essential part of decision-making processes for prudent companies. It involves using digital computing technologies, such as data warehouses, analytics, and visualization, to identify and analyze essential business-based data. BI technologies provide real-time, historical, and predictive views of internally structured data relating to all departments within an organization, which enhances operational insight and improves decision-making. In essence, BI is the process of discovering valuable trends or patterns in data to make more efficient, accurate decisions related to business goals, aims, and strategies. Artificial intelligence plays a pivotal role in pattern recognition, which distinguishes BI experts from amateurs. Al technologies assist users in discovering integral insights autonomously, making the process more intuitive, streamlined, and accurate. BI is executed through intuitive, interactive tools and dashboards that provide the ability to drill down into data with ease. It has evolved from generating rudimentary reports and tools for historical queries to include forecasting, online analytical processing, predictive modeling, data management, data mining, and optimization. With these tools, companies can accurately assess what is or is not working, identify historical factors, and readily identify future trends to maximize their potential.

Table of Contents

• BUSINESS DECISION-MAKING. CHAPTER 1: DISCUSS BUSINESS PROCESSES AND THE MECHANISMS USED TO SUPPORT
  • I. Introduction to our group and dataset.
  • II. The terms ‘Business Process’ and ‘Supporting Processes’.
    • 1. Business Process.
    • 2. Supporting Processes.
• INTELLIGENCE FUNCTIONALITY. CHAPTER 2: COMPARE THE TOOLS AND TECHNOLOGIES ASSOCIATED WITH BUSINESS
  • an organization. I. Compare the types of support available for business decisionmaking at varying levels within
    • 1. Definition of business decision-making.
    • 2. Process of decision – making.
    • 3. Compare the types of support available for business decision – making.
• References
• Figure 1: Dataset. Table of Figures
• Figure 2: Business Process.
• Figure 3: Business Process Example.
• Figure 4: Flowchart Diagram.
• Figure 5: Example of Support Process.
• Figure 6: Image to understand the basic structure of decision support system at various levels.
• Figure 7: Process of decision - making.........................................................................................................................
• Table 1: Compare the types of support available for business decision-making. Table of Tables

The dataset comprises 16 columns of automobile sales data that was obtained from Kaggle.com.  Manufacturer: Name of the manufacturer of the car.  Model: Name of the model of the car.  Sales in thousands: The amount of revenue from the sale of a vehicle measured in thousands of units of the currency.  Year resale value: The estimated value of a vehicle after a certain period of ownership when it is sold in the secondary market.  Vehicle type: The classification of a vehicle.  Price in thousands: The price of car in thousands of units.  Engine size: The size engine of car.  Horsepower: The horsepower of car.  Wheelbase: The wheelbase of car.  Width: The width of car.  Length: The length of car.  Curb weight: The curb weight of car.  Fuel capacity: The fuel capacity of car.  Fuel efficiency: The fuel efficiency of car.  Latest Launch: The most recent release of car.  Power perf factor: The measurement of the efficiency of car.

II. The terms ‘Business Process’ and ‘Supporting Processes’.

1. Business Process. a. What is a business process? A business process is an action or set of operations carried out inside an organization to achieve a specified goal. To be effective, business processes should have defined goals, be as accurate as feasible, and consistently achieve intended results. Business process management (BPM) is a methodical approach to improving these processes to help firms achieve their business goals. When cost or resource restrictions prevent an organization from completing specific business activities internally, it may consider outsourcing them to a third-party service provider. Payroll, human resources (HR), and accounting are examples of such responsibilities. Figure 2 : Business Process. Companies employ a variety of ways to analyze the performance of a business process, such as tracking the completion of individual phases or evaluating the quality of the process's output. Once a company understands that a business process is not meeting its objectives, it can take a variety of steps to change it. For example, the company may opt to improve process visibility in order to identify areas where performance or execution may be improved. Organizations also utilize business process mapping to improve the efficiency of their company processes. Business process mapping provides a graphical picture of how various processes work, allowing businesses to better understand how their business runs.

c. Business Process Example. Business processes are ubiquitous across all levels of an organization and transcend different sectors. Various sectors and businesses serve as exemplars of business processes. Figure 3 : Business Process Example. In this section, I will create a flowchart diagram to show how we sale a car to customer. Figure 4 : Flowchart Diagram.

The car sales process flowchart begins with a potential buyer who has decided to purchase a vehicle. The customer researches available vehicles and becomes interested in purchasing one specific model. Next, the customer visits the dealership for test driving and evaluating options to determine which vehicle they would like to purchase. The customer then begins to negotiate price with the dealer, making payment arrangements if necessary. Once all of the details are worked out, the buyer signs paperwork (a buyer's order and a bill of sale) and takes possession of the vehicle. Lastly, the owner reviews maintenance schedules for their new car. d. Types of Business Process. There are three main types of business processes, including:  Core Processes: These are the important business functions that directly offer value to the end customers. These procedures are crucially connected with the company's essential beliefs, objectives, and vision. Companies must constantly analyze and enhance these processes since they are critical to the organization's growth and revenue flow.  Support Processes: These processes enable and support the main operations to run smoothly. Although they do not generate income, they do aid internal departments in building a collaborative atmosphere in which essential processes may be aligned to perform more efficiently. Human resources, financial management, administration, and operations are examples of supporting processes since they assist a firm grow.  Management Processes: From start to finish, these processes are in charge of planning, monitoring, managing, and regulating the core and supporting processes. These procedures are goal-oriented and guarantee that business activities run smoothly and efficiently. Their primary responsibility is to monitor internal and external business functions, assess possibilities and obstacles, and assure continual improvement of all operations.

Figure 5 : Example of Support Process. c. Components of Support Processes. Support process components are responsible for ensuring that business resources meet the desired quality and quantity, assuring the quality of resource supplies or support services, and maintaining the company's overall performance.  Human Resource Management is the process of hiring people, training them, rewarding them, setting policies for them, and devising retention tactics. HRM has changed dramatically over the previous two decades, making it an even more vital position in today's enterprises.  Financial management processes involve managing financial resources, creating and implementing financial policies, analyzing financial data, and making financial decisions to support the organization's goals.  Building and property management, cleaning and maintenance, and facility management involve overseeing the maintenance, security, and safety of the company's buildings and properties to ensure they meet the organization's needs.  IT processes involve managing and maintaining the organization's technological infrastructure, including hardware, software, and networks, to support the company's operations.

 Procurement and sourcing processes involve selecting suppliers, purchasing services and materials, and sourcing human and financial resources to support the company's operations.  Vendor management processes involve managing relationships with vendors, including selecting and evaluating vendors, negotiating contracts, and monitoring vendor performance.  Operational processes and routine operation and organization management involve managing day-to-day operations and processes to ensure the organization's goals are met.  Risk management processes involve identifying, analyzing, and mitigating risks that could impact the organization's operations or objectives.  Security management processes involve ensuring the safety and security of the organization's physical and digital assets, as well as its employees and customers.  Quality management processes involve creating and implementing policies and procedures to ensure the organization's products or services meet or exceed customer expectations.  Corporate governance processes involve managing the overall direction and management of the organization, including decision-making, accountability, and transparency. d. Characteristics of supporting processes.  They do not directly produce goods or services: Supporting processes are designed to provide resources and support to the primary processes of the organization. They do not directly create products or services but are necessary to facilitate or manage those processes.  They enable the primary processes: Supporting processes enable the primary processes by providing the necessary resources, tools, and infrastructure. Without supporting processes, primary processes cannot function effectively.  They are essential for organizational success: Supporting processes ensure that the primary processes can function efficiently and effectively. They help to ensure the

CHAPTER 2: COMPARE THE TOOLS AND TECHNOLOGIES ASSOCIATED WITH BUSINESS INTELLIGENCE

FUNCTIONALITY.

I. Compare the types of support available for business decisionmaking at varying levels within an organization.

1. Definition of business decision-making. The business decision-making process is a well-defined, structured, and systematic approach that enables professionals to make informed decisions based on sound judgment and analysis. It is a step-by-step process that involves evaluating various options, examining relevant data and information, and considering the potential outcomes of each alternative before choosing the most appropriate path forward. One of the key benefits of the decision-making process is that it helps organizations to solve complex problems and make informed choices that are aligned with their goals and objectives. This process allows decision-makers to weigh the evidence, assess the risks and benefits of each option, and consider the implications of their decisions on different stakeholders. Figure 6 : Image to understand the basic structure of decision support system at various levels. Moreover, the decision-making process does not end with choosing a particular course of action. Rather, it provides an opportunity for decision-makers to reflect on their choices, review the outcomes, and determine whether the decision was the right one. This reflective practice is essential for organizations to learn from their mistakes, improve their decision-making capabilities, and enhance their overall performance. In essence, the business decision-making process is a critical tool for organizations to achieve their objectives, optimize their resources, and remain competitive in today's dynamic business environment. By following a structured and systematic approach, organizations can make informed choices, mitigate risks, and seize opportunities to grow and prosper.

2. Process of decision – making. Figure 7 : Process of decision - making. Step 1: Identify the decision. Clearly define the decision that needs to be made. This step is crucial in order to move forward with the decision-making process. Step 2: Gather Relevant Information. Collect all relevant information needed to make the decision, from both internal and external sources. This includes self-assessment, online research, books, other people, and any other sources necessary to gather pertinent information. Step 3: Identify Alternatives. Identify all possible and desirable alternatives that may be available to you. This may involve using your imagination to construct new alternatives based on the information you have gathered.

3. Compare the types of support available for business decision – making. Properties Strategic Decisions Tactical Decisions Operational Decisions Definition Strategic choices are significant decisions regarding the activities that affect the entirety or a significant portion of the business operations. They directly contribute to the accomplishment of the organization's shared objectives, and they have long-term implications for the business. These choices are crucial as they involve evaluating options and selecting a course of action that aligns with the organization's vision and mission, as well as its values and objectives. These decisions are not made in isolation but are based on a thorough understanding of the internal and external environment and the organization's strengths, weaknesses, opportunities, and threats. It is important to make informed and deliberate strategic choices to ensure the success and sustainability of the business. The implementation of strategic decisions involves putting those decisions into action. This process involves creating departmental plans, organizing workflows, establishing distribution channels, and acquiring essential resources such as human capital, raw materials, and financial resources. These crucial decisions are typically made at the middle level of management, where they are translated into concrete actions that help the organization achieve its strategic goals. By effectively implementing strategic decisions, organizations can ensure that their efforts are aligned with their overall objectives and can achieve sustainable success over the long term. These decisions pertain to the routine activities of the organization, are focused on the near future and are recurring in nature, rely on factual information about specific events, and do not necessitate detailed analysis or approval from lower-level management. They are typically made in a well- informed and logical manner, and involve devising action plans that are measurable and can effectively bring about the desired objectives.

Component The decisions related to technology involve selecting appropriate equipment, determining the level of automation, and deciding on the suitable process. Capacity decisions cover determining the number, timing, and format of resources needed. Facility decisions include selecting the appropriate scale, location, and specialization for the facilities. Additionally, vertical integration decisions involve determining the path, scope, and balance of integration within the organization. This set of tasks includes defining standards to evaluate performance and productivity, suggesting ways to optimize the use of available resources, scheduling equipment and personnel, planning for more efficient modernization and automation, identifying relevant technologies and tools to enhance production quality and efficiency, preparing work plans to redesign procedures and job designs, making informed decisions on ordering and resource allocation, forecasting future competency requirements and developing plans for competency growth, and preparing for medium-term maintenance through preventive and condition monitoring measures. The management of employee and customer relations, pricing strategies, inventory management, logistics decisions, sales and marketing efforts, as well as discount and promotional offers are all crucial components of effective business operations. Times Long term Middle term (From 2 year to 3 years) Middle term (From 2 year to 3 years)