A brief review of recent research trends on applications of computational and statistical techniques in financial and business intelligence

Artificial neural networks and statistical techniques like decision trees, discriminant analysis, logistic regression and survival analysis play a crucial role in Business Intelligence. These predictive analytical tools exploit patterns found in historical data to make predictions about future events. In this paper we have shown some recent developments of a few of these techniques in financial and business intelligence applications like fraud detection, bankruptcy prediction and credit rating scoring.

Empirical investigation of critical success factors for implementing business intelligence systems in multiple engineering asset management organisations

Engineering asset management organisations (EAMOs) are increasingly motivated to implement business intelligence (BI) systems in response to dispersed information environments and compliance requirements. However, the implementation of a business intelligence (BI) system is a complex undertaking requiring considerable resources. Yet, so far, there are few defined critical success factors (CSFs) to which management can refer. Drawing on the CSFs framework derived from a previous Delphi study, a multiple-case design was used to examine how these CSFs could be implemented by five EAMOs. The case studies substantiate the construct and applicability of the CSFs framework. These CSFs are: committed management support and sponsorship, a clear vision and well-established business case, business-centric championship and balanced team composition, a business-driven and iterative develop ment approach, user-oriented change management, a business-driven, scalable and flexible technical framework, and sustainable data quality and integrity. More significantly, the study further reveals that those organisations which address the CSFs from a business orientation approach will be more likely to achieve better results.

Business intelligence systems implementation : testing a critical success factors framework in multiple cases

This paper presents and discusses the critical success factors (CSFs) influencing the implementation of business intelligence (BI) systems. Based on a preliminary critical success factors (CSFs) framework, multiple case studies approach was applied to investigate the CSFs influencing BI systems implementation in seven large engineering enterprises. The empirical findings demonstrate a clear trend towards multidimensional challenges involved in such resourceful and complex undertaking. The CSFs exist in various dimensions composed of organisation, process, and technology perspectives. More significantly, the study reveals that a more fundamental issue concerning the business needs of BI systems may, in the end, impede BI systems success. That is, BI stakeholders are urged to apply a business-orientation approach in tackling implementation challenges and ensuring buy-in from business stakeholders.

A SOA-driven business intelligence architecture

A business intelligence architecture comprises of different unique components to collect, transform, analyze and present the structured and unstructured raw data in simple formats to assist decision makers in making timely decisions. The introduction of service-oriented architecture (SOA) enables reusable services which are accessible over a network on demand. However, there is still a lack of academic literatures on the business intelligence architecture with service-oriented concept. Based upon various references on BI architectures from major vendors, a novel BI architecture that is built on service-oriented concept is presented and described in this paper. The proposed service-oriented architecture enables enterprises to deploy a more agile, flexible, cheaper, reusable, reliable and responsive BI applications in supporting decision making process.

A maturity model of enterprise business intelligence

The implementation of an enterprise-level business intelligence initiative is a large-scale and complex undertaking, involving significant expenditure and multiple stakeholders over a lengthy period. It is therefore imperative to have systematic guidelines for business intelligence stakeholders in referring business intelligence maturity levels. Draw upon the prudent concepts of the Capability Maturity Model, this research proposes a multi-dimensional maturity model with distinct maturity levels for managing enterprise business intelligence initiatives. The maturity model, named Enterprise Business Intelligence Maturiy (EBIM), consists of five core maturity levels and four key dimensions, namely information quality, master data management, warehousing architecture, and analytics. It can be used to assist enterprises in benchmarking their business intelligence maturity level and identifying the critical areas to attain higher level of maturity.

Data quality management in a business intelligence environment : from the lens of metadata

Business Intelligence is becoming more pervasive in many large and medium-sized organisations. Being a long term undertaking Business Intelligence raises many issues that an organisation has to deal with in order to improve its decision making processes. Data quality is one of the main issues exposed by Business Intelligence. Within the organisation data quality can affect attitudes to Business Intelligence itself, especially from the business users group. Comprehensive management of data quality is a crucial part of any Business Intelligence endeavour. It is important to address all types of data quality issues and come up with an all-in-one solution. We believe that extensive metadata infrastructure is the primary technical solution for management of data quality in Business Intelligence. Moreover, metadata has a more broad application for improving the Business Intelligence environment. Upon identifying the sources of data quality issues in Business Intelligence we propose a concept of data quality management by means of metadata framework and discuss the recommended solution.

Technical factors for implementing SOA-Based business intelligence architecture : an exploratory study

Business intelligence (BI) architecture based on service-oriented architecture (SOA) concept enables enterprises to deploy agile and reliable BI applications. However, the key factors for implementing a SOA-based BI architecture from technical perspectives have not yet been systematically investigated. Most of the prior studies focus on organisational and managerial perspectives rather than technical factors. Therefore, this study explores the key technical factors that are most likely to have an impact on the implementation of a SOA-based BI architecture. This paper presents a conceptual model of BI architecture built on SOA concept. Drawing on academic and practitioner literature related to SOA and software architectural design, we propose fourteen key factors that may influence the implementation of a SOA-based BI architecture. This study bridges the gap between academic and practitioners.

Making sense of business intelligence : proposing a socio-technical framework for improved decision making in not-for-profit organisations

The authors of this paper argue that human intuition alone cannot be relied upon for strategic decision making in today’s business environment and that quality data intelligence is an imperative. The proposed project described in this paper is research-in-progress, action design research (ADR), to implement an appropriate information systems (IS) enabling enhanced organisational decision making. ADR is a new research method that draws on action research and design research in an organisational setting. In phase 1 of the project, a sociotechnical ‘sense-making’ approach is used to gather and analyse information and decision needs in a not-for-profit (NFP) association, Connections ACT. In phase 2, requirements are designed and modelled to build a conceptual framework that guides NFPs in improving business performance and reporting capability. Phase 3 is the evaluative stage when the framework is reflected upon and refined, with intervention in the organisation’s processes as a promising outcome.

State-of-the-art review and critical success factors for mobile business intelligence

Due to ubiquitous information requirements, market interest in mobile business intelligence (BI) has grown markedly. However, mobile BI market is a relatively new area that has been driven primarily by the IT industry. Yet, there is a lack of systematic study on the critical success factors for mobile BI. This research reviews the state-of-the-art of mobile BI, and explores the critical success factors based on a rigorous examination of the academic and practitioner literature. The study reveals that critical success factors of mobile BI generally fall into four key dimensions, namely security, mobile technology, system content and quality, and organisational support perspectives. The various research findings will be useful to organisations which are considering or undertaking mobile business intelligence initiatives.

Managing the implementation of business intelligence systems : a critical success factors framework

The implementation of a BI system is a complex undertaking requiring considerable resources. Yet there is a limited authoritative set of CSFs for management reference. This article represents a first step of filling in the research gap. The authors utilized the Delphi method to conduct three rounds of studies with 15 BI system experts in the domain of engineering asset management organizations. The study develops a CSFs framework that consists of seven factors and associated contextual elements crucial for BI systems implementation. The CSFs are committed management support and sponsorship, business user-oriented change management, clear business vision and well-established case, business-driven methodology and project management, business-centric championship and balanced project team composition, strategic and extensible technical framework, and sustainable data quality and governance framework. This CSFs framework allows BI stakeholders to holistically understand the critical factors that influence implementation success of BI systems.

An empirical study of business intelligence impact on corporate performance management

Business intelligence technologies have received much attention recently from both academics and practitioners. However, the impact of business intelligence (BI) on corporate performance management (CPM) has not yet been investigated. To address this gap, we conducted a large-scale survey collecting data from 337 senior managers. Partial least square method was employed to analyse the survey data. Findings suggest that the more effective the BI implementation, the more effective the CPM-related planning and analytic practices. Interestingly, size and industry sector do not influence the relationships between BI effectiveness and the CPM. This research offers a number of implications for theory and practice.

Extending the understanding of critical success factors for implementing business intelligence systems

Extant studies suggest implementing a business intelligence (BI) system is a costly, resource-intensive and complex undertaking. Literature draws attention to the critical success factors (CSFs) for implementation of BI systems. Leveraging case studies of seven large organizations and blending them with Yeoh and Koronios's (2010) BI CSFs framework, our empirical study gives evidence to support this notion of CSFs and provides better contextual understanding of the CSFs in BI implementation domain. Cross-case analysis suggests that organizational factors play the most crucial role in determining the success of a BI system implementation. Hence, BI stakeholders should prioritize on the organizational dimension ahead of other factors. Our findings allow BI stakeholders to holistically understand the CSFs and the associated contextual issues that impact on implementation of BI systems.

Information quality and governance for business intelligence

This book presents the latest exchange of academic research on all aspects of practicing and managing information using a multidisciplinary approach that examines its quality for organizational growth.

A comprehensive diagnostic framework for evaluating business intelligence and analytics effectiveness

Business intelligence and analytics (BIA) initiatives are costly, complex and experience high failure rates. Organizations require effective approaches to evaluate their BIA capabilities in order to develop strategies for their evolution. In this paper, we employ a design scienceparadigm to develop a comprehensive BIA effectiveness diagnostic (BIAED) framework that can be easily operationalized. We propose that a useful BIAED framework must assess the correct factors, should be deployed in the proper process context and acquire the appropriateinput from different constituencies within an organization. Drawing on the BIAED framework, we further develop an online diagnostic toolkit that includes a comprehensive survey instrument. We subsequently deploy the diagnostic mechanism within three large organizations in North America (involving over 1500 participants) and use the results toinform BIA strategy formulation. Feedback from participating organizations indicates that the BIA diagnostic toolkit provides insights that are essential inputs to strategy development. This work addresses a significant research gap in the area of BIA effectiveness assessment.