Why need Business Intelligence Systems?

As the traveller walks his path, when there is enough light to show the way where it is heading towards, the obstacles, the bumps and pits , he proceeds comfortably without any collisions and falls.

When an organisation tries to steer through to reach the desired goals, the journey will be smooth when there is enough visibility about the path being travelled, where to place the foot and where to jump across to avoid getting wet.

As the traveller walks the path, no conscious effort is made to avoid the obstacles. It happens unconsciously or involuntarily. In organisations too, we build an artificial intelligence to read and understand the data, so that the right action is taken at the right time. Those who have the data, meticulously collected and analysed will have a smooth sailing.

Business Intelligence Systems- A business case

In today’s environment, every industry faces challenges in responding quickly to customers’ dynamic requirements. Changes in consumer behaviour lead to changing supply and demand conditions. This means focusing more on near-term business outcomes.

For instance, in the T & A industry, the advent of Fast Fashion has pushed the companies to frequently accommodate their products with season while at the same time, taking care to avoid excessive stock or shortage of inventory.

Business Intelligence Systems help in data driven decision making by providing more immediate visibility and insight into customers and processes. Entrepreneurs can thus interpret and understand market needs as well as their own strengths and weaknesses. This will ensure the competitiveness needed for sustainable growth.

Industries hence need to investigate more on leveraging the power of Data, AI and Industry 4.0 concepts for resolving sustainability challenges.

For further reading: Sumera Ahmad et al, “Towards Sustainable Textile and Apparel Industry: Exploring the Role of Business Intelligence Systems in the Era of Industry 4.0”, Sustainability 2020, 12, 2632, dated 26 March 2020

by Dr. Deepika Prabhu, ITF