Answer To: 5BU010 Assignment 1 Brief XXXXXXXXXX � Faculty of Social Sciences – Assignment 1 Brief for Students...
Abhishek answered on Oct 30 2021
5BU010 BUSINESS INTELLIGENCE, INFORMATION SYSTEMS AND DIGITAL CAPABILITY
“A CRITICAL ANALYSIS AND EVALUATION OF THE IMPACT OF BUSINESS INTELLIGENCE WITHIN THE CASE STUDY ORGANISATION: MARKS AND SPENCERS
Table of Contents
1: Introduction 3
2: Analysis and Evaluation of Business Intelligence of Marks and Spencer 3
3: Recommendation for Service or Organisational Improvements, Organisational Development and Opportunities for Innovation as well as Growth in M&S with respect to Business Intelligence 5
4: Conclusion 6
References 8
1: Introduction
Business intelligence refers to the technological process for data analysis about the formation of a business. It helps in making business analysis, undermining the detail of dealing and transactions associated with business, finding value propositions by analysing big data (Popovic, Puklavec & Oliveira, 2019). Marks and Spencer (M&S) is a renowned retailer, based in London, England and specialises in selling clothes, food products and home products since 1884, has been subjected to the analysis of this paper. Business intelligence is the implication of software, with which the power of data associated with business excellence can be harnessed and adequate measures can be taken in developing the organisational strategies.
Marks and Spencer, as it deals with a variety of products, follow business intelligence to ensure increased productivity, improvement in the revenues and enhancement of growth in their business. The adoption of business intelligence, on a whole, helps in analysing data, solving company-specific issues by making a proper evaluation of situation and dealing, enhancing communication skills, developing and increasing company specific knowledge, advancing the vision and mission of the company and enabling business procurements (Laudon & Laudon, 2018). Hence, the paper depicts the business excellence of M&S by making proper execution of business intelligence and the competitive benefit it received with help of this business implication.
2: Analysis and Evaluation of Business Intelligence of Marks and Spencer
As a means for product personalisation and recommendation of it, M&S uses marketing intelligence software. Several companies such as Amazon use this strategy to enhance their product diversification and to create product personalisation. Companies such as ASDA, TESCO also use this software, so that the product improvisation and renovation in the operation of the company might be traced and enhanced as well.
Business Intelligence, that is, BI, has not only helped product personalisation but also helped in making accurate business decisions with an evaluation of business logistics in an in-depth manner (Larson & Chang, 2016). M&S has enabled BI software to make a detailed analysis of the massive supply chain system so that the company can run smoothly with multiple operations offered by it. With help of BI, the wholesale retailer, M&S has conducted market responses regarding the organisational approaches and operations by reporting.
With online analytical processing, the organisational product promotion proves, market targets, target audience selection, scope in market, the reaction of people have been evaluated. With help of analytics, management of business performance, text mining, benchmarking and predictive & prescriptive analysis, BI helps in identifying risks and challenges associated with the company and helps in taking solutions with the adoption of certain strategies (Xu, Wang & Haghighi, 2017). M&S has efficiently adopted this technological implication as means of their advancement. In terms of providing products with an optimum level to the target audience, M&S confronts challenges. Hence, big data analysis by the management of this company has brought significance to the prospect of the company (Trieu, 2017).
This helped in enlarging brand awareness of the company and helped in attaining competitive benefits. Furthermore, the organisation faced obstacles in expanding over the countries and other dimensions as it confronted environmental challenges. Analysing the business trend, the tendency of people and their impact on the environment has helped the company develop strategies to get suited to the demand of the situation and be indulged in the target location (Toms & Zhang, 2016). It further helps in understanding the time bond, legal accuracy and demand of the situation to undermine technology for the requirement.
The organisation...