DECISION MAKING PROCESS IN THE BUSINESS INTELLIGENCE 3.0 CONTEXT

Goran Pranjic ()
Additional contact information
Goran Pranjic: Embassy of Bosnia and Herzegovina in Budapest

Economic Thought and Practice, 2018, vol. 27, issue 2, 603-619

Abstract: Business Intelligence (BI) is the critical tool for making quality and fact-based decision. It helps decision-makers to make the timely and right decision. Using BI solutions, the decision-makers can improve decisions quality and ultimately they can be more efficient in fulfilling its business objective, contributing to the organization's competitive advantage. BI solutions and tools are not sufficient enough to make competitive advantage alone. Highly qualified personnel need to engage to extract the full potential of BI solutions and to be the bridge that connects domain and expert analytical knowledge. In this aspect, if managing of organization ambidexterity improves, decision quality improves as well. Final BI products and insight will be useful only if decision-makers use them at every level of decision making. The organization should take motivational steps to assure that managers read, prepare and exchange BI products. Decision-making standard of "HiPPOs" (the Highest Paid Person in Organization makes the decision) should be a relic of the past, and new decision-making process should be data and intelligence driven. The paper consists of three parts. Part 1- gives the overview of theoretical consideration of the decision-making process and manager's roles. In Part 2- BI system, with all its elements, is portrayed as the indispensable tool for the quality decision-making process. Part 3- presents the conclusion.

Keywords: Business Intelligence; decision-making process; decision; data; ambidexterity; analyst (search for similar items in EconPapers)
JEL-codes: D80 L20 M21 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://hrcak.srce.hr/clanak/311743 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:avo:emipdu:v:27:y:2018:i:2:p:603-619

Ordering information: This journal article can be ordered from
Economic Thought and Practice, University of Dubrovnik, Branitelja Dubrovnika 29, 20000 Dubrovnik
https://emip.unidu.hr/

Access Statistics for this article

Economic Thought and Practice is currently edited by Nebojsa Stojcic

More articles in Economic Thought and Practice from Department of Economics and Business, University of Dubrovnik Contact information at EDIRC.
Bibliographic data for series maintained by Nebojsa Stojcic ().