Business Decisions BI Functions

Describe, give advantages & disadvantages, give examples

1

1- Operational Decision: 

Operational processes constitute the core business

It is everyday operation.
- Everyday decision.

Advantage:

It is easily aid an organization implement strategic objectives, planning, controlling, strategic processes and more.
- Help organization to manage well.

Disadvantage:

Its dependence on utilizing many different components to work together to achieve the success.
- They might be some problem because they will not carried out properly.

Example:

•  Product Positioning - Pricing

Product positioning

How the marketers (Hua ho), how they position their products to catch the customers.

Pricing

Marketers will match the prizes with the other markets

- Sales

- Must have product to be saled

- Focus on the product

- More into day-to-day operation of certain products

-   Purchasing

- Part of procurement

- Getting item for a company (from supplier or manufacturer)

-   Marketing

- Ads, for example

- Word of mouth (we promote)

- Focus to customer than product

2- Tactical Decision
It is an approach that is typically used by smaller organizations. It is more short-term, transactional approach to procurement.
- Tactical level decisions aim at creating medium-term schedule or with stated datelines.
- Preparation before strategic is decide.

**Tactical is the one who give information to strategic.
Strategic will decide it

Advantage:

Disadvantage:


Example:

•  Competitive Advantage - Financial Outlay

Accounting

-  Count (More into numbers)

-  Communicating financial information (workers, manager)

-  Financial statement consists for a day, a month (all) statements

Technical supporting processes

-  Predicting direction or prices of a stock through study of past market data, primarily price and volume (statistic)

-  Focus on Trends and Patterns

Financial outlay
It defined as the money that a company spends to either purchase a fixed asset or to extend its useful life.

3- Strategic Decision

- Implementation and formulation of various strategies in order to achieve the goals of the company.
- Long-term decision for company

Advantage:

- Identifying strategic direction.

- Make better business decisions.

- It provides framework for decision-making.

Disadvantage:

- Complex process.

- Time-consuming process.

- Tough implementation.

- No effort to make a proper planning.

- With the applying strategic decision in an organization, it can be expensive.

- Long-term benefits vs Immediate results.

Example:

•  Priorities - Goal setting, - Forecasting for the future, - Global diversification

Prioritise
- which one they do it

Goal setting:

It is a plan to achieve the goal/success.
- to make sure they are achieving the goal

Forecasting for the future:

    Forecasting – Predict (sometimes happen), purpose is to help the business improve.

Example: Predicting the trends in the business.

2
Explain the functions of Business Intelligence, give examples

1- Analysing Data

It allows us to make informed decisions and to stop guessing.

Example: Project Manager

2- Decision-making

The actions or process of making decisions.

Example: 

- Hiring worker (interview for a new worker)

- Plan (weigh the possibilities and disadvantages of we don’t take her as our new worker)

3- Problem-solving

The process of finding solutions

Example: A car broken

 - Choose the best solutions with can be use to solve the problem

4- Designing more intuitive/Innovative system
- Contohnya ada tiga functions, but here it convert into one saja. Kana jadikan satu saja, dalam satu ada tiga functions atu.

Example:

References

Directionsmag.com. (2019). What is Data Analysis and the Role of Data Analyst?. [online] Available at: https://www.directionsmag.com/pressrelease/7632 [Accessed 31 Oct. 2019].

Planettogether.com. (2019). Advantages and Disadvantages of Operations Management. [online] Available at: https://www.planettogether.com/blog/advantages-and-disadvantages-of-operations-management [Accessed 4 Nov. 2019].

Charityvillage.com. (2019). The advantages and disadvantages of strategic management . [online] Available at: https://charityvillage.com/cms/content/topic/the_advantages_and_disadvantages_of_strategic_management [Accessed 4 Nov. 2019].

WiseStep. (2016). Strategic Management Advantages and Disadvantages - WiseStep. [online] Available at: https://content.wisestep.com/advantages-disadvantages-strategic-management/ [Accessed 4 Nov. 2019].

Technology Concepts Group International. (2016). Tactical vs Strategic Sourcing: Which Road Should You Take? - Technology Concepts Group International. [online] Available at: https://www.technologyconcepts.com/tactical-vs-strategic-sourcing-which-road-should-you-take/ [Accessed 4 Nov. 2019].

Smallbusiness.chron.com. (2019). What Is Capital Outlay?. [online] Available at: https://smallbusiness.chron.com/capital-outlay-65324.html [Accessed 4 Nov. 2019].