Large organizations often link extensive reporting suites to the company's Decision Support Systems, in effect creating 'Business Intelligence' (BI) applications. Have you had any experience of such systems, and if so, was their use of significant benefit to the company? Did you observe any shortcomings with these BI systems?
First let's define Business intelligence:
What is Business Intelligence? "Business intelligence is a general term used to refer to a number of activities a company may undertake to gather information about their market or their competitors. Some areas often included under the blanket heading of business intelligence are: competition analysis, market analysis, and industry analysis. Some people also consider industrial espionage that operates for information-gathering purposes to be a form of business intelligence" (McGuigan, 2010).
Its main purpose is to basically enhance better decision making of large organizations by using techniques to analyze business data. Business Intelligence provides a timeline, if you will, of past, present and predictive future trends of corporate operations such as business performance, benchmarking, knowledge management, data measurement, collaboration, data sharing and predictive analytics. Organizations then, use this data to make decisions about their corporations.
There are two types of Business Intelligence systems - Executive Information Systems (EIS) and Decision Support Systems (DSS). I will give you a brief definition of EIS and then give you the advantages and disadvantages of DSS since that is what your professor is focusing upon.
Executive Information Systems (EIS): EIS is an "infrastructure that supplies to a firm's executives ...
The solution deals with Business Intellegence. In particular, it discusses Executive Information Systems (EIS) and Decision Support Systems seperately and discusses the advantages and disadvantages of using DSS. There are three references included formated in APA styling.