Business intelligence - project
Blackrock’s company basically sells primarily Asian foods and it is focusing on the revamping their menus through the business intelligence tools which needs to be applied in the company. The company is one of the growing companies in conglomerate food, restaurant in the US. It requires the access to information about their operational performance in order to help it to be sustainable in a briskly changing turbulent environment. The company aids in incorporating the business intelligence tools in order to bring better improvements in its operations and helps in advancing in its service delivery in food industry. The paper will provide some explanations on the benefits of our current databases and provide recommendations on how one can leverage it to the development of competitive advantage.
The company will focus on applying business intelligence tools which will help in increasing the ability of the organization to develop competitive advantage in the market. The current company databases needs to be advanced in order to capture the pace of the other companies who are in te field as this will help them to merger competitive in the market. The company is working on making sure that its database has lots of information that will help in revamping in their menus and also increasing more on the sales and ways of evading unhealthy competition. Some of the recommendations on how to you can leverage it to develop a competitive advantage include promoting strengths and competitive advantage the company in respect to product quality, price, promotion, location and distribution. Some of the ways of developing competitive advantage includes, creating a corporate culture which attracts suitable talents, rewarding behaviors which support corporate mission and value and also incorporating business intelligence tools in the company.
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In order to be sustainable in a briskly changing turbulent environment, organizations need to have access to information about their operational performance (Chugh & Grandhi, 2013).
In this paper, we will provide you with some explanations on the benefits of our current database and provide recommendations on how you can leverage it to develop a competitive advantage. (needs to more specific)
Problem Statement
When it comes to the number of internet searches for these two culinary products over the last five years, Pho and Ramen have been neck and neck. This type of data can assist Asian cuisine restaurants in determining which foods are likely to be in great demand. With Business intelligence, restaurants can detect trends and adjust as needed. Restaurants like BlackRock may use business intelligence to discover patterns and make necessary adjustments such as what dishes to add and exclude from the menu.
Business Intelligence enables organizations to make more effective decisions by analyzing present and historical data. Business intelligence can increase an organization's performance and will allow them to develop a competitive advantage in the market. As a real estate management and investment firm, your organization’s database lacks company-wide adoption and isn’t measuring a lot of the right indicators. It is also currently costly, which has caused a lot of our executives to struggle with justifying its ROI.
Research Question
How can Blackrock utilize Microsoft PowerBI to convey the popularity between Soba, Ramen & Pho to make better business decisions?
Review
Our team conducted a research and found a number of the articles that explained on the value of business intelligence tools in the food industry. According to Eidizadeh, Salehzadeh, & Esfahani, (2017), stated that the role of business intelligence in business helps in the providing knowledge sharing and organizational innovation on value of gaining a competitive advantage. This is very crucial in that it will help our business in advancing in its activities and incorporating the value of knowledge sharing in the company. The author stated that the knowledge sharing, it impacts the gaining competitive advantage positively as this helps business expand into new localities. With this information, it is really ideal to mention that incorporating the business intelligence into our company will help in gaining of the competitive advantage.
As pointed out by Jayakrishnan, Mohamad, Azmi, & Abdullah, (2018), information systems is very crucial concept that exploits business intelligence in a company. This is very important in that it helps running of the business to be effective and operate smoothly. The author mention that through the incorporation of the business intelligence in the various businesses, it helps them in coming up with better decisions which will help them in gaining competitive advantage. In this case, this adoption will also help in stimulating the assimilation of the environmental factors which helps in persuading knowledge integration among the various information technology experts and decisions makers. The author also stated that there is need for studying on the knowledge from organizing big data and to use the business intelligence together in order to get the suitable analysis that will impart knowledge to the business governance. Additionally, this will help in providing some insights into the decisions making process of the various businesses as it affects the operation and gaining of the competitive advantage.
(This requires literary references that give background on our topic/field under Business Intelligence our paper) - factual information that makes the reader think that this was a good idea( Here is what the rest of the world is doing)
Methodology
For this research, we started by reviewing Blackrock's current database to select data that could be utilized to convey the popularity between Soba, Ramen & Pho. Although Blackrock barely had data on these meals, we found a google trends dataset that showed popularity between these three meals since 2004 worldwide. Our team filtered the data to focus on data points since 2016 to focus our research on more recent and relevant information. We also narrowed down the data to focus on the United States since Blackrock is based in the US geography. The data points were collected from the Google Trends website and is based on total searches in the selected geography and time range.
After collecting our data, we conducted research on potential Business Intelligence tools that would be well suited for Blackrock's operations. We selected PowerBI as our BI tool due to its unique benefits, which we believe will be beneficial to Blackrocks. For example, PowerBI seamlessly integrates with existing applications, which means it could be easily paired with Blackrocks's databases to inform their decision-making. PowerBI's lack of speed and space constraints will also allow Blackrock to access and analyze data quickly. Most importantly, PowerBI does not require specialized technical expertise, making it a great fit for Blackrock's limited technical expertise.
To analyze and import the data, we copied and pasted the dataset into PowerBI's Create tab. Using the create tab, we were able to create a report of the dataset on PowerBI automatically. We were immediately directed to the Power BI dashboard, which included numerous data visualizations tools like bars, charts, maps, etc. Due to the nature of our selected dataset, we utilized bar charts to effectively compare the popularity of the three meals. We used two bar charts that we believed would be easy to analyze and understand; one shows total searches of each meal since 2016, and one compares the number of searches each year since 2016.
Findings
The images below were taken from our final PowerBI report. The two graphs compare the popularity of three Asian meals since 2016. By using PowerBI as a BI tool, our team created bar charts using data collected from Google trends graphically.
Figure 1 shows the number of google searches conducted for Soba, Ramen, and Pho. As a result, it compares the popularity of these three meals. The bar chart conveys the unpopularity of Soba compared to Ramen and Pho. Ramen is the most popular of these three, followed by Pho. Figure 2 shows the google searches of these three meals every year since 2016. Ramen has consistently been the most popular search, followed by Pho. Soba has had the lowest number of google searches each year.
The bar chart below answers our research questions and shows us how Power BI can be used to convey the popularity between Soba, Ramen, and Pho. Blackrock can utilize this information to make better decisions for its customers and stakeholders.
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Figure 1
Figure 2
Conclusion
In conclusion, with PowerBI data visualizations tools, Blackrock executives can make data-driven decisions to provide more value for their consumers. This would enable them to create a competitive advantage, increase their revenues and overall performance. Business intelligence tools allow business leaders to identify inefficiencies and find ways to increase customer satisfaction quickly.
References
Chugh, R., & Grandhi, S. (2013). Why Business Intelligence? International Journal of E-Entrepreneurship and Innovation, 4(2), 1–14. https://doi.org/10.4018/ijeei.2013040101