Business Intellegence and Business Success in The Digital Era

Introduction

BI or Business Intelligence is a profession whose job is to process and analyze data related to business so that it can help companies make the right decisions. The final results of this process include industry needs, profit figures, appropriate marketing strategies and other decision makers. An analyst can utilize business intelligence to provide performance and competitor benchmarks to make the company run smoother and more efficiently. Analysts can also more easily see market trends to increase company sales or revenue. If in business institutions, business intelligence is used to improve performance through choosing the right business strategy, then in non-profit institutions, business intelligence can be used to improve company performance through increasing the efficiency of work implementation so that in the end there will be improvements in services to the community and budget management. In this digital era, online business has many advantages compared to offline business. So, if online business actors do not try to be creative and innovative, their businesses will be far behind new business actors. Sales information systems for measuring revenue performance, stock price charts, and almost all applications that have dashboards are applications of business intelligence. Almost all digital business platforms in Indonesia already use BI technology. MSME businesses also need to be encouraged to use BI technology so they can see developments in market segmentation and increase sales. Meanwhile, for startup businesses in Indonesia, on average they already use BI dashboards in their business application processes.

DISCUSSION

Business intelligence can help companies make better management decisions based on current data or data from past periods in their business context. An analyst can utilize business intelligence to provide performance and competitor benchmarks to make the company run smoother and more efficiently. Analysts can also more easily see market trends to increase company sales or revenues. The benefits of business intelligence for companies are as follows:

a.Identify ways to increase profits

b. Analyze consumer behavior

c. Comparing data with competitors

d. Track performance or track performance

e. Optimizing the Company's operational processes

f. Predict the Company's success

g. Look at market trends

h. Discover issues or problems

Aligning business intelligence strategy with the company's business strategy will provide many benefits. When a company determines its business goals, several things must be taken into account, including identifying the needs in each section/stage, determining when the stages start, and then measuring the success of each stage in achieving the goals. And the last thing is to measure the level of loyalty of buyers, to what extent they are loyal to the company. If the business strategy is balanced with the business intelligence strategy, in this case customer loyalty, then the company will easily measure progress towards achieving company goals. The advantage of balancing a business intelligence strategy with a company's business strategy is that it directs the information technology division in which direction BI investments should be made and what types of processes should be made a top priority [3]. In this digital era, online business does have many advantages compared to offline business. So, if online business actors do not try to be creative and innovative, their businesses will be far behind new business actors. Sales information systems for measuring revenue performance, stock price graphs, and almost all applications that have dashboards are applications of business intelligence. Almost all digital business platforms in Indonesia already use BI technology, for example the ApotikKuota application. ApotikKuota or apotikkuota.com is an application for top up credit, data packages or quotas, internet vouchers, PLN electricity tokens, online game vouchers, cheap and reliable Gopay, Grab, OVO balances. 

MSME businesses also need to be encouraged to use BI technology so they can see developments in market segmentation and increase sales. The government and organizations have conducted a lot of organizational and financial management training for MSMEs in Indonesia to improve their business performance. The challenge that the government is still facing today is developing the MSME model towards the Industrial Revolution 4.0 through strengthening literacy and using technology for MSMEs to improve their competitive performance in the global market.

CONCLUSIONS AND RECOMMENDATIONS

The results of this research show that business intelligence can help companies make better management decisions based on current data or data from previous periods in their business context. In this digital era, almost all digital business platforms in Indonesia already use BI technology. MSME businesses also need to be encouraged to use BI technology so they can see developments in market segmentation and increase sales. Meanwhile, for startup businesses in Indonesia, on average they already use BI dashboards in their business application processes.

Bibliography

Kartika, Neng Evi. 2019. "The Role of Business Intelligence and Competitive Strategy on Digital Business Performance of PT. Telekomunikasi Indonesia, Tbk." Thesis, Faculty of Economics and Business, Padjadjaran University. http://repository.unpad.ac.id/frontdoor/index/index/docId/10953 (accessed 22 September 2021)

Adhi Nugroho, Stevan (2008). "Business Intelligence".http://stevan777.wordpress.com/2008/01/03/paperbusinessintelligence/3   January   2008   (diakses   22 September 2021)

Utami, Citra Berliani; Faruk, Lukman; and Musyarrofah, Ofah. 2015. "The Influence of Business Intelligence on the Business World". ICIT Journal, Vol.1, No.1, August 2015, ISSN : 2356 --5195