(Industry: Financial Services, Organization : any, could be commercial or investment bank or financial brokerage company) Assignments Week One Individual Assignment: Business Intelligence MOA (Outcome 3,4) Context for Assignment Review current BI system needs for an organization and pick a particular industry (Industry : Financial Services, Organization : any, could be commercial or investment bank or financial brokerage company) and organization as a class project for a new or enhanced BI system. Research the industry and types of data, data fields, reporting, etc. that are necessary for that industry and what BI system is currently being utilized. Review the five steps to an organization’s strategic planning process. (Mentioned below) You will complete steps one and two for your assignment. The remaining three steps will be included in upcoming assignments for the course. You will also conduct a Marketing Opportunity Analysis (MOA) regarding the organization's data for this assignment that includes a SWOT analysis. Task Description Complete the following tasks for this assignment: 1. Pick an industry and specific organization 2. Review the organization’s existing strategic planning process as outlined in week one. Research and document the organizations' existing mission and vision statement (which is step one of the five planning steps from week one). 3. Conduct a new Data Marketing Opportunity Analysis or referred to as BIO-Business Intelligence Opportunity within your text (as it relates to their data needs) for their organization which is step two of the five planning steps from week one . Follow the steps outlined in the Marketing Opportunity Analysis instructions below by answering at least six of these questions as they specifically relate to your industry through your market research: 4. Questions 1. What are some of the competitive forces at work in your industry for data storage and retrieval within BIO? Are there new competitive players within your industry who utilize their data more effectively? And what is the competition based upon regarding their data? 2. What is the direction and nature of change within the industry regarding a BIO and data analytics? What type of new data trends are emerging? 3. Where is your organization? Is the organization in relationship to others regarding data analytics progress? 4. What is the value chain for this particular organization regarding customer data? How is their data changing? 5. How is the organization creating value for the customer—through lower prices and transaction costs or higher quality? Are there any places in the customer valuechain where additional or altered data could generate more customer value and revenue? 6. Does the organization manage its operations utilizing the finest practices available? Are they taking full advantage of the data within their supply chain management, customer relationship management, and enterprise systems? 7. Does the organization leverage its core data competencies? 8. Could the organization benefit from strategic partnerships and value webs regarding data management? 9. Where in the value chain would a new or updated BI system provide the greatest value to the organization? 5. Once you have answered all of the questions above (with cited resources), conduct a Business Intelligence SWOT analysis for your organization. Include potential implications for each strength, weakness, opportunity and threat (must include two factors in each category). Delivery The Business Intelligence MOA (BIO) should be 4 double spaced pages in length. Include all references to your research. The page count should include only assignment information. A cover sheet, references, etc. do not include in your assignment page count.BUILDING KNOWLEDGE: Strategic Planning Process and the Business Intelligence Model (BIM) (Outcome #3) So how do you define an organization’s strategy? And what type of information is needed for the strategic, tactical and operational models? Does it require more or less data intelligence within the decision process? After defining the five strategic planning activities below, an organization needs to then decide what types of decisions, data and reports need to data mined from this database by creating a Business Intelligence Model (BIM). Strategic Planning Process 1. Create company vision and Mission- an organization should visibly explain both their vision and mission statements and the goals and objectives aligned with them. What do we want to portray within our market? 2. Conduct a Marketing Opportunity Analysis (MOA)-also called a Situational Analysis: Analyze both external and internal environments of an organization, compare to competition and benchmark, conduct a SWOT and external marketplace analysis. Where do we fit in the marketplace? 3. Construct Organization Strategies- create goals and objectives and describe actions, processes and type of resources that are needed within the organization to accomplish these goals. Where do we want to go? 4. Execute Strategies-Choose the most important goals and objectives that have been generated and perform them employing both mapped out organizational processes and resources. How do we operationally get there? 5. Calculate and Examine Performance- Consistently calculate and monitor performance to track organizational successes and failures. What do we need to continue to focus on? What do we need to do differently? BUILDING KNOWLEDGE: Steps to Building a Solid Business Intelligence Management System (Outcome #4) Business Intelligence Solution In the above link are the eight steps that an organization should take to build a comprehensive business intelligence database and network. Some companies take the leap and purchase software/hardware to implement all eight types of information processing, data analysis and reporting methods. Most organizations start to build upon their data and add on the text and data mining and predictive and prescriptive analytics as their company grows.Analysis: Detailed examination of the elements or structure of something, typically as a basis for discussion or interpretation; a careful study of something to learn about its parts, what they do, and how they are related to each other. Real-Time Data Monitoring: A process through which an administrator can review, evaluate and modify the addition, deletion, modification and use of data on software, a database or system. It enables data administrators to review the overall processes and a function performed on the data in real time, or as it happens, through graphical charts and bars on a central interface/dashboard. Dashboard (Business Intelligence Dashboard): A visual presentation of critical data for executives to view. It allows executives to see hot spots in seconds and explore the situation. Dashboards consolidate and arrange numbers, metrics and sometimes performance scorecards on a single screen. Advanced Analytics: A broad category of inquiry that can be used to help drive changes and improvements in business practices. Tools for advanced analytics focus on forecasting future events and behaviors, allowing businesses to conduct what-if analyses to predict the effects of potential changes in business strategies Data Visualization: A general term that describes any effort to help people understand the significance of data by placing it in a visual context. Patterns, trends and correlations that might go undetected in text-based data can be exposed and recognized easier with data visualization software. Mobile Business Intelligence: Software that extends desktop business intelligence applications so they can be used on a mobile device. MBI applications optimizes traditional BI reports so they can be viewed easily on a small screen and is ideal for displaying key performance indicators (KPIs) and alerts on small screens with simple charts, graphs, and sparklines. MBI is beneficial as it allows data that’s captured by the mobile device to be integrated on-the-fly so that reports are current and mobile workers can make informed decisions in real time. Collaborative Business Intelligence: The merging of business intelligence software with collaboration tools, including social and Web 2.0 technologies to support improved data-driven decision making. Scorecards (Performance Scorecards): A graphical representation of the progress over time of some entity, such as an enterprise, an employee or a business unit, toward some specified goal or goals. Scorecards are widely used in many industries throughout both the public and private sectors. The Performance Scorecard is an essential component of the balanced scorecard methodology. Reports: Any communication artifact prepared with the specific intention of conveying information in a presentable form.