Using Business Intelligence to Support Data-Driven Decision Making in SMEs
Keywords:
Business Intelligence, SMEs, making decisions based on data, data analytics, Artificial IntelligenceAbstract
Business Intelligence (BI) is an approach that Micro, Small, and Medium Enterprises (MSMEs) can utilize to leverage data in support of decision-making processes. This study aims to analyze the use of Business Intelligence in supporting data-driven decision-making within MSMEs and to identify the benefits, enabling factors, and obstacles associated with its implementation. The research employed a literature review method, examining and analyzing various studies concerning Business Intelligence, MSMEs, data-driven decision-making, and relevant technological advancements. The gathered literature was selected and synthesized based on key themes to provide an overview of BI implementation in MSMEs. The findings indicate that Business Intelligence enables MSMEs to transform data regarding transactions, sales, customers, inventory, and operational activities into more structured information. This information can be used to understand sales patterns, identify popular products, evaluate business conditions, and inform business strategy formulation. However, BI implementation still faces challenges related to data quality, human resource limitations, costs, technological readiness, system integration, and information security. Advancements in cloud technology, Application Programming Interfaces (APIs), predictive analytics, and Artificial Intelligence (AI) offer opportunities to enhance BI capabilities, enabling MSMEs to conduct more comprehensive analyses. Based on the study results, the adoption of Business Intelligence should be tailored to the specific needs and capabilities of MSMEs and implemented incrementally; this ensures that data is optimally utilized as a foundation for decision-making and business development.
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