Business Intelligence to Maximise Profits

Objective (Industry over view, BI summation)

I have chosen this matter because the decisions manufactured in oil and gas companies have a huge effect on global market and overall environment. Requirements of the developed overall economy for liquid natural gas and essential oil - both as petrol and as in raw materials for the chemical industry is steadily increasing. Demand lifting has resulted in sharp upsurge in the prices for oil and then for hydrocarbon raw materials all together, which has induced increase in removal of these products in all countries possessing deposits of hydrocarbons. The oil and gas sector became the primary donor of financial resources for the state of hawaii budget of the united states. This topic will cover how Business Cleverness (BI) tools support management to consolidate procedures and to increase profits, through chopping costs and data integration. BI along with data warehouses and business analytics stand for that toolkit that allows engine oil & gas companies to take a maximum of the info from the available main data, to expose the basic styles and to build forecasting models, i. e. , finally, to enhance the available company data into a way to obtain additional profit. Furthermore to BI, conditions like business performance management (BPM), business process management (also BPM), corporate performance management (CPM), and business activity monitoring (BAM), also have emerged. Many of these are a part of BI. They are all dependent on BI tools, but it should be known that BI is not reliant on them.

In my understanding BI-projects need to be considered not only as thing of reduced amount of bills, but also as the tool of development which can bring income to company. Functions of analytics and forecasting which can be intended for the decision of tactical questions, will help to place priorities during crisis time, to explain principal causes of bills and potential sources of growth. Having found out them such company could work over deduction of favourable clients and increase of profitableness of business at the expense of attraction of the new. Only by making use of BI you'll be able to carry out forecasting of situation, setting up different conditions and obtaining results of forecasts with regards to the set variables.

The primary request of BI in coal and oil companies is to help management consolidate businesses and spend less. The essential goals have been to shorten enough time necessary to create studies and analyses, increase the correctness of information and create a single information repository. The most common software areas for BI have been to provide financial records and analyses, and support business procedures with a particular focus on ERP. Inside our days the modern large oil and gas companies represent vertically included companies. Vertical integration details the ownership or control by a firm of different stages of the creation process, e. g. , petroleum refining organizations using "downstream" the terminal storage area and retail gas syndication facilities and "upstream" the crude olive oil field wells and vehicles pipelines. It can be achieved through M&A (mergers and acquisitions) or investment. Upstream is a term which identifies the exploration and production industries within the oil and gas industry. Downstream, in the context of the oil and gas industry, pertains to the refining and marketing industries of the industry. Oil and gas products are goods and are, therefore, competitive predicated on price. This makes the industry cost-conscious and highly centered upon the price of crude oil, the essential business driver in the industry and the raw material for development (Skriletz, 2002).

Purpose of the research

The increased requirements to efficiency and quality of accepted decisions whatsoever levels of businesses in engine oil & gas companies brings about finding of decision-making support techniques. It assumes possession of the real universal home elevators an ailment and tendencies of development of business by methods and BI means. Thus the volume of the info which is necessary for considering for formation of ideal well-founded decisions continuously grows. It causes a predicament when it becomes effectively impossible to use the business without use of modern means of information support. Transactional data is good for keeping track of what is occurring in an corporation, but is not suitable to finding out why things are happening or predicting future performance. In other words, after years of putting potentially valuable financial data into the corporate directories, it is currently time to place the tools in destination to get the info from the same systems and set up it in useful ways to support the decision-making process.

The purpose of the study is to show that BI is certainly a tool that gives the opportunity to the organisations to transform the accumulated data in the information on business, and then the information into additional way to obtain profit. The research question is the way the value of BI should be considered in the context of profitable business action. BI is becoming an expected business competency for improving decision-making effectiveness. Leading corporations are building competency in areas of BI such as decision modelling and support so that workers, managers and executives can take the very best action in a given business situation. Missing worthwhile BI tools essential oil companies risks to remain competitive or to sustain in a company.

What is more I wish to apply my research effects in KMG, the situation is the fact BI is not developed in Kazakhstan, therefore i desire my knowledge will be gainful to my company as workplace also to me as staff.

Literature

There happens to be enough marketing attention focusing on this subject and relating to this topic. A majority of these can be found in IT magazines, magazine articles and on the internet, but the credibility of these sources is doubtful. They may also be written by people who have no idea a lot about the topic and have created an opinion predicated on minimum information. IT periodicals articles are often written in a biased way in terms of being towards one seller, such as company propaganda or from the point of view of the copy writer. This data can be deceptive, articles compiled by Gartner and TDWI analysts have more credibility and raise important questions and viewpoints which I believe is highly recommended in my record. Below is the set of literature and resources I am inclined to use within my research:

The Earnings Impact of Business Brains (2007), Williams S. , Williams N. . Morgam Kaufmann Publishers

This book is made up of a great deal of mini-cases and useful information for my project.

Business Cleverness, The Savvy Manager's Guide (2009), D. Loshin, Morgan Kaufmann Publishers

This book offers a knowledge bottom for the decision makers to determine the value of integrating BI into the company. Within this book I want to look at the modern view of the collection and integration of transactional and research data as a very important resource you can use for analytical purposes.

BI Success Factors: Tools for Aligning your company in the Global Market (2009), O. Parr Rud, John Wiley & Sons

Financial BI : Movements, Technology, Software Selection and Execution (2002), Nils Rasmussen, Paul S. Goldy, Per O. Solli, Publisher: John Wiley & Sons; 1 edition

This book will help me to examine how managers can quickly and easily analyse the financial data in the organization databases in order to be in a position to make more smart decisions about the future. Consequently it will help me to analyse the impact of BI financial tools.

TDWI Best Practices Reports Series

This series is designed to educate technological and business specialists about new BI technology, ideas, or approaches that address a significant problem or concern. Research for the records is conducted via interviews with skillfully developed and leading-edge consumer companies and is supplemented by research of BI specialists.

Gartner Inc.

Gartner source is the most detailed collection of examination and advice for the users and suppliers of technology.

Methodology

In my research I want to follow multi -method, which will contain:

Interview: To get more practical point of view I am going to interview those who focus on implementation of BI tools and use SAP-ERP in gas transport, to become more precise financial department in KazMunayGas and KazTransGas. KazMunayGas is the state-owned oil and gas company of Kazakhstan and KazTransGas one of KazMunayGaz subsidiaries in charge of gas transportation.

Trend evaluation: Phenomena that are or have been around in the procedure of change are examined to identify and survey the guidelines of trends and to make interpretations and forecasts.

Literature: WHEN I mentioned previously

Qualitative data resources (TDWI and Gartner) will contain different instances in my own research. Performing qualitative research requires an 'available' attitude to be able to comprehend how others experience their situation. Qualitative research is characterised by the actual fact that the researcher works based on an available question

Qualitative research represents the overall name for a group of investigative steps with common characteristics. Also, qualitative research is empirical in the same sense as other known forms of clinical inquiry. It depends on observation.

Qualitative research includes several forms of the investigation. Each of them share this attribute: The data used do not hold commonly to quantification, specification, objectification, or classification. Because of that, common statistical strategies cannot be used for data screen or analysis. Typical of such data might be accounts of participant observation or the texts of in-depth and relatively unstructured interviews.

Project plan and schedule

  • More than 7,000 students prefer us to work on their projects
  • 90% of customers trust us with more than 5 assignments
Special
price
£5
/page
submit a project

Latest posts

Read more informative topics on our blog
Shiseido Company Limited Is A Japanese Makeup Company Marketing Essay
Marketing Strength: Among the main talents of Shiseido is its high quality products. To be able to satisfy customers, the company invested a great deal...
Fail To Plan You Plan To Fail Management Essay
Management This report will concentrate on two aspects of project management, their importance within the overall project management process. The report...
Role of High-protein Diet in Weight Management
Nursing Structured Representation: Probably one of the most wide-spread and popular problems on earth is the weight problems that people is suffering...
Waste To Prosperity Program Environmental Sciences Essay
Environmental Sciences Urban and rural regions of India produce very much garbage daily and hurting by various kinds of pollutions which are increasing...
Water POLLUTING OF THE ENVIRONMENT | Analysis
Environmental Studies Pollution Introduction Many people across the world can remember having walked on the street and seen smoke cigars in the air or...
Soft System Methodology
Information Technology Andrzej Werner Soft System Methodology can be described as a 7-step process aimed to help provide a solution to true to life...
Strategic and Coherent methods to Recruiting management
Business Traditionally HRM has been regarded as the tactical and coherent method of the management of the organizations most appreciated assets - the...
Religious Healthcare Organisation
Health Religious Health Care Introduction I help the firm of consulting. Spiritual HEALTHCARE of Middleville community have appointed us to identify and...
Enterprise Rent AN AUTOMOBILE Case Analysis Business Essay
Commerce With a massive network of over 6,000 local rental locations and 850,000 automobiles, Organization Rent-A-Car is the greatest rental car company...
Check the price
for your project
we accept
  • Visa payment system
  • MasterCard payment system
  • Payoneer payment system
  • PayPal payment system
Money back
guarantee
100% quality