Business Intelligence in the Digital Economy Opportunities Limitations and Risks pptx

[...]... characteristics and their influence on risk perceptiveness, intelligence gathering, and risk taking in business decisions; Understanding why investments in corporate intelligence and information processing may not yield significant improvements in decision quality; Identifying the alternative approaches to managing risk more effectively through business intelligence and relationship management in the digital economy; ... exceedingly diverse and straddle almost every conceivable discipline including those of decision making and information management, which are the subject of the present discussion The approach adopted in this section seeks to address some of the key elements in the risk field, including: defining risk and uncertainty; examining risk resolution; investigating the role of information search, including the. .. this process, the individual is seeking information to remove the uncertainties and to resolve the risks involved in the decision There are, however, a series of factors that will reduce the individual’s effectiveness and efficiency in achieving these goals and gaining enhanced confidence concerning the decision The factors that contribute to the uncertainty and risk perceived by the individual may... Preface INTRODUCTION Focus and Content of this Book Business Intelligence in the Digital Economy: Opportunities, Limitations, and Risks Wisdom grows in those who help others achieve greatness - Colle Davis Who will build intelligence into your business processes? Organizations that need to gain more efficiency and manage or reduce costs are looking to Business Intelligence (BI) to address their requirements... resolution A countervailing outcome is that the digital economy itself may enhance the riskiness of the business situation through a more dynamic and rapidly changing environment and fundamental changes in the structures, processes, and relationships involved in business The whole emphasis in managing business risks is undergoing significant change An overview of the risk assessment and management process... economy; and Developing a conceptual model of risk resolution and risk management within the context of the digital economy The chapter thus explores the premise that increased business intelligence reduces the risk inherent in decision making and provides suggestions on the appropriate management of individuals involved in information search activities and risk management A short case scenario is introduced... situation; Addressing the contribution of intelligence and information gathering toward resolving some of the uncertainty and improving the identification, measurement, and management of risk; Evaluating the more usual approach to risk resolution through information search and processing; Recognizing the limitations of this approach, such as, the ability to search and source relevant information, the issue... especially the strategic developments by competitors As Fleur discovered, the dynamics of the situation and the recognition that delay in making a decision itself may add further to the risk perceived The organization needed to “manage” the risks, the collection of appropriate business intelligence, and the decision process itself Business Intelligence and Risk Resolution Seeking to amalgamate the strands... highlighting the key dimensions The changes in business structures, operations, and relationships as a consequence of the digital economy are examined and the implications for risk assessment and management are assessed Investigating the accepted wisdom that increasing information will improve risk assessment, the chapter proposes that the initial perceptions of uncertainty and risk relating to the decisions... search Information Processing and Risk Resolution Developing the discussion in the previous section towards the information processing behavior of the individual could result in the process described in Figure 5 In seeking to resolve the risks in a given situation, the decision maker will search for appropriate information, process, analyze, evaluate, and synthesize this with other information relating . Cataloging -in- Publication Data Business intelligence in the digital economy : opportunities, limitations, and risks / Mahesh Raisinghani, editor. p. cm. Includes bibliographical references and index. . management within the context of the digital economy. The chapter thus explores the premise that increased business intelligence reduces the risk inherent in decision making and provides suggestions on the appropriate. taking in business decisions; g. Understanding why investments in corporate intelligence and information processing may not yield significant improvements in decision quality; h. Identifying the