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Intelligence and Environment Business Literature Review

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Introduction                                      

The current business environment is highly dynamic and complex in nature where every business organization is struggling to attain competitive advantages and survive in the volatile business environment. The organizations in the globalized era aare facing with significant challenges and problems arising from the external environment. In this regard, different organizations have espoused varied dimensions to determine solutions to these problems and challenges for ensuring the uninterrupted flow of business processes.  Nevertheless, in pursuit of appropriate solutions by the business organizations’ need for relevant information has increased to manifold. Accordingly, it has become important for them to obtain appropriate information and expertise in order to meet the wider objectives of market organisations. Business intelligence has arisen in this respect as a modern area that has intrigued researchers worldwide to participate in study efforts to achieve a more detailed understanding of the evolving field of business intelligence. Business intelligence is commonly claimed to be an umbrella word that incorporates methods, strategies and solutions that can be utilised by management to evaluate challenges and associated solutions. More precisely, the idea of ‘Economic Intelligence’ is understood as the introduction and execution of human cognitive capabilities and artificial intelligence technology in order to make choices and solve the issues and obstacles posed by business managers. In the modern age, various companies around sectors, covering a broad variety, such as banking and finance industries, retail industries, telecommunication industries, have defined market intelligence programmes to be applied. Moreover, in the sense of foreign firms and the global organisations of the 21st century, the introduction of the market intelligence framework is largely clear (Rouhani, Asgari & Mirhosseini, 2012; Ranjan, 2009).

The framework of this literature review is made up of five basic characteristics. Definitions and common dynamics in business intelligence are presented at the outset. The sense of business intelligence and the key characteristics of business intelligence are primarily included in this presentation. This knowledge may begin us clarify the foundations of market intelligence required for the following parts of this research to be organised. The argument on the historical evolution of market intelligence was then outlined. This would make it easy to grasp the roots of market intelligence. Again, the debate on market intelligence systems and dimensions was undertaken with the goal of discussing the different contexts in which the concept can be usefully applied. In addition, in the analysis carried out from now on, the debate on factors and performance drivers for market intelligence was presented. This data can help to develop a coherent view of the variables that affect market intelligence and the major drivers that lead to its success. Subsequently, to assess its usefulness in the real-life condition of business organisations, the advantages and challenges of business intelligence were addressed. Conclusions, which provide the summarised details of the contents addressed in the preceding pages, were then submitted. As identified in the report, this segment summarises the most important facts and knowledge about market intelligence and its usefulness in solving the challenges posed by contemporary business organisations. The segment is also required to assist in correctly interpreting the most important information pertaining to the study field.

Intelligence and Environment Business Literature Review

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