Economic Analysis: Theory and Practice
 

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Business intelligence in the economic analysis of companies: Foreign experience in Russian conditions

Vol. 18, Iss. 4, APRIL 2019

PDF  Article PDF Version

Received: 18 March 2019

Received in revised form: 25 March 2019

Accepted: 3 April 2019

Available online: 26 April 2019

Subject Heading: BUSINESS PERFORMANCE

JEL Classification: M15, M16, M21, Р47

Pages: 681–695

https://doi.org/10.24891/ea.18.4.681

Mitrovic S. University of Novi Sad, Novi Sad, Republic of Serbia
Mitrovic.Stanislav@hotmail.com

ORCID id: not available

Subject The article analyzes the possibilities for applying the best practices related to business intelligence systems as information support to economic analysis of companies.
Objectives The study focuses on defining possibilities for adaptation of foreign experience in using business intelligence solutions in the economic analysis of company operations to optimize the given sphere in Russian conditions. The purpose is to draw up a program for information quality enhancement and company-wide business intelligence system development.
Methods The study rests on the tenets of the theory of information and business analysis, and on innovative research on the issue of applying business intelligence in the analysis of company activities.
Results The paper formulates a definition of business intelligence as applied to the economic analysis, underpins opportunities of Russian organizations for developing a methodology for control over information and data to ensure transparency. I provide a practical solution for the development of economic analysis of company business activities in the form of computer program. Its aim is to forecast and perform a scenario analysis of financial performance of organizations.
Conclusions The Russian market of business intelligence keeps pace with the global market as to accessibility of advanced technologies. However, there are some challenges in relation to introduction and application of business intelligence for the purposes of economic analysis. There is a need for further elaboration of methodology for business intelligence systems implementation as a comprehensive tool to manage various processes of modern business.

Keywords: business intelligence, economic analysis, information quality, data management

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