5BU010 Business Intelligence, Information Systems and Digital Capability Assignment Sample 2023
Introduction
Digital capability generation is a factor of primary focus in industries all over the world. Businesses all over this world are trying to build up their digital capabilities as much as possible. Business intelligence has to be used very cautiously by various firms in the retail sector to drive certain key changes. The retail industry in Malaysia is developing at an extremely fast pace these days along with the development of this country. This means that intelligence along with information systems have to be properly assessed and developed to reach the desired goals. AEON is one such company that has been in the Malaysian retail scenario for quite some time now and is currently trying to focus more upon digitization and generate intelligence as per the needs of the current time.
Analysis and evaluation of contemporary issues and challenges in the management of Information Systems
Management Information Systems is extremely important for any firm to survive in this current business scenario. This is specifically important in the case of retail firms because these firms operate as per the whims of various associated customers. In this extremely competitive situation, it has become extremely important to chalk out various customer requirements with that of a particular market survey. According to the opinion of Al-Suraihi et al. (2020), various analytics that is generated through this is extremely helpful to arrive at key business policies. Information related to various divisions of an organization along with that of general customer data is best managed with the help of Management Information Systems. Making a proper Management Information System requires a thorough analysis of various prevalent business issues. But this is an extremely difficult task especially for a country like that of Malaysia which has people from different socio-cultural backgrounds.
Another requirement to ensure a proper management information system is to understand and align it with that of different business goals. As per the opinion of Hoque (2018), this means that organizations like that of AEON have got to frame proper policies that best suit needs and then set up an architecture for their Information systems. Various industries that are operating in the Malaysian retail scenario however are more focused these days to create multifaceted business policies instead of a single one. Thus it becomes difficult to make a proper design for organizational Management Information systems to include all of these approaches. Besides in the Management Information system, there tend to be connections among various related subsidiaries in a branch-like structure. Therefore, when any problem occurs in one aspect of MIS software, the whole organization seems to go to a shutdown situation.
Employee data and various statistics regarding the performances of various employees are also stored through Management Information System. This means that this system has got to be modeled in such a way that it becomes capable of making employees reach their highest levels of efficiency. According to the opinion of Chia and Kee (2018), however, in today’s world employee relationships have also become more complex as compared to previous days. Certain non-attributable factors tend to guide employee performance as well. But a total dependence upon just usage of management Information systems tends to eliminate this important aspect and generate a threat to an organization.
Management Information System for the retail sector needs to be properly tuned in with that of various requirements of an organization. As per the opinion of MahbubulHye et al. (2020), problems arise in this scenario because the retail sector is constantly expanding and thus frameworks tend to get older sooner these days. Customers these days are demanding new products and services almost every day. Thus it becomes a huge difficulty to plan a new Management Information System and integrate it with that of an organization.
Analysis and evaluation of Digital Capability within the Case Study Organization
AEON is quite a famous company in the retail scenario which has been quite quick in being able to establish a good foothold for itself. AEON has already implemented some of the most advanced technological modules to drive key changes in the Malaysian retail sector. This includes the creation of an attractive digital format along with the creation of a proper marketing analytical module. According to the opinion of Dales et al. (2019), the retail industry in Malaysia caters to a wide range of people who belong to different cultural backgrounds and thereby posing a widely different set of tastes and preferences. Inclusion of all these different kinds of needs a very sophisticated technological system that can analyze various customers tastes as well as business scenarios. Companies in certain technologically advanced countries of this world have already taken help from Artificial Intelligence to drive their business results.
AEON already possesses a good technological framework but with the fast-paced development that is currently being seen in certain countries of Asia, certain advanced technologies are to be integrated. As per the opinion of Selvaraju et al. (2017), in various European and North American countries, there has been an integration of various scheduled tasks with that of Artificial Intelligence. Artificial intelligence makes an automatic understanding of various key business requirements by itself. This becomes helpful; for framing organizational policies as well. Thus most day-to-day and mundane jobs can be quite easily left to be implemented with that of Artificial Intelligence. According to the opinion of Hasim et al. (2018), chat bots that are associated with more of various creative perspectives can be left in the hands of different policymakers. AEON already has a highly developed application that can be run across multiple devices, but this application is not quite as developed as that of various countries. AEON can thus integrate A.I technology to form a proper analysis of various purchases that are generally made by different customers across various sectors. Artificial intelligence can automatically predict certain situations after going through certain cases of similar types.
This means after certain kinds of customers tend to buy certain combinations of goods in a repetitive manner, A. I can predict their subsequent purchase decisions. Purchase decisions and customer socio-cultural and demographic background tend to have a huge interconnection, which can also be established through help from Artificial intelligence modules. Artificial Intelligence thus can solve a lot of costs that are usually associated to take up various kinds of market research as well. This means that some major tasks in the retail industry in Asia can be easily sorted out through the A. I module.
A Chabot is another important feature that has been introduced across various companies that operate in the retail sector. Chat bots are extremely helpful to reduce pressure upon employees to solve various problems of different customers. This means that certain routine jobs related to document generation or solving various queries can be easily sorted out by chat bots. As per the opinion of Polas et al. (2019), chat bots make it hugely convenient for customers to access certain key information for retrieval of certain key documents related to their purchase. These have been quite a common sight for various big retail companies around this world. AEON has got to develop this feature quite a lot to be able to give more satisfaction to their customers.
Costumes these days do not like to go to offices of their retail stores for various kinds of simple tasks. This has now been shifted to the Chabot module, as this module can help customers to solve initial issues and reach offices for seeking guidance for various complicated ones As per the opinion of Dinesh et al. (2018), A. Integration with a Chabot can create a very interactive experience for various customers who have made purchases or are thinking of making ones. Chat bots should be well equipped to allow customers to be able to quite easily navigate across various customer data. Queries regarding current businesses as well as Corporate Social responsibility can also be done through these.
Recommendations
Organizational development or service improvements within an organization can be ensured and enhanced by implementing effective management of the information system, digital capabilities of a company, and its business intelligence. It can be recommended to the company utilize its digital competencies to develop its digital engagement. The development of the digital engagement capabilities of AEON Malaysia can help the multinational company to focus on its customers (Khin and Ho, 2019). This enables the company to focus on its external customers and market leaders in the retail industry in the Asian retail industry. Developing digital engagement through social media and other platforms can help the company to engage its customers effectively in the social media sites of the company. This eventually helps this company to enhance its sales and performance in the Asian retail industry.
The company can be suggested to utilize modern technologies such as AI (Artificial Intelligence) and Machine Learning (ML) within their business to engage their customers appropriately. Integration of chatbots using AI can act as a virtual assistant of the company that can help the organization to engage its customers anytime from anywhere (Gurbaxani and Dunkle, 2019). It can also be recommended to the company to enable an analytic-driven business insight which provides the company superior abilities to mine significant data for its business and services development in the Asian retail industry.
Integration of analytics-based insights within its business can help this company to obtain real-time data and information on its market functioning and customer engagement which eventually can assist this company to analyze the areas they have been lagging and develop effective solutions to fill the gaps (Hanelt et al. 2021). The retail organization is highly competitive in the Asian market and so the company needs to develop its digital and informational competencies to win a competitive advantage over its competitors.
Opportunities for growth and innovation within the company
AEON Malaysia can be suggested to make proper use of business intelligence to improve its market presence in the Asian Retail Industry. The implication of business intelligence using analytic tools has been growing significantly in the retail and manufacturing industry. One of the major reasons being the majority of business organizations collects and use data and information proactively. Implementation of business intelligence in AEON Malaysia can be beneficial for prospects of this company as it will help the company to predict market trends and customers’ needs effectively. Business intelligence can help the retail organization to make proper use of its information system (Ibarra et al. 2018). Proper utilization of business intelligence and information systems can help AEON Malaysia to enhance its existing services and develop new services to attract more customers.
Business intelligence enables the company to process, extract and analyze its data effectively in order to obtain maximum benefits from the data and information gathered by the company. Integration of business intelligence can help the company to improve its business processes by rectifying the areas it has been lagging such as customer satisfaction. It can also help the managerial decisions be more precise and appropriate to enhance the overall productivity of AEON Malaysia (Lim et al. 2020). Business intelligence, information system, and digital capabilities can help this organization to evaluate and predict its market before its competitors which can improve the number of sales and market position of this company. Besides, business intelligence and information systems can assist this company to identify the purchasing behaviour of its loyal customers that eventually helping them to analyze how to enhance their satisfaction level.
Integration of these technologies in a business can further help the company to perform its market segmentation in the Asian retail industry properly which can help this company to determine its target market based on its offerings and analyze the factors that motivate them to make purchases. Integration of business intelligence and information systems further helps the firm to enhance its transparency and efficiency in terms of its internal affairs. Furthermore, implementation of these modern technologies can help AEON Malaysia to identify its operational and financial risks at the initial stages before the risks turn out to be major problems within the organization (Ibarra et al. 2018). It enables standardization and compatibility among various structures of this company. It can be stated in this aspect that implementation of business intelligence, information system, and digital capability in business can help this company to obtain various growth and innovation opportunities.
Conclusion
It can be concluded from the above discussion that business intelligence, information systems and digital capability are some key issues which have been gradually focused upon by various industries. This is mainly done by these organizations in order to drive strategic results that give them competitive advantage over others. Digitization for business intelligence has got to be done in an integrated manner in order to increase efficiency in an organizational structure. Companies in Asia, specifically those operating in the retail sector are seeing a huge number of changes. This means that these organizations like AEON have got to introduce some even more advanced technologies as per needs of current times. Priority has been given here to that of two new major tools namely that of Artificial intelligence and that of Chatbots to generate better customer experiences. Artificial Intelligence can be easily replaced to do a lot of routine day-to-day jobs whereas more important tasks can be shifted to that of human personnel. This thus helps employees to stay focused upon these particular kinds of tasks which are mainly related to policy formulations. Besides, customers also tend to have huge conveniences in these scenarios.
References
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