IMPACT OF RIGHT-TIME BUSINESS INTELLIGENCE TOOLS ON EFFICIENCY IN DECISION MAKING

As a result of the dynamics of modern business the risks of modern business demand that business applications have a rational component in making decisions. By using the data, a rational component in the decision making is enabled, as well as the knowledge needed to process and interpret the data when making business decisions, and using the concept of business intelligence is applied. The growing dynamics of business contributed to the need for growth in speed in making business decisions, which induced the evolution of a new concept in terms of business intelligence that has been made in the form of right-time business intelligence tools. As a new concept that has only recently emerged from the theoretical framework, right-time business intelligence concept blurs the distinction between rational strategic and operational decision-making, allowing the operational level of decision-making to use platforms and tools that were until recently reserved for strategic decision-making. Business intelligence greatly improves business decision-making, in particular through the reduction of latency in business decision, which was confirmed by conducted primary research. Its general conclusion is that there is cohesion between performance and the successful application of business intelligence tools.