Global Journal of Management and Business Research, A: Administration and Management, Volume 22 Issue 5

express as an umbrella term which defines as the gathering of applications, tools, methods, best approaches and processes to collect and analyse data of the organization which will be useful in the decision- making process. When it comes to BI tools, they can be defined as the licensed software which give support to build different types of dashboards, reports and predictions by accessing multiple organizational data. Organizations use different types of analytical tools to analyse their organizational data. In 2021, research was conducted to identify the different types of business intelligence tools and techniques which are used in the analysis of information. Microsoft dynamics, Factorial HR, IBM Cognos Analytics, SAP business intelligence, Oracle business intelligence, Tableau, Sisense and clear analytics are the business intelligence tools used by organizations to meet different types of business needs. Many large companies use BI tools like SAP, Microsoft and Oracle to analyse and visualize their data [7]. b) The impact of BI on Banks’ Business Performance In order to stay competitive in today’s complex business world, organizations need new tools and techniques to improve their income, and also to meet the expectations of their customers [8]. It is essential to use the BI tools to measure and interpret the business performance of the banks with the proper data mining. In addition to competitiveness, organizations face many issues when operating in this business world. Hence firms apply many tools and techniques to overcome these problems. Among them, Business Intelligence (BI) is one of the best solutions for many firms to overcome this problem and the benefits of applying BI are highly attracting the firms all over the world [9]. Hence it is important to investigate the relationship between the BI and the business performance of an organization. There are many research studies in the literature which seek this relationship in many contexts specially relating to the banking industry. As examples, a case study of Saman Bank of Iran revealed that by using BI solutions it is easy to overcome the different problems of the banking industry such as severe competition, providing demanded services and customer willingness [10]. [11] in China did a review paper and found that when applying BI in the banking industry it many problems such as, the way of improving customer service, the way of controlling financial risks, the way of improving the operating performance of the banks and how to ensure the improvements of profits. Nevertheless, it is important put equal weightage for other functional activities such as marketing, customer care, communication etc. in implementing the BI tools like customer service management. A review study by [12] from Croatia has emphasized that in order to survive in this critical banking environment, BI tools such as on-line analytical processing and data mining do a major role in making possible intelligent business decisions [13] . Also, [14] using 23 retail banks of UK, carried an empirical study and the findings provided a considerable view of current status of competitive intelligence in the retail banks, and it showed BI should be considered effective and efficient operators in the competitive intelligence practice. The most important part is real time analysing the customers’ data using the BI tools especially in the retail banking due to larger volume of transactions from the retail banking concept per day. [15] from Iran published a review paper and found that, using BI solution it is easy to solve the challenges of banking industry like severe competition between different banks, their provided demanded services, and the satisfaction of the customers. In an another empirical study done by [16] in the Nigerian context, revealed that if a bank wants to increase its efficiency and continue competitiveness, that bank need to introduce smart and practical branded services especially self-services as well as should introduce an e-banking system that add entertainment or extra easiness to customers such as usage of digital wallet, real-time interaction, ATMs integrated with smart phones, website customization, biometric services, and digital currency. That means current cloud based BI tools can be integrated with other operational activities of the banks and consider the combined data analysis outcomes to take the business decisions of the bank. [17] emphasized that many review papers of many countries revealed that BI perform a major role in decision making of every department and at every level as well as BI will assist bank to gain competitive advantage of their different products. It is proven that developing the integrated BI systems within the banks in order to take the business decisions considering the overall performance of the bank. However, there are few studies on Business Intelligence Adoption (BIA) in banks, almost all the studies highlighted that BIA increases the process and assists to win the operational efficiency and customer satisfaction as a whole those articles have found that BI assists in decision making, assists in improving data quality, operational efficiency, competitive advantage and customer satisfaction [15]. Another research emphasized that it is necessary to develop BI system that the management can investigate the future behaviour, customer behaviour as well as the quality and to increase the decision-making ability from the system [18]. BI supports firms to enhance the sales and profits, to identify buying patterns of the customers as well as improve their decision making and finally the business performance [17]. It is proven and recommended not to reply on the BI tools in the decisions making process of the banks and also should consider the experience of the human capital as well. [5] identified three main components to BI of an organization. They are, Impact of Business Intelligence on the Business Performance of Banking Sector in Sri Lanka 40 Global Journal of Management and Business Research Volume XXII Issue V Version I Year 2022 ( ) A © 2022 Global Journals