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Evaluating Signal Services For Profitable Decision-making
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Received: 20 January 2023 / Modified: 16 February 2023 / Received: 20 February 2023 / Published: 23 February 2023
The purpose of the study was to examine the influence of business intelligence on bank operational efficiency and perceptions of profitability. The study was based on 259 responses from 27 branches of a commercial bank using a simple random sampling technique. This study uses the least squared structural equation method (PLS-SEM) to test the hypothesis. The study verifies the reliability of the construction and the validation of the construction of the measurement model and tests the strength of the structural model. The study found that business intelligence is positively associated with operational efficiency and profitability. In addition, the study shows that operational efficiency through business intelligence has a positive effect on the bank’s profitability. Based on the theory of competition, this research confirms that business intelligence allows productive entities to generate higher profits compared to their market competitors. Thus, banks can offer better options, cheaper prices than their competitors, and thus guarantee a competitive advantage. In addition, based on the theory of resource-based aspects, the study argues that business intelligence as a strategic resource can provide a foundation for developing banking capabilities that can lead to better performance over time. Therefore, this study implies business intelligence programs in banking companies and helps to make effective decisions for banking institutions, academics and policy makers.
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The banking and financial industries are undergoing transformation as a result of technological advances [1, 2, 3]. Financial institutions now face increasing competition, growing consumer demand, and the need for stricter management and risk management in a dynamic market. At the same time, technology has allowed the development of modern business intelligence devices [4]. There are technologies that the banking and financial industry can use to extract consumer data to gain insights that can lead to smarter management practices and more business decisions [5, 6, 7]. To that end, there are many ways in which banking and financial institutions are using Business Intelligence (BI) technology to increase profits, reduce risks and gain competitiveness. Business intelligence enables banks to react to changing economic conditions during both normal and turbulent times [8].
Worldwide Business Intelligence (BI) methods and technologies help banks gain a better understanding of their operations, their customers and their future. In addition, BI can pave the way for efficiency by highlighting ripe areas for cost-cutting initiatives, new business opportunities, and more. Business Intelligence Banking enables users to integrate multiple and similar systems to display dynamic visual dashboards that will not be able to communicate across platforms in the absence of Business Intelligence [ 9, 10]. Setting the standard that banking information is a big task requires several workers to spend several weeks a week. Months to complete. That is the current state of affairs for most banks trying to implement business intelligence in banking. Consider installing an application layer on top of all the unmatched banking services that connect them all and enable “live” reporting of all data at once. While this may sound like the simplest possible solution, much work needs to be done to standardize the database before they can be used effectively [6, 11].
Banks can not afford to just add workers to increase income [1, 12, 13, 14]. They must find ways to increase the efficiency of their current employees. Banks can use business intelligence tools to monitor transaction transactions to help reduce ongoing costs and / or increase available resources and skills. The Bank can identify ways to improve and enhance the customer experience at the point of communication by evaluating the performance of the branch staff involved with the customer base. The bank uses business intelligence technology to track customers, branches, products and profits of the branch [4, 15, 16]. The Bank is maximizing profits and tracking improvements through effective pricing strategies and efficient business operations. In addition, business intelligence technology is used for predictive analysis to determine which customers may be interested in receiving which goods, when and how (directly, online or in person) [5]. Banks can use this additional data to develop new and improved products and services that better meet customer needs and increase their market competitiveness. Equipped with profit and demographic data on its client families, the bank will have a better idea of what the future holds and will be able to advertise to them more effectively. Reseller and reseller efforts can be more successful if the bank knows which customers to target [3, 17]. In addition, business intelligence systems can be used to analyze developments outside the bank to develop alternative investment plans. Investors can gain special insights into sentiment and brand building by analyzing data from social media [18]. Through the use of analytics and business intelligence technology, a whole new type of investment is developing. Financial institutions must be as lean and efficient as possible in today’s highly competitive industry. By analyzing the operational process with business intelligence tools, banks can reduce ongoing costs and maximize available resources and knowledge [19]. Organizations can identify ways to improve and enhance the customer experience at the point of communication by evaluating the performance of employees facing the client, such as sales representatives, tellers and account managers.
A limited number of Business Intelligence (BI) studies are found in Bangladesh [12, 20, 21, 22, 23, 24]. Tumpa, Saifuzzaman [20] studied BI covering the field of mental health care in Bangladesh. Arefin, Hoque [21] studied organizational culture and BI; Al-Hasan, Aktar [22] presented BI models for the textile industry; Babu [12] said the challenges of artificial intelligence in Bangladesh; Nahar, Naheen [23] studied artificial intelligence and fire observation; And Biswas, Rahman [24] said the role of emotional intelligence. However, there are gaps in linking business intelligence with operational efficiency and perceptions of banking profitability in Bangladesh.
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Moreover, only a few studies on business intelligence have been found internationally [17, 18, 25, 26, 27, 28, 29, 30]. Lim, Chen [18] studied business intelligence analysis and operations, but did not link profits. Ranjan [25] shows the relationship between BI and strategic decision making. Elbashir, Collier [17] discovered the relationship between BI and banking operations. Sahay and Ranjan [26] studied BI and supply chain analysis; Nofal and Yusof [27] BI research and enterprise resource planning; Işık, Jones [28] found the link between BI and environmental decision-making and operational efficiency. Olszak [29] studied BI software by collecting quality data. Yiu, Yeung [31] connects BI and profit; And Lawrence [30] found the link between BI and operational efficacy in the hospital. Thus, there is a gap in the BI association with banking efficiency and profitability in the international trade intelligence literature.
The study found a lack of business intelligence studies in both domestic (Bangladesh) and international banking companies. In addition, Tumpa, Saifuzzaman [20], Al-Hasan, Aktar [22], Biswas, Rahman [24], Lim, Chen [18], Elbashir, Collier [17], Olszak [29] and Lawrence [30] Suggested further study because BI has an impact on business. In Bangladesh, banking companies will implement BI to achieve a strong business framework. Therefore, the study developed a research model (see Figure 1) that combines business intelligence with bank efficiency and profitability. More specifically, the study seeks answers to the following questions: “What is the impact of business intelligence on bank operational efficiency?” And “What is the Impact of Business Intelligence on Bank Profits?” Therefore, this study aims to examine the impact of business intelligence on the operational efficiency and profitability of banks. Figure 1 shows a conceptual model of the study.
The study used 259 responses from general managers, senior officials, general officers and employees of 27 branches of commercial banks in Bangladesh using simple random sampling techniques. This research uses
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