Challenges in Implementation and Cost Benefit Analysis of AI and BI Proposals

Authors

  • Ajay Vasant Mahajan DGM – Tata Motors Ltd., Pune
  • Shailaja Deobagkar Associate Professor, Savitribai Phule Pune University, Pune

DOI:

https://doi.org/10.33516/maj.v54i12.83-86p

Keywords:

No Keywords.

Abstract

Industry 4.0 revolution is aimed towards bringing in higher transparency, flexibility and adaptability of business systems. The need is felt by all businesses for evaluation of AI and BI proposals which are suitable for current and future business needs. However there are practical difficulties in terms of proper identification of business need, integration with existing system, reliable vendor’s selection etc. Moreover, capex evaluation via traditional Management account tools is a challenge as monetary value cannot be assigned to intangible benefits and costs. Management needs to select appropriate BI tool supported by AI, keeping in mind possible increase in data volumes, market trends and end customer behavioural pattern in near future.

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Published

2019-12-31

How to Cite

Mahajan, A. V., & Deobagkar, S. (2019). Challenges in Implementation and Cost Benefit Analysis of AI and BI Proposals. The Management Accountant Journal, 54(12), 83–86. https://doi.org/10.33516/maj.v54i12.83-86p

Issue

Section

Cost Benefit Analysis

References

Stephan Weyer, Mathias Schmitt, Moritz Ohmer, Dominic Gorecky (2015), IFAC Research paper; Towards Industry 4.0-Standardization as the crucial challenge for highly modular, multi-vendor production systems

Julian Ereth and Wayne Eckerson (2018); Eckerson Research paper; AI: The New BI How Algorithms Are Transforming Business Intelligence and Analytics.

Deloitte Research Paper; (Jan2019) How leaders are navigating the Fourth Industrial Revolution.

Analytics India Magazine, (Oct 2016); Why newage Business Intelligence systems are better than traditional MIS.

Links

https://flylib.com/books/en/4.49.1.28/1/

https://www.toptal.com/insights/innovation/ai-vs-bi-differences-and-synergies

https://www.gooddata.com/blog/artificial-intelligence-future-business-intelligence

https://blog.adext.com/artificial-intelligence-new-business-intelligence/

https://www.denave.com/bi-cost-analysis-for-your-business-why-does-it-matter-so-much/

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