Capabilities of business intelligence for improving the efficiency of economic analysis in stressful economic conditions caused by pandemic

Abstract

From the perspective of economic analysis, the phenomenon of business intelligence (BI), which is the main subject of this research, is described as a version of artificial intelligence oriented towards comprehensive analysis of high data volume and its transformation into applied knowledge on the economic activity of organizations. Emphasis is placed on the feasibility and peculiarity of implementation of business intelligence systems in stressful economic conditions caused by pandemic on the global and national scale. The empirical part of research lies in the development and testing of the intelligent solution in the area of information and analytical support for economic analysis. The acquired conclusions prove that the current situation on the global economic market promotes further development of methodology for implementing information technologies, and business intelligence in particular, in the economic analysis of business activity. In order to meet the specific needs of end-users of business intelligence systems, was developed the tool for calculating the economic efficiency of medical insurance for health improvement of the personnel. It is substantiate that innovative BI- technologies help to integrate and successfully apply the solutions of business analysis at any level of corporate management. The authors outline the leading parameters of the ideal version of business intelligence, as well as justify that the use of business intelligence systems in the area of information support for economic analysis gives a multiplicative effect: - contributes to the improvement of economic analysis, efficiency of implementation and accuracy of data; - ensures the effectiveness of economic analysis for achieving  best result with relatively low cost and maximum utilization time; - provides acceptable relevance of the data that underlie the management decisions, leaving out subjectivism.