American Journal of Information Systems
ISSN (Print): 2374-1953 ISSN (Online): 2374-1988 Website: Editor-in-chief: Sergii Kavun
Open Access
Journal Browser
American Journal of Information Systems. 2014, 2(2), 26-32
DOI: 10.12691/ajis-2-2-1
Open AccessArticle

Business Intelligence as a Knowledge Management Tool in Providing Financial Consultancy Services

Gul Muhammad1, Jamaludin Ibrahim1, Zeeshan Bhatti1, and Ahmad Waqas1

1Kulliyyah of Information and Communication Technology, International Islamic University Malaysia

Pub. Date: March 07, 2014

Cite this paper:
Gul Muhammad, Jamaludin Ibrahim, Zeeshan Bhatti and Ahmad Waqas. Business Intelligence as a Knowledge Management Tool in Providing Financial Consultancy Services. American Journal of Information Systems. 2014; 2(2):26-32. doi: 10.12691/ajis-2-2-1


The main objective of this paper is to elaborate how Business Intelligence (BI) as a knowledge management tool could help consultants in providing professional services to the financial sector. The Business Intelligence (BI) solution could be a competitive advantage for the consultants if they are able to exploit the Business Intelligence (BI) tools and technology such as Data Warehouse, Data Mining, On-Line Analytical Processing (OLAP) and Extraction Transformation Load (ETL). The consultants can use Business Intelligence (BI) solution to analyze the organizational data such as structures and business processes of the Financial Institution. By analyzing the organizational data, the financial institution can imp better rove and streamline functional efficiencies to not only bolster up sales and marketing strategies and better develop customer services program, but also mitigate risk by developing more appropriate risk management actions. In brief, by having this competitive advantage, the consultant will be able to withstand in the market, which is always changing.

Business Intelligence (BI) Knowledge Management (KM) Data Mining Data Warehouse Extraction Transformation Load (ETL) On-Line Analytical Processing (OLAP)

Creative CommonsThis work is licensed under a Creative Commons Attribution 4.0 International License. To view a copy of this license, visit


Figure of 8


[1]  Albescu, F., Pugna, I., & Paraschiv, D. (2008). Business Intelligence & Knowledge Management – Technological Support for Strategic Management in the Knowledge Based Economy. Revista Informatica Economică,, 6-12.
[2]  Arora, E. (2011). Knowledge Management In Public Sector. Journal of Arts Science and Commerce.
[3]  BMO Bank of Montreal Slices Costs, Time With Web-Based Reporting. (n.d.). Retrieved April 15, 2013, from
[4]  Business Intelligence Helps SMBC Adapt to Dynamic Market. (n.d.). Retrieved April 15, 2013, from
[5]  Business Intelligence Solution for Financial Services- (2011). Retrieved April 13, 2013, from
[6]  Cheng, L., & Cheng, P. (2011). Integration: Knowledge Mangement and Business Intelligence. Fourth International Conference on Business Intelligence and FInancial Engineering.
[7]  Gartner. (2011). A step-by-step approach to successful Business Intelligence. Featuring research from Gartner.
[8]  Gartner. (2008). Gartner EXP Worldwide Survey of 1,500 CIOs Shows 85 Percent of CIOs Expect "Significant Change" Over Next Three Years. Retrieved from Gartner:
[9]  Information Builders. (n.d.). WebFocus Business Intelligence. Retrieved from Information Builders:
[10]  Joo, J., & Lee, S. M. (2006). Technical Limitation Factors of Knowledge Management Systems and a New Approach. Management Review: An International Journal, 4-16.
[11]  Kascelan, L. (2011). Advantages And Limitations In Implementation of Business Intelligence System In Montenegro: Case Study Telenor Montenegro. Journal of Economic and Business, 19-30.
[12]  Khan, R. A., & Quadri, S. K. (2012). Dovetailing of Business Intelligence and Knowledge Management: An Integrative Framework. Information and Knowledge Management.
[13]  KBase. (n.d.). ETL Services. Retrieved from KBase:
[14]  McCarthy, S. (1999). Business Intelligence versus Knowledge Management. Retrieved from Inside Knowledge:
[15]  MicroStrategy Incorporated. (2011). Business Intelligence Solution for Financial Services.
[16]  Nadeem, M., & Jaffri, S. A. (n.d.). Application of Business Intelligence in Banks (Pakistan).
[17]  Olszak, C. M., & Ziemba, E. (2007). Approach to Building and Implementing Business Intelligence Systems. Interdisciplinary Journal of Information, Knwoledge and Management.
[18]  Pant, P. (2009). Business Intelligence (BI): How to build successful BI strategy. Business Intelligence (BI): How to build successful BI strategy.
[19]  Skriletz, R. (2003). Business Intelligence in the Financial Services Industry. Retrieved from Information Management:
[20]  Radonic, G. (2007). A Review of Business Intelligence Approaches to Key Business Factors in Banking. Journal of Knowledge Management.
[21]  Rao, G. K., & Kumar, R. (2011). Framework to Integrate Business Intelligence and Knowledge Management in Bankin Industry. Review of Business and Technology Research.
[22]  Ranjan, J. (2009). Business Intelligence: Concepts, Components,Techniques and Benefits. Journal of Theoretical and Applied Information Technology, 60-70. RBC Royal Bank Capitalizes on WebFOCUS for Operational Reporting. (n.d.). Retrieved April 15, 2013, from
[23]  Reinschmidt, J., & Francoise, A. (2000). Business Intelligence Certification Guide. IBM.
[24]  Wehinger, G. (2013). Banking in a challenging environment: Business models, ethics and approaches towards risks. OECD Journal: Financial Market Trends.