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Received: 20 January 2023 / Revised: 16 February 2023 / Accepted: 20 February 2023 / Published: 23 February 2023
The objective of the study is to examine the effects of business intelligence on the perception of bank’s operational efficiency and profitability. The study is based on 259 responses received from 27 branches of commercial banks, using simple random sampling technique. This research uses the Partial Least Squares-Structural Equation Method (PLS-SEM) method to test the hypotheses. The study verifies the construct reliability and construct validity of the measurement model, and tests the fitness of the structural model. Studies have found that business intelligence is positively related to operational efficiency and profitability. Furthermore, the study found that operational efficiency through business intelligence has a positive impact on bank profitability. Based on competitive theory, this research suggests that business intelligence allows a manufacturing organization to generate higher margins than its market rivals. Thus, banks can offer better options at cheaper rates than their competitors and thus ensure a competitive advantage. Furthermore, based on the resource-based view theory, the study argues that business intelligence can provide a foundation for developing bank capabilities as a strategic resource that can lead to superior performance over time. Therefore, the study indicates the application of business intelligence in banking companies and helps in decision-making effectiveness for management bodies of banks, academicians 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 are now faced with increasing competition, evolving customer needs, and the need for tighter controls and risk management in a very dynamic market. Simultaneously, technology has enabled the development of sophisticated business intelligence tools [4]. There are techniques that the banking and financial industry can use to exploit consumer data to gain insights that result in more intelligent management practices and business decisions [5, 6, 7]. To that end, there are many ways that banking and financial institutions are using business intelligence (BI) technologies to increase profitability, mitigate risk, and gain a competitive edge. Business intelligence enables banks to respond to changing economic conditions in both normal and turbulent economic times [8].
Globally, business intelligence (BI) methods and techniques help banks better understand their operations, their customers and their prospects. Additionally, BI can pave the way for efficiency by highlighting areas ripe for cost reduction initiatives, new business opportunities, and more. Banking business intelligence helps users integrate numerous and disparate system sets to present dynamic data visualization dashboards that would not be able to communicate across platforms lacking banking business intelligence [9, 10]. Standardizing banking information is a huge undertaking that requires many workers to spend several weeks each month. This is the current state of play for most banks looking to apply business intelligence to banking. Consider installing a software layer on top of all those disparate banking services data stores that connects them all and enables “live” reporting of all the data at the same time. Although this may seem like the simplest approach possible, much work needs to be done to standardize the underlying data before it can be used effectively [6, 11].
Banks cannot simply add workers to increase revenue [1, 12, 13, 14]. They should always look for ways to improve the efficiency of their current employees. Banks can use business intelligence tools to examine operational functions to help minimize ongoing costs and/or maximize available resources and expertise. Banks can identify ways to improve and enhance the customer experience at the point of contact by evaluating the performance of branch staff who engage with the customer base. Banks use business intelligence techniques to monitor customer, product, and branch profitability [4, 15, 16]. Banks are tracking profitability growth and improvement through effective pricing strategies and efficient business operations. Additionally, business intelligence techniques are used for predictive analytics to determine what products customers may be interested in receiving, when, and how (in person, on the Web, or direct mail) [5]. Banks can use this additional data to develop new and improved products and services to better meet customer needs and increase market competitiveness. Armed with profitability and demographic data on its customer households, banks will have a better idea of what good prospects look like and will be able to market to them more effectively. Cross-selling and up-selling efforts can be more successful if banks know which customers to target [3, 17]. Additionally, business intelligence systems can be used to analyze developments outside the bank in order to develop alternative investment plans. Investors can gain specific insights into sentiment and construct trading signals by analyzing data from social media [18]. Through the use of analytics and business intelligence technologies, entirely new categories of investment are developing. In today’s hyper-competitive industry, financial institutions must be as lean and efficient as possible. By analyzing operational processes with business intelligence tools, banks can reduce running costs and maximize available resources and knowledge [19]. Organizations can identify ways to improve and enhance the customer experience at the point of contact by evaluating the performance of customer-facing employees such as sales representatives, tellers, and account managers.
A limited amount of business intelligence (BI) studies have been found in Bangladesh [12, 20, 21, 22, 23, 24]. Tumpa, Saifuzzaman [20] conducted a BI study covering the mental health care sector in Bangladesh; Arefin, Hoque [21] Studies on Organizational Culture and BI; Al-Hassan, Aktar [22] presented a BI model for textile industries; Babu [12] stated the challenges of artificial intelligence in Bangladesh; Nahar, Nahin [23] studied artificial intelligence and fire survey; and trust, Rahman [24] explained the role of emotional intelligence. However, there is a gap in relation of business intelligence with perception of operational efficiency and profitability of banks in Bangladesh.
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Furthermore, only a few studies on business intelligence were found internationally [17, 18, 25, 26, 27, 28, 29, 30]. Lim, Chen [18] studied business intelligence analysis and operations but did not link profitability; Ranjan [25] showed the relationship between BI and strategic decision making; Elbashir, Collier [17] found a relationship between BI and bank performance; Sahay and Ranjan [26] studied BI and supply chain analytics; Nofal and Yusof [27] BI and enterprise resource planning research; Işık, Jones [28] found links of BI with environmental decision making and operational efficiency; Olszak [29] studied the application of BI by collecting qualitative data; Yiu, Yeung [31] Link BI and profitability; and Lawrence [30] found BI to be associated with operational efficiency in hospitals. Therefore, there is a gap in the business intelligence literature on the relationship of BI with bank operational efficiency and profitability at the international level.
This study found a lack of business intelligence studies in banking companies both nationally (Bangladesh) and internationally. Furthermore, Tumpa, Saifuzzaman [20], Al-Hassan, Aktar [22], Biswas, Rahman [24], Lim, Chen [18], Elbashir, Collier [17], Olszak [29], and Lawrence [30] suggest gave Further study as BI impacts businesses. In Bangladesh, banking companies are going to implement BI to get a strong business frame. Thus, the study developed a research model (see Figure 1) that links business intelligence with banks’ operational efficiency and profitability. More specifically, the study seeks to answer the following questions: “What is the impact of business intelligence on the operational efficiency of banks?” and “What is the effect of business intelligence on banks’ profitability?” Therefore, the study aims to examine the effects of business intelligence on operational efficiency and profitability of banks. Figure 1 shows the conceptual model of the study.
This study utilizes 259 responses from general managers, senior officers, general officers and employees of 27 branches of commercial banks in Bangladesh using simple random sampling technique. It uses research
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