Strengthening Decision-Making of Financial Institutions through Business Intelligence
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Clinton Emmanuella*
This study aims to determine the effect of Data Accuracy (DA) on Decision-Making Efficiency (DME), and examine the influence of Data Quality (DQ) on Decision-Making Efficiency (DME) in selected financial institutions in Delta State, Nigeria. The research adopts a quantitative approach, with a sample size of 222 respondents drawn from employees of various financial institutions in the region.The study employs structured questionnaires to gather data, utilizing statistical methods such as correlation and regression analysis to assess the relationships between data accuracy, data quality, and decision-making efficiency. The findings reveal that both Data Accuracy (DA) and Data Quality (DQ) have a significant positive impact on Decision-Making Efficiency (DME) in financial institutions. Specifically, higher levels of data accuracy contribute to more precise and timely decisions, while better data quality ensures more reliable and informed decision-making processes. Based on these findings, the study recommends that financial institutions invest in improving the accuracy and quality of their data systems, including regular data validation and cleaning procedures, to enhance decision-making processes. Training staff in data management and BI tools is also suggested to ensure effective use of data for decision-making. It highlights the importance of robust data systems in improving organizational performance and decision-making efficiency in financial institutions. The research concludes that the integration of high-quality data and accurate information systems is vital for enhancing the overall efficiency of decision-making processes within the financial sector in Nigeria.
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