Business intelligence as a force of better business copetitivenes in Bosnia and Herzegovina

Part of experts considers that the competitiveness of the market is the competition and the main regulator of the market, while part of them believes that it is a measure of wealth of society in a roundabout way, but all agree that it contributes to innovation, efficient business and overall economic growth. This paper studies the factors affecting the competitiveness and how to use new technologies and business intelligence to make these factors predictable, efficient, effective and controllable. Enhancing productivity and overall competitiveness must be the basic idea in the business of any business system. Competitiveness of a country is affected by many direct and indirect factors, but most important of all is the competitiveness of business systems because they are the bearers of economic development. Therefore, in this paper the business systems and business intelligence are put to the forefront, with respect to many indicators that characterize the macro economy. The paper also considers how information and knowledge help business systems to develop a good business decisions which are the main prerequisite for the survival on generally turbulent market. It is especially emphasized that the conceptual task of business intelligence is to gather information quality and knowledge and their use by employees, thus business system has a chance to react to market changes and make good business decisions, only by obtaining adequate information and knowledge. Adequate knowledge can help to determine in which direction to move, where to go under certain circumstances, which changes to implement and when, as well as how to operate successfully and to remain competitive.