The key to business success for many companies is the correct use of data to make better, faster and flawless decisions. Companies need to use robust and efficient tools such as business intelligence (BI) as positive catalysts to achieve this goal, which can assist them in mechanizing the tasks of analysis, decision making, strategy formulation and forecasting. In other words, the purpose of using BI in these institutions is to collect, process, and analyze large volumes of data and convert them into effective business value in decision making through the creation of analytical intelligent reporting platforms. Therefore, this study aims to answer the question whether operationalization of BI, Organizational Learning (OL) and Innovation and utilization of their applications can provide financial performance enhancement for these companies. As mentioned above, the statistical population of this research is innovation companies Located in Science Park with 400 staff and according to Morgan table, 196 employees of these companies were picked as statistical case. Info accumulation tool is the questionnaire whose validity and reliability have been measured. Research findings demonstrate that BI and innovation have a critical influence on the companies conduct. But there was no meaningful relationship between OL and financial performance of these companies.
The management mission and the main goal of forming any company is to make a profit and increase the wealth of shareholders (Katila, Chen & Piezunka, 2012; Lasi, 2013; Raghuvanshi, Agrawal & Ghosh, 2017). In line with this mission, it is important to pay attention to the factors that can influence the financial performance of the company because companies have limited resources and information (Villar, Alegre & Pla-Barber, 2014).
More important than that is the success or failure and what guarantees the survival of an organization is how it works (Wanda & Stian, 2015). For this reason, there is a longstanding link between management and performance issues (DE, 2011; Moss & Atre, 2003; Strohmeier, 2021).
Among companies, innovative/startups companies, which are generally based on one idea, are weaker companies that may not survive and fail in changing political, economic, and social conditions (Man, Lau & Chan, 2002; Prugsamatz, 2010). This failure has an adverse effect on the economic sector of the society, entrepreneurship and reducing the unemployment rate (Chen & Lin, 2021; Hawking & Sellitto, 2010; Sjarif, Azmi, Yuhaniz & Wong, 2021).
The present study investigating the influence of business intelligence, organizational learning, and innovation on financial efficacy of innovative companies. The study is a descriptive survey in terms of method, survey in terms of purpose, applied to aim, and finally, research in terms of data collection is field research. Objectives of this paper are to answer the question whether operationalization of BI, Organizational Learning and Innovation and utilization of their applications can provide financial performance enhancement for these organizations. Also, in this research, a questionnaire that is made according to previous research and the opinion of elites has been used to collect information. The questionnaire used in this research consists of two parts. The first part includes the characteristics of people (age, gender, education, and level of work experience). The next section of the questionnaire includes questions related to financial performance, business intelligence, organizational learning, and innovation, which has 47 questions in a five-point Likert scale and was distributed among 250 staffs working in start-up companies located in the science park, finally, the sample of 196 people was achieved. In this study, descriptive and inferential methods have been used to analyze the data. Based on the analysis, out of 6 hypotheses, 5 hypotheses were confirmed and 1 hypothesis was rejected in the study population. Results are:
• Business intelligence has a positive and critical influence on organizational learning. Particularly, improving business intelligence can improve organizational learning.
• Organizational learning has a positive and critical influence on innovation. Particularly, organizational learning can increase innovation.
• Business intelligence has a positive and critical influence on innovation. Particularly, business intelligence can increase innovation.
• Following the existence of a relationship between organizational learning on the financial performance of innovative companies, the results showed a lack of relationship between these two variables in the statistical population of the study and this hypothesis was rejected. One of the reasons is the discrepancy between organizational maturity formed in start-up companies versus large companies.
• Business intelligence has a positive and critical influence on financial efficacy. Particularly, BI can improve financial performance. This path coefficient is significant at the error level of 0.05.
• Innovation has a positive and critical influence on financial efficacy. Particularly, innovation can improve financial performance.