Business Intelligence (BI). Business Intelligence…examples.
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BI refers to
application and technology,
which is used
to gather, provide access to, and analyze
data and information
about the company operations
BI is neither a product
nor a system.
It is an architecture and
a collection of
as well as decision-support
applications and databases
that provide the business community
easy access to business data.
a Research Fellow
at Gartner Group
as an umbrella term
to describe a set of concepts
and methods to improve
by using fact-based
changing trends in market share
changes in customer behavior and spending patterns
Having access to timely and accurate information is an important resource for a company,
which can expedite decision-making
and improve customers' experience.
In the competitive customer-service sector,
companies need to have accurate, up-to-date information
on customer preferences,
so that the company can quickly adapt to their changing demands.
BI enables companies to gather information
on the trends in the marketplace and
come up with innovative products or services
in anticipation of customer's changing demands.
BI applications can also help managers
to be better informed about actions that a company's competitors are taking.
BI systems can also be designed to provide managers with information on the state of economic trends or marketplace factors, or to provide managers with in depth knowledge about the internal operations of a business.
BI can be used to help analysts and managers
determine which adjustments are most likely
to respond to changing trends.
BI systems can help companies develop a more consistent, data-based decision making process for business decisions, which can produce better results than making business decisions by "guesswork."
BI can help companies share selected strategic information
with business partners.
Some businesses use BI systems
to share information with their suppliers like…..
other supply chain data
BI applications can enhance communication among departments, coordinate activities, and enable companies to respond more quickly to changes (e.g., in financial conditions, customer preferences, supply chain operations, etc.).
When a BI system is well-designed and properly integrated into a company's processes and decision-making process, it may be able to improve a company's performance.
need to have a secure computer system
which can specify different levels of user access to the data 'warehouse',
need to have sufficient data capacity,
a plan for how long data will be stored
BI analysts have developed software tools
to gather and analyze
large quantities of unstructured data such as
customer attrition figures.
AQL – Associatede Query Logic
Business Activity MonitoringBusiness Performance Management
Business Process Re-engineering
User/End-User Query and Reporting
Enterprise Management System
Executive Information System
SCM – Supply Chain Management
Demand Chain Management
Finance and Budgeting tools.
Data Mining, Framing & Warehousing
(DSS) and Forecasting
Document Warehouse & Manage,ment
Information Visualisation and Dashboarding;
Management Information System (MIS);
Geographic Information System (GIS);
Software As A Service (SaaS)
Business Intelligence offerings (On Demand)
Online Analytical Processing (OLAP) and
sometimes called "Analytics"
(based on the "hypercube" or "cube");
Real Time Business Intelligence
Statastics and Technical Data Analysis
Web Mining, Text Mining and
Customer Relationship Management (CRM)
Human Resources applications.
cross-organizational business initiatives and not understanding that cross-organizational initiatives are different from stand-alone solutions
Factors need to be considered
Goal Alignment queries
Cost and risk queries
Customer and Stakeholder queries
Measurement Methodology-related queries
BI users are beginning to demand
[Real time BI] or near real time
analysis relating to their business,
particularly in front line operations.
They will come to expect up to date and fresh information in the same fashion as they monitor stock quotes online.
Monthly and even weekly analysis
will not suffice
don't want to wait for information.
Information needs to be always on
and never out of date.
This is the way we live our lives today.
Why should Business Intelligence be any different?"
CEO of SeeWhy, a Software company, Windsor UK
In the not too distant future companies will become dependent on real time business information in much the same fashion as people come to expect to get information on the internet in just one or two clicks. "This instant "Internet experience" will create the new framework for business intelligence, but business processes will have to change to accommodate and exploit the real-time flows of business data."
Nigel Stokes, CEO, DataMirror Corp.
“BI 2.0" is the recently-coined term which is part of the continually developing BI industry and heralds the next step for BI.
“BI 2.0" is used to describe
the acquisition, provision
and analysis of
"real time" data.
"The mismatch between fantasy and reality is driven by two factors.
The first is that business rules and structures (general ledgers, product classification, asset hierarchies, etc.) are not in fact uniform, but are spread out among many disparate transaction system implementations...
The second problem is that the landscape of business structures is itself in constant flux, as groups reorganize, subsidiaries are sold or new companies acquired".
…Veteran Analyst… Andy Hayler…
As long as Business Intelligence relies upon some kind of data warehouse structure (including web-based virtual data "warehouses"), data will have to be converted into "a lowest common denominator consistent set."
When it comes to dealing with multiple, disparate data sources and the constantly changing, often volatile, business environment which requires tweaking and restructuring of IT systems, getting BI data in a genuinely true, "real time" format remains,
"a pipe dream.....Hayler