Business Intelligence (BI) is about connecting data to effective action by drawing reliable conclusions about current conditions and future events (Phyllis Chong, 2009).
Information is important for the management so that they are able to make the right decision with the right information. Hence, coming out with a better decision making to support the business operations.
Quoted from David Stodder, 2009:
"While it has always been tough to measure the exact impact of BI and data warehousing on overall business performance, it is certain that in many organizations, implementation of BI and data warehouse tools and technologies has forever changed how users access, analyze, report and share data."
The trend of BI is getting obvious. It has become increasingly important as BI translates data into information for organisations (Diann Daniel, 2007).
According to Diann Daniel (2007), he stated 5 trends of BI.
Trend 1 - There's so much data, but too little insight.
Data is there, but it's trapped in different silos and its accuracy cannot be trusted. For example, Finance department and Marketing department could define gross margin differently.
Trend 2 - Market Consolidation Means Fewer Choices for Business Intelligence Users.
Many BI companies are being bought by bigger organisation such as Oracle and SAP. The merging of the companies' technologies may not fit into client's current architecture, competing technical stacks may be an issue. Hence, market consolidation makes it easier to get BI, but users may be left with fewer choices.
Trend 3 - Business Intelligence Expands from the Board Room to the Front Lines.
BI will be available for employees in all levels, even in the front lines - Operation BI. It will integrate data and process dashboards, and event-driven systems that initiate a business process based on certain data conditions (Boris Evelson). For example, alerting a call center worker to offer a particular promotion or to potential credit card fraud.
Trend 4 - The Convergence of Structured and Unstructured Data Will Create Better Business Intelligence.
E-mail, memos, voicemail messages and other sources of unstructured data are rich sources of information, and companies and developers are responding by looking for ways to blend structured and unstructured data for better decision making. For example, retailers could add comments and complaints from e-mail and call centers into a BI application to enhance their market segmentation analysis, says Evelson.
Trend 5 - Applications Will Provide New Views of Business Intelligence Data.
BI applications is moving beyond the pie charts and bar charts into more visual depictions of data and trends. Alternative ways of displaying complex data—to increase interaction and usefulness—is an area that will continue growing in the coming years, say Evelson and Hagerty.
More detailed information can be found in this article.
In conclusion, BI has become a core decision for organisation whether or not to implement it. It make use of the data and translates them into useful information that will helps business to predict future outcomes and make the correct decision. The decision made will add values to the business.
Information is important for the management so that they are able to make the right decision with the right information. Hence, coming out with a better decision making to support the business operations.
Quoted from David Stodder, 2009:
"While it has always been tough to measure the exact impact of BI and data warehousing on overall business performance, it is certain that in many organizations, implementation of BI and data warehouse tools and technologies has forever changed how users access, analyze, report and share data."
The trend of BI is getting obvious. It has become increasingly important as BI translates data into information for organisations (Diann Daniel, 2007).
According to Diann Daniel (2007), he stated 5 trends of BI.
Trend 1 - There's so much data, but too little insight.
Data is there, but it's trapped in different silos and its accuracy cannot be trusted. For example, Finance department and Marketing department could define gross margin differently.
Trend 2 - Market Consolidation Means Fewer Choices for Business Intelligence Users.
Many BI companies are being bought by bigger organisation such as Oracle and SAP. The merging of the companies' technologies may not fit into client's current architecture, competing technical stacks may be an issue. Hence, market consolidation makes it easier to get BI, but users may be left with fewer choices.
Trend 3 - Business Intelligence Expands from the Board Room to the Front Lines.
BI will be available for employees in all levels, even in the front lines - Operation BI. It will integrate data and process dashboards, and event-driven systems that initiate a business process based on certain data conditions (Boris Evelson). For example, alerting a call center worker to offer a particular promotion or to potential credit card fraud.
Trend 4 - The Convergence of Structured and Unstructured Data Will Create Better Business Intelligence.
E-mail, memos, voicemail messages and other sources of unstructured data are rich sources of information, and companies and developers are responding by looking for ways to blend structured and unstructured data for better decision making. For example, retailers could add comments and complaints from e-mail and call centers into a BI application to enhance their market segmentation analysis, says Evelson.
Trend 5 - Applications Will Provide New Views of Business Intelligence Data.
BI applications is moving beyond the pie charts and bar charts into more visual depictions of data and trends. Alternative ways of displaying complex data—to increase interaction and usefulness—is an area that will continue growing in the coming years, say Evelson and Hagerty.
More detailed information can be found in this article.
In conclusion, BI has become a core decision for organisation whether or not to implement it. It make use of the data and translates them into useful information that will helps business to predict future outcomes and make the correct decision. The decision made will add values to the business.
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