Future of business Intelligence
Introduction
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 integrated operational as well as decision-support applications and databases that provide the business community easy access to business data.
BI Is 1st coined by IBM researcher Hans Peter Luhn in 1958. He Defined intelligence as the Ability to apprehend the interrelationship of presented facts in such a way to guide action towards desired goal.
Involves PEOPLE and Technology.
Involves using a rational approach to management.
Involves a continuous cycle of measurement, adjustment & re-measurement.
Stages of BI:
Data Sourcing
Data Analysis
Situation Awareness
Risk Analysis
Decision Support
Objective and Scope.
Having access to timely and accurate information for a company, which can expedite decision-making and improve customers' experience and provide a competitive edge to Customer.
Provide a near real time analysis relating to their business, particularly in front line operation. No need for the business user to wait for information and information needs to be always on and never out of date.
Future Business Intelligence Trends 1. Cloud BI
Business Intelligence on the cloud promises near 100% uptime and scalability without all the time and money required to maintain in-house hardware. Security is still a big concern for many companies, who don’t trust cloud providers with their private data. A rise in private cloud BI deployments will be seen.
2. Collaborative BI
Due to the rise of social media, the internet is the perfect collaboration platform. This concept translates seamlessly to Business Intelligence.
3. Mobile BI
In the future, Business Intelligence will not be limited by device or location. It will be cross-platform, offering instant access from all smartphones and tablets.
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 integrated operational as well as decision-support applications and databases that provide the business community easy access to business data.
BI Is 1st coined by IBM researcher Hans Peter Luhn in 1958. He Defined intelligence as the Ability to apprehend the interrelationship of presented facts in such a way to guide action towards desired goal.
Involves PEOPLE and Technology.
Involves using a rational approach to management.
Involves a continuous cycle of measurement, adjustment & re-measurement.
Stages of BI:
Data Sourcing
Data Analysis
Situation Awareness
Risk Analysis
Decision Support
Objective and Scope.
Having access to timely and accurate information for a company, which can expedite decision-making and improve customers' experience and provide a competitive edge to Customer.
Provide a near real time analysis relating to their business, particularly in front line operation. No need for the business user to wait for information and information needs to be always on and never out of date.
Future Business Intelligence Trends 1. Cloud BI
Business Intelligence on the cloud promises near 100% uptime and scalability without all the time and money required to maintain in-house hardware. Security is still a big concern for many companies, who don’t trust cloud providers with their private data. A rise in private cloud BI deployments will be seen.
2. Collaborative BI
Due to the rise of social media, the internet is the perfect collaboration platform. This concept translates seamlessly to Business Intelligence.
3. Mobile BI
In the future, Business Intelligence will not be limited by device or location. It will be cross-platform, offering instant access from all smartphones and tablets.