08-10-2010, 09:21 AM
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INTRODUCTION:-
Business Intelligence (BI) refers to computer-based techniques used in spotting, digging-out, analyzing and presenting the right business data to right people at right time for making business decisions. In single line, BI makes possible to convert ‘Data’ into ‘Information’.
BI technologies provide historical, current, and predictive views of business operations. Common functions of Business Intelligence technologies are reporting, online analytical processing, analytics, data mining, business performance management, benchmarking, text mining, and predictive analytics.
Business Intelligence often aims to support better business decision-making. Thus a BI system can be called a decision support system (DSS). Though the term business intelligence is often used as a synonym for competitive intelligence, because they both support decision making, BI uses technologies, processes, and applications to analyze mostly internal, structured data and business processes while competitive intelligence, is done by gathering, analyzing and disseminating information with or without support from technology and applications, and focuses on all-source information and data (unstructured or structured), mostly external to, but also internal to a company, to support decision making.
Business intelligence tends to be an esoteric function because it is an entangled process that calls for employees with specialized knowledge and skill both in business and technology, a combination in short supply in most organizations. Analysts must understand what viewers are interested in and how business is run, but they must also have the technical skills to formulate complex queries, design intuitive reports, optimize retrieval, and so on. Such a small group of BI specialists can evolve into isolated elitism, a bottleneck in maximizing the functionalities of BI.
HISTORY:-
In a 1958 article, IBM researcher Hans Peter Luhn used the term business intelligence. He defined intelligence as: "the ability to apprehend the interrelationships of presented facts in such a way as to guide action towards a desired goal."
In 1989 Howard Dresner (later a Gartner Group analyst) proposed BI as an umbrella term to describe "concepts and methods to improve business decision making by using fact-based support systems." It was not until the late 1990s that this usage was widespread.
Business intelligence and data warehousing:-
Often BI applications use data gathered from a data warehouse or a data mart. However, not all data warehouses are used for business intelligence, nor do all business intelligence applications require a data warehouse.
Business intelligence and business analytics:-
Thomas Davenport has argued that business intelligence should be divided into querying, reporting, OLAP, an "alerts" tool, and business analytics.
Getting Business Intelligence projects prioritized:-
It is often difficult to provide a positive business case for Business Intelligence (BI) initiatives and often the projects will need to be prioritized through strategic initiatives. Here are some hints to increase the benefits for a BI project.
• As described by Kimball you must determine the tangible benefits such as eliminated cost of producing legacy reports.
• Enforce access to data for the entire organization. In this way even a small benefit, such as a few minutes saved, will make a difference when it is multiplied by the number of employees in the entire organization.
BUSINESS INTELLIGENCE
INTRODUCTION:-
Business Intelligence (BI) refers to computer-based techniques used in spotting, digging-out, analyzing and presenting the right business data to right people at right time for making business decisions. In single line, BI makes possible to convert ‘Data’ into ‘Information’.
BI technologies provide historical, current, and predictive views of business operations. Common functions of Business Intelligence technologies are reporting, online analytical processing, analytics, data mining, business performance management, benchmarking, text mining, and predictive analytics.
Business Intelligence often aims to support better business decision-making. Thus a BI system can be called a decision support system (DSS). Though the term business intelligence is often used as a synonym for competitive intelligence, because they both support decision making, BI uses technologies, processes, and applications to analyze mostly internal, structured data and business processes while competitive intelligence, is done by gathering, analyzing and disseminating information with or without support from technology and applications, and focuses on all-source information and data (unstructured or structured), mostly external to, but also internal to a company, to support decision making.
Business intelligence tends to be an esoteric function because it is an entangled process that calls for employees with specialized knowledge and skill both in business and technology, a combination in short supply in most organizations. Analysts must understand what viewers are interested in and how business is run, but they must also have the technical skills to formulate complex queries, design intuitive reports, optimize retrieval, and so on. Such a small group of BI specialists can evolve into isolated elitism, a bottleneck in maximizing the functionalities of BI.
HISTORY:-
In a 1958 article, IBM researcher Hans Peter Luhn used the term business intelligence. He defined intelligence as: "the ability to apprehend the interrelationships of presented facts in such a way as to guide action towards a desired goal."
In 1989 Howard Dresner (later a Gartner Group analyst) proposed BI as an umbrella term to describe "concepts and methods to improve business decision making by using fact-based support systems." It was not until the late 1990s that this usage was widespread.
Business intelligence and data warehousing:-
Often BI applications use data gathered from a data warehouse or a data mart. However, not all data warehouses are used for business intelligence, nor do all business intelligence applications require a data warehouse.
Business intelligence and business analytics:-
Thomas Davenport has argued that business intelligence should be divided into querying, reporting, OLAP, an "alerts" tool, and business analytics.
Getting Business Intelligence projects prioritized:-
It is often difficult to provide a positive business case for Business Intelligence (BI) initiatives and often the projects will need to be prioritized through strategic initiatives. Here are some hints to increase the benefits for a BI project.
• As described by Kimball you must determine the tangible benefits such as eliminated cost of producing legacy reports.
• Enforce access to data for the entire organization. In this way even a small benefit, such as a few minutes saved, will make a difference when it is multiplied by the number of employees in the entire organization.