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Predictive Analytics; the Future of Business Intelligence PDF Print E-mail
Written by Administrator   
Saturday, 24 October 2009 15:30

Introduction 

The market is witnessing an unprecedented shift in business intelligence (BI), largely because of technological innovation and increasing business needs. The latest shift in the BI market is the move from traditional analytics to predictive analytics. Although predictive analytics belongs to the BI family, it is emerging as a distinct new software sector.

Analytical tools enable greater transparency, and can find and analyze past and present trends, as well as the hidden nature of data. However, past and present insight and trend information are not enough to be competitive in business. Business organizations need to know more about the future, and in particular, about future trends, patterns, and customer behavior in order to understand the market better. To meet this demand, many BI vendors developed predictive analytics to forecast future trends in customer behavior, buying patterns, and who is coming into and leaving the market and why.

Last Updated on Saturday, 24 October 2009 15:34
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Microsoft’s SharePoint Thrives in the Recession PDF Print E-mail
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Monday, 05 October 2009 04:16

Think of SharePoint as the jack-of-all-trades in the business software realm. Companies use it to create Web sites and then manage content for those sites. It can help workers collaborate on projects and documents. And it has a variety of corporate search and business intelligence tools too.

Microsoft wraps all of this software up into a package and sells the bundle at a reasonable price. In fact, the total cost of the bundle often comes in below what specialist companies would charge for a single application in, say, the business intelligence or corporate search fields.

Last Updated on Tuesday, 17 November 2009 23:25
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Business Intelligence Defined PDF Print E-mail
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Monday, 21 September 2009 18:53

business intelligenceBusiness Intelligence (BI) is a catch phrase that was coined in the mid-1990s to describe taking data from its raw form and turning it into something usable that business decisions can be based on. It is an umbrella term that ties together other closely related data disciplines including data mining, statistical analysis, forecasting, and decision support. Developers should take an interest in BI as BI features are being built into new versions of developer tools and databases. For example both Microsoft (with MS Visual Studio 2005 and SQL Server 2005) and Oracle (with Oracle Database 10g and Oracle Developer Suite) tout BI as important components. And as BI begins to pop up as a job title, part of a job description, or in project specifications, you'll need to know just exactly what it refers to.

A BI platform is going to tie in to your corporate database platform. For the front end, there will be a user reporting and querying interface, typically a browser-based model that users will already understand the basic UI for. There are scores of BI products sold as add-ons for all of the major database platforms. One drawback is that these can be expensive to purchase, implement, and support. As mentioned above, there are also new BI features making their way into core development tools and RDBMS products. In the Microsoft example, with the VS 2005 and SQL Server 2005 products, a developer should be able to create a home-grown BI system using the VS 2005 environment which provides built-in hooks to the SQL Server 2005 Reporting Services BI components. The drawback of that model is that the developer needs to learn a new version of the tool and to work with new components, costly in terms of developer time and training.

Last Updated on Tuesday, 17 November 2009 23:23
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The 2009 Value Index for Business Intelligence PDF Print E-mail
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Monday, 05 October 2009 04:12

Ventana Research today introduces its 2009 Value Index for Business Intelligence, the second of a new category of quantified, research-based Indexes. This new Value Index provides research-based metrics that will enable organizations to ascertain the value to them of existing and future business intelligence technologies, systems and tools for business and IT in a simple and easy-to-use manner. Using the Value Index, businesses will be able to meet the challenge of evaluating vendors and their products and making choices based on an understanding of how well the offerings meet their needs.

Last Updated on Tuesday, 17 November 2009 23:23
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What is Business Intelligence? PDF Print E-mail
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Monday, 21 September 2009 18:41

Business Intelligence is a process for increasing the competitive advantage of a business by intelligent use of available data in decision making.

The five key stages of Business Intelligence:

  1. Data Sourcing
  2. Data Analysis
  3. Situation Awareness
  4. Risk Assessment
  5. Decision Support

Data sourcing

Business Intelligence is about extracting information from multiple sources of data. The data might be: text documents - e.g. memos or reports or email messages; photographs and images; sounds; formatted tables; web pages and URL lists. The key to data sourcing is to obtain the information in electronic form. Typical sources of data might include:  scanners; digital cameras; database queries; web searches; computer file access; etc.

Last Updated on Tuesday, 17 November 2009 23:22
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