Business Intelligence (BI) Task
A Business Intelligence (BI) Task is an observational analysis task that support a business analysis task.
- Context:
- It can (typically) be supported by a Business Intelligence System.
- It can (typically) include a Organizational Reporting Task (business reporting).
- It can (typically) include Online Analytical Processing.
- It can range from being a Batch BI Task to being a Real-Time BI Task.
- It can support Business Performance Management.
- …
- Example(s):
- Counter-Example(s):
- See: Prescriptive Analytics, Process Mining, Complex Event Processing, Benchmarking, Data Warehouse Task, Customer Relationship Management.
References
2015
- (Wikipedia, 2015) ⇒ http://en.wikipedia.org/wiki/business_intelligence Retrieved:2015-7-9.
- Business intelligence (BI) is the set of techniques and tools for the transformation of raw data into meaningful and useful information for business analysis purposes. BI technologies are capable of handling large amounts of unstructured data to help identify, develop and otherwise create new strategic business opportunities. The goal of BI is to allow for the easy interpretation of these large volumes of data. Identifying new opportunities and implementing an effective strategy based on insights can provide businesses with a competitive market advantage and long-term stability. [1] 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, process mining, complex event processing, business performance management, benchmarking, text mining, predictive analytics and prescriptive analytics. BI can be used to support a wide range of business decisions ranging from operational to strategic. Basic operating decisions include product positioning or pricing. Strategic business decisions include priorities, goals and directions at the broadest level. In all cases, BI is most effective when it combines data derived from the market in which a company operates (external data) with data from company sources internal to the business such as financial and operations data (internal data). When combined, external and internal data can provide a more complete picture which, in effect, creates an "intelligence" that cannot be derived by any singular set of data.
- ↑ ()
- (Wikipedia, 2015) ⇒ http://en.wikipedia.org/wiki/operational_intelligence#Business_intelligence Retrieved:2015-7-27.
- OI is often linked to or compared with business intelligence (BI) or real time business intelligence, in the sense that both help make sense out of large amounts of information. But there are some basic differences: OI is primarily activity-centric, whereas BI is primarily data-centric. As with most technologies, each of these could be sub-optimally coerced to perform the other's task. OI is, by definition, real-time, unlike BI or “On-Demand” BI, which are traditionally after-the-fact and report-based approaches to identifying patterns. Real-time BI (i.e., On-Demand BI) relies on the database as the sole source of events.
OI provides continuous, real-time analytics on data at rest and data in-flight, whereas BI typically looks only at historical data at rest. OI and BI can be complementary. OI is best used for short-term planning, such as deciding on the “next best action,” while BI is best used for longer-term planning (over the next days to weeks). BI requires a more reactive approach, often reacting to events that have already taken place.
If all that is needed is a glimpse at historical performance over a very specific period of time, existing BI solutions should meet the requirement. However, historical data needs to be analyzed with events that are happening now, or to reduce the time between when intelligence is received and when action is taken, then Operational Intelligence is the more appropriate approach.
- OI is often linked to or compared with business intelligence (BI) or real time business intelligence, in the sense that both help make sense out of large amounts of information. But there are some basic differences: OI is primarily activity-centric, whereas BI is primarily data-centric. As with most technologies, each of these could be sub-optimally coerced to perform the other's task. OI is, by definition, real-time, unlike BI or “On-Demand” BI, which are traditionally after-the-fact and report-based approaches to identifying patterns. Real-time BI (i.e., On-Demand BI) relies on the database as the sole source of events.
2014
- http://solve100.com/business-intelligence/
- QUOTE: Business Intelligence is more than reporting. It’s analyzing and summarizing, spotting trends, identifying exceptions and outliers, and delivering analytics solutions. Our BI process unlocks the story within your data and uses that story to help your business perform better, adapt faster, and save money.