Business Intelligence Essay

1375 words - 6 pages

Business Intelligence-The Next Ruler of IT Monalisa Mishra

“In GOD we trust for everything else we need data” -W. Edwards Deming

In the present era the old saying has become the buzz of corporate circle and going forward this will be the base principle of decision makers across the world. Welcome to the era of objective thinking powered by technology that has given a new dimension to business and management. With the passage of time more and more companies are coming forward to adopt, improvise and leverage on technology and Business Intelligence has proved to be the flag bearer in this upcoming trend. Business Intelligence, in layman terms, is data converted to information and ...view middle of the document...

So, actually the marketing data is providing the real-time updated demand to production system that is again stimulating the minimum number of vehicles to be produced keeping in account the “OK” rate of the production line. This is just a small yet the core aspect of the vast range of business intelligence. It completely out rules the subjective intuition process of production numbers. The end user has the information at real time basis and just need to follow it. The future business intelligence is going to foresee the future through the eyes of past and support of present. This calls for the confluence various statistical algorithms and techniques, data mining and operational trends. In technical terms, the future business intelligence is more than just historical data analysis; it’s the predictive analysis that will rule the roost from here-on.

Business Intelligence-The Next Ruler of IT Monalisa Mishra

Example of Production Analytics:
Manufacturing Analytics : Production view

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But, given the predictive analysis the historical form of analytics can’t be ignored as well. The future BI historical analytics tools will no more be standalone units instead they would be the base of predictive analytics through information that has been created through correlation across data segments. For instance historical analysis will no more be limited to vehicle that fails to start and shows an historical data of failure in testing ,but instead the analytic will generate a probability factor based on a such a sample of vehicle failure and the correlation with the contributing testing parameter value specifications thus, building the base for a predictive analytics. And at the same time the real time presence has become inevitable for all smart technologies. From a manger to CEO everyone requires real time information at various levels. A CEO needs to understand the contribution of various business units towards the net profit. A business unit head needs to understand why a particular product is not selling in a particular region .A regional manager needs to understand which particular city and which product in specific has added the maximum to the maintenance cost. The lowest level of manger just needs to know what the total sales of his product were. And for this different type of information the company is going to install a single system- to optimize on cost. This is one of the major challenges of business intelligence. The demand is a system, a single one that is highly integrated across locations, other technical systems, across hierarchy, departments, and sectors. But the challenge doesn’t end there- a single system that is generic and at the same time highly configurable and flexible that can be customized as per the unique demands. The user of a certain business analytic tool is able to define which parameters he needs and what amount of data and what level of analysis. In such

Business Intelligence-The Next Ruler of IT Monalisa...

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