Can you believe? 80% of Business is
conducted on unstructured information.
Business intelligence is a solution for intelligent
decision making through the effective understanding of business and its
environment. Business Intelligence is a technological enhancement assisting in
effective decision making transforming the raw business data to the meaningful
information. Forester BI Research defines BI as “Business
intelligence (BI) is a set of methodologies, processes, architectures,
and technologies that transform raw data into meaningful and useful
information. It allows business users to make informed business decisions with
real-time data that can put a company ahead of its competitors. Traditionally,
core features like reporting and analytics have been the focus of BI technology
choices, but as those features get commoditized, a whole new set of
possibilities has emerged.”
Business intelligence is the delivery of
information extracted from the raw data of business delivered to the right
people at the right time.
BI
= Right Information + Right People + Right Time
BI uses both structured and unstructured data,
structured data are easy to analyze and search but the unstructured data
contains a large quantity of the information needed for analysis and decision
making. The data volume is increasing rapidly day by day and the importance of
business intelligence tool on the same track. In 2011 at Gartner BI Summit,
Gartner had predicted the following five points
1.
By 2013, 33 percent of BI functionality will be consumed via handheld
devices.
2.
By 2014, 30 percent of analytic applications will use in-memory
functions to add scale and computational speed. By 2014, 30 percent of analytic
applications will use proactive, predictive and forecasting capabilities.
3.
By 2014, 40 percent of spending on business analytics will go to system
integrators, not software vendors.
4.
By 2013, 15 percent of BI deployments will combine BI, collaboration
and social software into decision-making environments.
There are many BI Tools currently available in
market like Microstrategy, Pentaho, Oracle Business Intelligence Enterprise
Edition (OBIEE), Informatica, COGNOS,
Hyperion etc.
·
Companies are drowning in terabytes of data. In order to
exploit the growing ocean of data, businesses will focus their
business-intelligence spending in the next three years on technologies that
address the inefficiencies of the underlying data storage, rather than the
already powerful analytic applications. -- Foster Hinshaw, chief technology officer, Netezza
Corp., Framingham, Mass.
·
In about five years, we'll see a dramatic 40% increase in
the number of end users who use business-intelligence tools. The monolithic
data warehouse strategies will be replaced with technologies that build virtual
data access points based on the end user's query needs. These points will
dynamically collect data from a variety of sources including data mart, data
warehouse, production systems and external sources and present a single
personal data view. -- Frank Gelbart, CEO, Appfluent Technology Inc., Arlington, Va
Researched by
Rajan Adhikari
MCTS
SQL Server 2008,
Business Intelligence
8th
Semseter
thank you
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