Precisely What Are Business Intelligence Systems?
Go to: Previous Article Article
While the concept of business intelligence (BI) was defined as early as the late 50's, it was not until the 90's that the concept obtained wider acceptance and use.
The first concept of business intelligence revolved around recording the interrelationships of info in such way as to provide guidance in deciding on a sought after goal. Whilst this definition is broadly speaking still appropriate at this time, it took all of forty plus years to bring execution thereto. The reason for this is that the tools to bring forth this business philosophy didn't exist until much later. It was the strategies of Decision Support Systems (DDS) namely the creation of pc aided models in decision making and preparation, from the mid sixties to the eighties that led to later development of computer aided techniques flowing over in business intelligence as you may know it today. On-line analytical processing (OLAP), data warehouses and executive info system tactics led in the 90's by aiding in business decision making by the use of fact based support solutions, like CRM - customer relationship management, and other programs such as the analysis of business data. Business Intelligence (BI) is therefore fundamentally computer based studies of historical, current and predictive data, striving at making better business choices.
The term 'intelligence' naturally also suggests that at least a degree of competitive data could be involved. It would seem unlikely that an effective BI would not take into account competitive data in the world of internationally competitive solutions where huge profits are concerned, like maybe the auto and aircraft sectors. The industry of business intelligence is a sophisticated environment and the accomplishment of such an exercise clearly is determined by sound quality data and high level drive in an operation. It further pre-supposes extensive organisational IT capabilities with high quality data. This certainly is not a game for the faint hearted and requires total professionalism and dedication from a highly certified team at the level of big corporations and multi-national establishments.
Reports from international consulting companies indicate that totally integrated business Intelligence systems (BI) are still no everyday occurrence, though there are such systems operational and vendors say they have dependable products. The reasons for this could probably be found in the price of such programs (hardware, software and staff costs), data reliability issues, technical and product issues and top management commitment. None the less, sub systems in this regard have been flourishing over the past 10 years or so. One such product is CRM (Customer Relationship Management). This is a well utilized and supported concept offering organisational business intelligence of the Sales/Marketing environment of an organisation. CRM makes it possible for the integration of all of the role players in servicing the client and could typically include: Top Management, Sales, Marketing, Support and Accounts, all of which departments are involved in the wellness of a customer from an organisational perspective. This works especially well in the case of long sales cycles resulting in the gain (or loss) of substantial revenue. Often such revenue is not only once off (the product) but also on-going (support services) rendering such orders of long term strategic value.
Article Source: Articlelogy.com
- Credit Cards A big selection of Cards in all flavors: Bad Credit Cards, Secured Cards, Prepaid Cards, Credit Cards for Canada, Low Interest Cards, etc -
Word Count: 532
Reduce Your Debts Without Bankruptcy. See How Much You Can Save. Free Debt Analysis
