Wednesday, April 29, 2009

Business Intelligence...

Business Intelligence is an area of specialisation which has seen growth in the past several years and continues to grow. So what is Business Intelligence, Simply put it basically is aimed at providing information for what a Business whats to know and when the business wants to know it. Business Intelligence also encompasses the field of Data Mining which is aimed at unearthing hidden patterns in the data which has gathered by a particular entity. This provides the business with the capability of predicitng certain trends in the particular business domain. For example Data Mining techniques are/can be used for Direct Marketing Campaigns,Fraud Detection Techniques to name a few. There are lot of tools and techniques which facilitate Business Intelligence and Data Mining, for examples Vendors like Microsoft,Oracle,IBM provide Business Intelligence Tools. There are techniques like Neural Networks,Decision Trees,Machine Learning which are part of the Data Mining Domain.
There is an other important aspect of Business Intelligence which are Reports,DashBoards,Scorecards. These provide a Business a visual outlook of Key Performance Indicators,Trends and Projections which in turn a gives a good birds eye view of overall Busniess Performance. To summarise, Business Intelligence when utilised in a proper manner will provide very good benefits and can be a Value Add for a Business/Organisation.

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