SlideShare a Scribd company logo
1 of 2
BI Breaks Free, Revolution Ahead – Part 1
Dears,

One kiss of death for many IT and corporate business houses are a lack of vision. The business does
not plan for the future, but focuses instead on speed to market and cut cost. That is not to say that
cost savings can't make or break a company but more important is to create a vision for the
company beyond the current situation and BI is one significant tool which provides insight about
both current clichés and guardian angel for the future .
Business intelligence (BI) systems are evolving so rapidly as to be almost unrecognizable. Just a few
years ago, BI meant clunky, backward-looking financial analysis systems and interfaces deemed
unfriendly by users at large. Improved computing power is increasing by orders of magnitude the
amount of data that can be crunched, while the advent of new types of media is changing the kinds
of data to be crunched. At the same time, the rise in mobile business computing has begun to alter
how BI applications are being delivered.

CIOs forging their BI strategies soon will have to grapple with business intelligence systems
that are little more than buzzwords today: social network analysis, organizational network
analysis, context-aware computing, even sentiment analysis. Sounds far out? The BI
Software Wing of a US Super Store is developing software that instantaneously analyzes
shoppers' facial expressions (confused, angry or bored, for example) caught on in-store
video cameras, and alerts salespeople in real time to take appropriate action. If industry
experts are correct, next-generation business intelligence systems -- or business intelligence
technology 3.0, as some call it -- will be a heady mix of internally generated business data
correlated in the blink of an eye with real-time intelligence culled from multiple sources, such as
social media, newsfeeds, video and sensor-enabled environments.
Not only will next-generation business intelligence systems solve the latency issues that dog
many classic BI operations, but business intelligence technology 3.0 will use predictive analytics
routinely, conjuring what-if scenarios to inform real-time decision making. Complex event
processing, the detection of patterns lurking in petabytes of data, will no longer be the sole
domain of the global investment banks or the military. Every time a customer asks about a
product, a company will use powerful analytics software to predict how that customer would be
served best at that moment, based on past preferences and the current context. In fact, Gartner
Inc. recently predicted (presumably by using predictive analytics) that by 2016, all enterprises
will be using next-generation analytics to forecast the future.
But these next-generation BI advances don't mean, run out and immediately update and add a
bunch of compute capacity. It means, be ready
Business intelligence systems for business value
CIOs also need to be ready for the explosion in mobile business intelligence applications.
Although Blackberries and other Smartphones have hosted mobile BI apps for years, their small
screen has been a roadblock to using them, he said. The iPad and other tablets overcome this
problem, and his research shows that CIOs should expect enormous growth in mobile BI.At the
moment, however, companies' main challenge in this revolution in business intelligence systems
is figuring out which kinds of BI tools will give them more business value, rather than just more
information, analysts and CIOs say.Companies will discover over the next few years where new
business intelligence systems, such as those for predictive analytics, can be applied to provide
value for their industries. "That is when you invest"
The 'uncharted territory' of business intelligence systems: Predictive analytics
The New York City Housing Authority is identifying already where predictive analytics can
improve the agency's mission of providing affordable housing to poor and moderate-income
families. A simple example: As part of a long-term initiative to figure out which conditions
actually improve residents' quality of life, A team is studying the impact of security cameras on
violent crime. The assumption is that cameras prevent crime. However, after running correlations
on a decade's worth of information from multiple sources including police reports, the team
found that cameras deter vandalism but have no effect on violent crime after they've been in
place for two months, unless they're coupled with other factors, including an effective intercom
system and random patrols by police officers. That information will help direct how the authority
invests in security. This is what Predictive Analytics to offers it gather all source of Information
and predicts the future behavior and actions.
Predictive BI analytics, like many an IT term, refers to an amorphous discipline that involves
using statistical and other complex mathematical analyses of data to predict the future. It is not
exactly data mining, the industry experts like to point out, and it's certainly not data mining for
data mining's sake. Predictive BI analytics identifies patterns in the volumes of data generated by
a business and by relevant external sources. Those patterns are used to predict the future so the
business can adjust its strategies accordingly.
Using analytics to shape business strategy is not easy to do, however, and not just because it can
be expensive or because it's a relatively new undertaking for many but the biggest corporations.
Putting predictive analytics to work in the corporation requires change management skills,
finding the right people and the right mind-set.
How do we implement Predictive Analytics that’s a Sequel, Watch this space for the concluding
part of the Article.
Loving P&C
DC*

More Related Content

What's hot

20130618 presentation big data in financial services English
20130618 presentation big data in financial services English20130618 presentation big data in financial services English
20130618 presentation big data in financial services English
Pascal Spelier
 

What's hot (20)

Digital Financial and Banking Services by Satya Sandha Dash
Digital Financial  and Banking Services by Satya Sandha DashDigital Financial  and Banking Services by Satya Sandha Dash
Digital Financial and Banking Services by Satya Sandha Dash
 
Artificial Intelligence in Banking
Artificial Intelligence in BankingArtificial Intelligence in Banking
Artificial Intelligence in Banking
 
IoT and the Payments Industry
IoT and the Payments IndustryIoT and the Payments Industry
IoT and the Payments Industry
 
The AI Revolution in Insurance: A Reality Check
The AI Revolution in Insurance: A Reality CheckThe AI Revolution in Insurance: A Reality Check
The AI Revolution in Insurance: A Reality Check
 
20130618 presentation big data in financial services English
20130618 presentation big data in financial services English20130618 presentation big data in financial services English
20130618 presentation big data in financial services English
 
The Internet of Things: A Prime Opportunity for Merchant Acquirers
The Internet of Things: A Prime Opportunity for Merchant AcquirersThe Internet of Things: A Prime Opportunity for Merchant Acquirers
The Internet of Things: A Prime Opportunity for Merchant Acquirers
 
20151009 presentation predictive banking
20151009 presentation predictive banking20151009 presentation predictive banking
20151009 presentation predictive banking
 
The Impact of AI Use Cases on the German Economy
The Impact of AI Use Cases on the German EconomyThe Impact of AI Use Cases on the German Economy
The Impact of AI Use Cases on the German Economy
 
Rtp webinar-verifone-final deck-fv
Rtp webinar-verifone-final deck-fvRtp webinar-verifone-final deck-fv
Rtp webinar-verifone-final deck-fv
 
How Smart Use of Emerging Technologies Drives Growth and Profits for Insurers
How Smart Use of Emerging Technologies Drives Growth and Profits for InsurersHow Smart Use of Emerging Technologies Drives Growth and Profits for Insurers
How Smart Use of Emerging Technologies Drives Growth and Profits for Insurers
 
Empowering the financial institutions with machine learning
Empowering the financial institutions with machine learningEmpowering the financial institutions with machine learning
Empowering the financial institutions with machine learning
 
Leveraging Big Data to Drive Bank Customer Engagement and Loyalty
Leveraging Big Data to Drive Bank Customer Engagement and LoyaltyLeveraging Big Data to Drive Bank Customer Engagement and Loyalty
Leveraging Big Data to Drive Bank Customer Engagement and Loyalty
 
HPE Building Intelligent & Autonomous Datacenters for the Data Economy
HPE Building Intelligent & Autonomous Datacenters for the Data EconomyHPE Building Intelligent & Autonomous Datacenters for the Data Economy
HPE Building Intelligent & Autonomous Datacenters for the Data Economy
 
AI Redefines Insurance
AI Redefines InsuranceAI Redefines Insurance
AI Redefines Insurance
 
The Insurance AI Imperative
The Insurance AI ImperativeThe Insurance AI Imperative
The Insurance AI Imperative
 
Data is the New Gold
Data is the New GoldData is the New Gold
Data is the New Gold
 
More Personalized Banking Through Big Data and Analytics
More Personalized Banking Through Big Data and AnalyticsMore Personalized Banking Through Big Data and Analytics
More Personalized Banking Through Big Data and Analytics
 
Gearing Up for the Internet of Payments
Gearing Up for the Internet of PaymentsGearing Up for the Internet of Payments
Gearing Up for the Internet of Payments
 
Digital Process Acupuncture: How Small Changes Can Heal Business, and Spark B...
Digital Process Acupuncture: How Small Changes Can Heal Business, and Spark B...Digital Process Acupuncture: How Small Changes Can Heal Business, and Spark B...
Digital Process Acupuncture: How Small Changes Can Heal Business, and Spark B...
 
How Semantic Analytics Delivers Faster, Easier Business Insights
How Semantic Analytics Delivers Faster, Easier Business InsightsHow Semantic Analytics Delivers Faster, Easier Business Insights
How Semantic Analytics Delivers Faster, Easier Business Insights
 

Viewers also liked

Everyday Customer Experience (CX) Champion by Dinesh Chandrasekar DC*
Everyday Customer Experience (CX) Champion by Dinesh Chandrasekar DC*Everyday Customer Experience (CX) Champion by Dinesh Chandrasekar DC*
Everyday Customer Experience (CX) Champion by Dinesh Chandrasekar DC*
Dr.Dinesh Chandrasekar PhD(hc)
 

Viewers also liked (9)

Book review the steve jobs way by dinesh chandrasekar
Book review  the steve jobs way by dinesh chandrasekarBook review  the steve jobs way by dinesh chandrasekar
Book review the steve jobs way by dinesh chandrasekar
 
Bi roi
Bi roiBi roi
Bi roi
 
Being second in race and first in quality
Being second in race and first in qualityBeing second in race and first in quality
Being second in race and first in quality
 
Brotherhood of master data
Brotherhood of master dataBrotherhood of master data
Brotherhood of master data
 
Everyday Customer Experience (CX) Champion by Dinesh Chandrasekar DC*
Everyday Customer Experience (CX) Champion by Dinesh Chandrasekar DC*Everyday Customer Experience (CX) Champion by Dinesh Chandrasekar DC*
Everyday Customer Experience (CX) Champion by Dinesh Chandrasekar DC*
 
Celebrate success at work
Celebrate success at workCelebrate success at work
Celebrate success at work
 
Book review steve jobs way
Book review  steve jobs wayBook review  steve jobs way
Book review steve jobs way
 
Building the responsive crm
Building the responsive crmBuilding the responsive crm
Building the responsive crm
 
Big Data Customer Experience Analytics -- The Next Big Opportunity for You
Big Data Customer Experience Analytics -- The Next Big Opportunity for You Big Data Customer Experience Analytics -- The Next Big Opportunity for You
Big Data Customer Experience Analytics -- The Next Big Opportunity for You
 

Similar to Bi breaks free

CS309A Final Paper_KM_DD
CS309A Final Paper_KM_DDCS309A Final Paper_KM_DD
CS309A Final Paper_KM_DD
David Darrough
 
Wizdee_Trends BI2017
Wizdee_Trends BI2017Wizdee_Trends BI2017
Wizdee_Trends BI2017
Tony Smith
 

Similar to Bi breaks free (20)

Upcoming Technology Trends
Upcoming Technology TrendsUpcoming Technology Trends
Upcoming Technology Trends
 
The future of business intelligence
The future of business intelligence The future of business intelligence
The future of business intelligence
 
Data set The Future of Big Data
Data set The Future of Big DataData set The Future of Big Data
Data set The Future of Big Data
 
10 data science & AI trends in india to watch out for in 2019
10 data science & AI trends in india to watch out for in 201910 data science & AI trends in india to watch out for in 2019
10 data science & AI trends in india to watch out for in 2019
 
Data Science & AI Trends 2019 By AIM & AnalytixLabs
Data Science & AI Trends 2019 By AIM & AnalytixLabsData Science & AI Trends 2019 By AIM & AnalytixLabs
Data Science & AI Trends 2019 By AIM & AnalytixLabs
 
Age Friendly Economy - The Future of Big Data
Age Friendly Economy  - The Future of Big DataAge Friendly Economy  - The Future of Big Data
Age Friendly Economy - The Future of Big Data
 
Ten 2015 Technology Predictions
Ten 2015 Technology PredictionsTen 2015 Technology Predictions
Ten 2015 Technology Predictions
 
Bank offered rate based on Artificial Intelligence
Bank offered rate based on Artificial IntelligenceBank offered rate based on Artificial Intelligence
Bank offered rate based on Artificial Intelligence
 
Business Intelligence
Business Intelligence Business Intelligence
Business Intelligence
 
Investing in AI: Moving Along the Digital Maturity Curve
Investing in AI: Moving Along the Digital Maturity CurveInvesting in AI: Moving Along the Digital Maturity Curve
Investing in AI: Moving Along the Digital Maturity Curve
 
CS309A Final Paper_KM_DD
CS309A Final Paper_KM_DDCS309A Final Paper_KM_DD
CS309A Final Paper_KM_DD
 
Wizdee_Trends BI2017
Wizdee_Trends BI2017Wizdee_Trends BI2017
Wizdee_Trends BI2017
 
Fundamentals-of-Big-Data-and-Business-Analysis-June-22-1.docx
Fundamentals-of-Big-Data-and-Business-Analysis-June-22-1.docxFundamentals-of-Big-Data-and-Business-Analysis-June-22-1.docx
Fundamentals-of-Big-Data-and-Business-Analysis-June-22-1.docx
 
Location Intelligence
Location IntelligenceLocation Intelligence
Location Intelligence
 
Real time analytics best practices
Real time analytics best practicesReal time analytics best practices
Real time analytics best practices
 
6 use cases of machine learning in Finance
6 use cases of machine learning in Finance 6 use cases of machine learning in Finance
6 use cases of machine learning in Finance
 
20 Useful Applications of AI Machine Learning in Your Business Processes
20 Useful Applications of AI  Machine Learning in Your Business Processes20 Useful Applications of AI  Machine Learning in Your Business Processes
20 Useful Applications of AI Machine Learning in Your Business Processes
 
Fueling the future of fintech with data science and ai
Fueling the future of fintech with data science and aiFueling the future of fintech with data science and ai
Fueling the future of fintech with data science and ai
 
The Future of Finance is Tech
The Future of Finance is TechThe Future of Finance is Tech
The Future of Finance is Tech
 
20 Useful Applications of AI Machine Learning in Your Business Processes
20 Useful Applications of AI  Machine Learning in Your Business Processes20 Useful Applications of AI  Machine Learning in Your Business Processes
20 Useful Applications of AI Machine Learning in Your Business Processes
 

More from Dr.Dinesh Chandrasekar PhD(hc)

More from Dr.Dinesh Chandrasekar PhD(hc) (20)

Dr Dinesh Chandrasekar LinkedIn Profile May 2020
Dr Dinesh Chandrasekar LinkedIn Profile May 2020Dr Dinesh Chandrasekar LinkedIn Profile May 2020
Dr Dinesh Chandrasekar LinkedIn Profile May 2020
 
CIO Review - Dinesh Chandrasekar Article on IoT
CIO Review - Dinesh Chandrasekar Article on IoTCIO Review - Dinesh Chandrasekar Article on IoT
CIO Review - Dinesh Chandrasekar Article on IoT
 
SQL Architect posting 8th April 2018 /parimala.rekha@pactera.com
SQL Architect posting 8th April 2018 /parimala.rekha@pactera.comSQL Architect posting 8th April 2018 /parimala.rekha@pactera.com
SQL Architect posting 8th April 2018 /parimala.rekha@pactera.com
 
Everyday Life Champion - A Book by Dinesh Chandrasekar
Everyday Life Champion - A Book by Dinesh ChandrasekarEveryday Life Champion - A Book by Dinesh Chandrasekar
Everyday Life Champion - A Book by Dinesh Chandrasekar
 
Emerging Leader 101 by Dinesh Chandrasekar
Emerging Leader 101 by Dinesh ChandrasekarEmerging Leader 101 by Dinesh Chandrasekar
Emerging Leader 101 by Dinesh Chandrasekar
 
Cart before the horse
Cart before the horseCart before the horse
Cart before the horse
 
Building a business case for crm upgrade
Building a business case for crm upgradeBuilding a business case for crm upgrade
Building a business case for crm upgrade
 
Brand relationship management
Brand relationship managementBrand relationship management
Brand relationship management
 
Befriend your crm workforce
Befriend your crm workforceBefriend your crm workforce
Befriend your crm workforce
 
CX
CX CX
CX
 
B2 b crm
B2 b crmB2 b crm
B2 b crm
 
Assembling customer information
Assembling customer informationAssembling customer information
Assembling customer information
 
Automotive dealership crm
Automotive dealership crmAutomotive dealership crm
Automotive dealership crm
 
Aspire to inspire
Aspire to inspireAspire to inspire
Aspire to inspire
 
Are you socially challenged
Are you socially challengedAre you socially challenged
Are you socially challenged
 
Are you mdm aware
Are you mdm awareAre you mdm aware
Are you mdm aware
 
Apples , oranges & crm software selection
Apples , oranges  & crm software selectionApples , oranges  & crm software selection
Apples , oranges & crm software selection
 
Achilles heel of crm
Achilles heel of crmAchilles heel of crm
Achilles heel of crm
 
2010 crm reflections
2010 crm reflections2010 crm reflections
2010 crm reflections
 
B2 b crm and supply chain connection
B2 b crm and supply chain connectionB2 b crm and supply chain connection
B2 b crm and supply chain connection
 

Bi breaks free

  • 1. BI Breaks Free, Revolution Ahead – Part 1 Dears, One kiss of death for many IT and corporate business houses are a lack of vision. The business does not plan for the future, but focuses instead on speed to market and cut cost. That is not to say that cost savings can't make or break a company but more important is to create a vision for the company beyond the current situation and BI is one significant tool which provides insight about both current clichés and guardian angel for the future . Business intelligence (BI) systems are evolving so rapidly as to be almost unrecognizable. Just a few years ago, BI meant clunky, backward-looking financial analysis systems and interfaces deemed unfriendly by users at large. Improved computing power is increasing by orders of magnitude the amount of data that can be crunched, while the advent of new types of media is changing the kinds of data to be crunched. At the same time, the rise in mobile business computing has begun to alter how BI applications are being delivered. CIOs forging their BI strategies soon will have to grapple with business intelligence systems that are little more than buzzwords today: social network analysis, organizational network analysis, context-aware computing, even sentiment analysis. Sounds far out? The BI Software Wing of a US Super Store is developing software that instantaneously analyzes shoppers' facial expressions (confused, angry or bored, for example) caught on in-store video cameras, and alerts salespeople in real time to take appropriate action. If industry experts are correct, next-generation business intelligence systems -- or business intelligence technology 3.0, as some call it -- will be a heady mix of internally generated business data correlated in the blink of an eye with real-time intelligence culled from multiple sources, such as social media, newsfeeds, video and sensor-enabled environments. Not only will next-generation business intelligence systems solve the latency issues that dog many classic BI operations, but business intelligence technology 3.0 will use predictive analytics routinely, conjuring what-if scenarios to inform real-time decision making. Complex event processing, the detection of patterns lurking in petabytes of data, will no longer be the sole domain of the global investment banks or the military. Every time a customer asks about a product, a company will use powerful analytics software to predict how that customer would be served best at that moment, based on past preferences and the current context. In fact, Gartner Inc. recently predicted (presumably by using predictive analytics) that by 2016, all enterprises will be using next-generation analytics to forecast the future. But these next-generation BI advances don't mean, run out and immediately update and add a bunch of compute capacity. It means, be ready Business intelligence systems for business value CIOs also need to be ready for the explosion in mobile business intelligence applications. Although Blackberries and other Smartphones have hosted mobile BI apps for years, their small screen has been a roadblock to using them, he said. The iPad and other tablets overcome this problem, and his research shows that CIOs should expect enormous growth in mobile BI.At the moment, however, companies' main challenge in this revolution in business intelligence systems
  • 2. is figuring out which kinds of BI tools will give them more business value, rather than just more information, analysts and CIOs say.Companies will discover over the next few years where new business intelligence systems, such as those for predictive analytics, can be applied to provide value for their industries. "That is when you invest" The 'uncharted territory' of business intelligence systems: Predictive analytics The New York City Housing Authority is identifying already where predictive analytics can improve the agency's mission of providing affordable housing to poor and moderate-income families. A simple example: As part of a long-term initiative to figure out which conditions actually improve residents' quality of life, A team is studying the impact of security cameras on violent crime. The assumption is that cameras prevent crime. However, after running correlations on a decade's worth of information from multiple sources including police reports, the team found that cameras deter vandalism but have no effect on violent crime after they've been in place for two months, unless they're coupled with other factors, including an effective intercom system and random patrols by police officers. That information will help direct how the authority invests in security. This is what Predictive Analytics to offers it gather all source of Information and predicts the future behavior and actions. Predictive BI analytics, like many an IT term, refers to an amorphous discipline that involves using statistical and other complex mathematical analyses of data to predict the future. It is not exactly data mining, the industry experts like to point out, and it's certainly not data mining for data mining's sake. Predictive BI analytics identifies patterns in the volumes of data generated by a business and by relevant external sources. Those patterns are used to predict the future so the business can adjust its strategies accordingly. Using analytics to shape business strategy is not easy to do, however, and not just because it can be expensive or because it's a relatively new undertaking for many but the biggest corporations. Putting predictive analytics to work in the corporation requires change management skills, finding the right people and the right mind-set. How do we implement Predictive Analytics that’s a Sequel, Watch this space for the concluding part of the Article. Loving P&C DC*