Monday, April 1, 2013

Ten BI Insight in One Sentence

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  1. BI is the domain focused on improving the visibility of the business, uncovering insights from the corporation's data 
  1. Business Intelligence is the art and science of figuring out where you were before, where you are now and where you want to go, based on data. 
  1. Business intelligence is getting the right information to the right people at the right time so that the decision makers may take action to improve the organization's performance. 
  1. Business Intelligence is "Organization's motivation and ability to effectively create and use information to execute business activities that deliver sustainable and higher profitability (not profit) compared to competition" 
  1. BI is about applying "intelligence" to the business - either strategic control or tactical operations, and mostly involving its processes. What is more interesting is what it is not - reports on how the business has been performing may be useful for managers involved in intelligent control, but do not manifestly provide intelligence in their own right. 
  1. Each single activity in the company pertains to one of two huge areas: operations and control. Operations is “what is done, control is “knowing how and why is done. Business Intelligence is the sum of all the things (applications, data, and activities) required to support control. 
  1. Business Intelligence is a process that provides the necessary tools (reports, dashboards etc.) to the business manager to understand the business operations from a historical, current and future perspective, in a succinct and visually understandable format, with options to explore and analyze the information and underlying data, as needed 
  1. Business Intelligence is the process of transforming data into information and through discovery transforming that information into knowledge/ insight/foresight.
Ideally: BI Provides better enterprise visualizations to make better decisions.

A reality: BI Provides weapons for political battles by allowing users to arbitrarily slice and dice facts.

  1. BI is turning data into information which facilitates decision-making and action-taking. The BI illusion is that past data predict the future, but that is not the case because correlation is hardly ever causation. BI does NEVER produce ACTIONABLE knowledge. There is no such concept in statistics!
    10  Business Intelligence is a system (Tools, Processes, Methodologies etc.) that helps various   
         stakeholders in an organization to 'connect the dots' with the goal to optimize business decisions in their  
         own sphere of work.


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