There are always different complexities at a different time or dimension, business intelligence is an effective tool to improve business-value creation.
With “VUCA” digital new normal, often the answer to many business questions is not just “right,” or “wrong,” but there are many shades in between. Business intelligence is about managing information to gain insight into the organization in making effective decisions and achieve information value scientifically.
To build a high-intelligent business, develop a sensing system that is ambiently and constantly attempting to augment their understanding of what they see and hear and you have a human/machine construct that begins to direct its own evolution. Intelligence amplification is a digital phenomenon with the following perspectives.
Convergent intelligence: A holistic view of enterprise data has become a core asset for every forward-thinking organization across vertical sectors. The convergence of machine learning, artificial intelligence, analytics, and business intelligence, statistics & decision science make a direct impact on building a smart business. Convergent intelligence intends to solve numerous information-related puzzles such as -Where is the insight we have lost in knowledge? Where is the knowledge we have lost in information? Where is the information we have lost in data? How can we maximize information value? Which problems can we solve by taking advantage of abundant information? etc. Convergent Intelligence helps to understand the business information and process landscape, consolidate data, and generate insight across the enterprise cohesively.
Digital professionals today who need a dramatic change to the status quo in enterprise computing, are seeking to exploit the value found in convergence technologies. Business Intelligence in the dynamic digital environment can provide users with on-demand, self-service analytics capability that helps them make data-based, on-time decisions, and make context-based suggestions and recommendations continually. Intelligence convergence accelerates information flow, the business applies efficient BI tools to do scenario planning, data discovery, predictive analytics, data integration, connectivity, collaboration, visualization, user interfaces, and interactive capabilities, and streamline user-friendly business processes with the convergence of structural and nonstructural processes to improve business maturity.
Collective intelligence: It is our connectedness to others and the world around us that makes whatever intelligence we have truly useful to ourselves and to others; 'seeing' the context we are 'part' of, allows us to identify the leverage points of the system and then 'choose' the 'decisive' factors to make sound judgments. Collective intelligence is a digital phenomenon. Brainstorming fresh ideas and collective insight becomes the new attitude and reality, New generation of digital business empowered by digital technologies such as collaboration tools and analytics will extend an organization's physical boundary, enhance employees’ participation and engage customers to stimulate the creative side of the business to find better solutions to either old issues or the emerging problems and use collective intelligence to overcome business challenges.
Collective intelligence is the ultimate smartness of business. Like so many techniques, brainstorming can deliver great results if it is applied in the right context, and taking into consideration its limitations. The real value in these types of ‘group-based activities’, when done properly, is that it enables you to bring a diverse population together and a collective pool of all the expertise at the discussion table and leverage collective insight to make better decisions. Different cognitive styles react differently within idea-generating activities and observing how people interact with one another can provide managers with valuable management insight. The digital businesses with collective intelligence are not just the sum of functional pieces anymore, they do have the capability to take advantage of collective wisdom, and run a smart and cohesive business.
Multi-faceted business intelligence: Business Intelligence refers to computer-based techniques used in spotting, digging-out, and analyzing business data, to achieve business value. It is multidimensional and has been defined in several ways. It’s a cognitive process involving rational and abstract thinking. It’s also goal-directed and purposeful, which means that all intelligent activities are planned to reach a self-determined goal. Either at an individual or corporate level, there are all sorts of intelligence such as strategic intelligence, creative intelligence, decision intelligence, judgmental intelligence, paradoxical intelligence, social intelligence, etc.
In specific, you need to have strategic intelligence to diagnose the problems; paradoxical intelligence to strike the right balance; system intelligence to understand the interrelationship between parts and the whole; judgmental intelligence to make effective decisions, cultural intelligence to gain empathy, creative intelligence to think differently, design intelligence to delight users, or social intelligence to track competitors and do brand promotion, etc. Intelligence is multidimensional, and subjective as well; and a form of reasoning that is dependent upon a range of rules that the human brain calls up, at various levels of intent, quite fluid as information and chemicals-currents change via different lenses such as moral, ethical, emotional, intellectual, promotional, etc.
Today’s digital business environment is dynamic, complex, and uncertain. There are always different complexities at a different time or dimension, business intelligence is an effective tool to improve business-value creation. An intelligent organization will develop an effective information management strategy for acquiring, processing, and refining information, and continues to explore an innovative way to analyze, model, visualize and extract information value to formulate insight for solving complex business problems and weave the foresight to run a smart business.
Digital professionals today who need a dramatic change to the status quo in enterprise computing, are seeking to exploit the value found in convergence technologies. Business Intelligence in the dynamic digital environment can provide users with on-demand, self-service analytics capability that helps them make data-based, on-time decisions, and make context-based suggestions and recommendations continually. Intelligence convergence accelerates information flow, the business applies efficient BI tools to do scenario planning, data discovery, predictive analytics, data integration, connectivity, collaboration, visualization, user interfaces, and interactive capabilities, and streamline user-friendly business processes with the convergence of structural and nonstructural processes to improve business maturity.
Collective intelligence: It is our connectedness to others and the world around us that makes whatever intelligence we have truly useful to ourselves and to others; 'seeing' the context we are 'part' of, allows us to identify the leverage points of the system and then 'choose' the 'decisive' factors to make sound judgments. Collective intelligence is a digital phenomenon. Brainstorming fresh ideas and collective insight becomes the new attitude and reality, New generation of digital business empowered by digital technologies such as collaboration tools and analytics will extend an organization's physical boundary, enhance employees’ participation and engage customers to stimulate the creative side of the business to find better solutions to either old issues or the emerging problems and use collective intelligence to overcome business challenges.
Collective intelligence is the ultimate smartness of business. Like so many techniques, brainstorming can deliver great results if it is applied in the right context, and taking into consideration its limitations. The real value in these types of ‘group-based activities’, when done properly, is that it enables you to bring a diverse population together and a collective pool of all the expertise at the discussion table and leverage collective insight to make better decisions. Different cognitive styles react differently within idea-generating activities and observing how people interact with one another can provide managers with valuable management insight. The digital businesses with collective intelligence are not just the sum of functional pieces anymore, they do have the capability to take advantage of collective wisdom, and run a smart and cohesive business.
Multi-faceted business intelligence: Business Intelligence refers to computer-based techniques used in spotting, digging-out, and analyzing business data, to achieve business value. It is multidimensional and has been defined in several ways. It’s a cognitive process involving rational and abstract thinking. It’s also goal-directed and purposeful, which means that all intelligent activities are planned to reach a self-determined goal. Either at an individual or corporate level, there are all sorts of intelligence such as strategic intelligence, creative intelligence, decision intelligence, judgmental intelligence, paradoxical intelligence, social intelligence, etc.
In specific, you need to have strategic intelligence to diagnose the problems; paradoxical intelligence to strike the right balance; system intelligence to understand the interrelationship between parts and the whole; judgmental intelligence to make effective decisions, cultural intelligence to gain empathy, creative intelligence to think differently, design intelligence to delight users, or social intelligence to track competitors and do brand promotion, etc. Intelligence is multidimensional, and subjective as well; and a form of reasoning that is dependent upon a range of rules that the human brain calls up, at various levels of intent, quite fluid as information and chemicals-currents change via different lenses such as moral, ethical, emotional, intellectual, promotional, etc.
Today’s digital business environment is dynamic, complex, and uncertain. There are always different complexities at a different time or dimension, business intelligence is an effective tool to improve business-value creation. An intelligent organization will develop an effective information management strategy for acquiring, processing, and refining information, and continues to explore an innovative way to analyze, model, visualize and extract information value to formulate insight for solving complex business problems and weave the foresight to run a smart business.
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