Business intelligence makes digital influences which touch every aspect of the business across the geographical and business territories, and shape a dynamic and ever-expanded global system of intelligence.
Nowadays, information is the lifeblood of business, the quality of intelligence depends greatly on the quantity of information. Either at individual or business level, contemporary intelligence is contextual and multidimensional, it’s the tool to make effective decisions and it’s the way to solve problems.
The domain logic of intelligent systems should account for the fundamental need rather than merely support status quo: Due to ever-evolving business dynamics, you have to look into an unknown future and attempt to define the landscape with its risks and opportunities, and take a broad range of perspectives on how to run a successful business. In the context of an organization, information is representation of organizational objects and processes and it can be refined into business intelligence. Intelligence is the understanding of the relationships between these objects, processes & patterns and derivation of associated value for the good of the organization. Information is actionable, the issue of "actionable" is more a matter of whether intelligence instructs smart actions, generates value and builds differentiated business advantage.
In practice, business intelligence has a lot of potential, but it can often end up being a static reporting tool instead of being used as an analytical tool. If getting it right, Business Intelligence can improve company profitability, optimize cost, and inherently generate more revenue per unit cost compared to competition across every demand pattern. It can sense and create new markets before competition. Thus, making it much more sustainable than the competition. Business systems can be highly intelligent, but only when the intelligence translates into action is any value creation possible.
Business Intelligence is a process that provides the necessary tools to build a “SMART” business: Today’s digital business environment is dynamic, complex, and uncertain. There are always different complexities at a different time or dimensions. To become more future-oriented and discover the path to where you need to go and be persuasive to lead others in the right direction. Business intelligence with the visualized forms such as reports, dashboards etc, can help business managers understand the business operations from a historical, current and future perspective, in a succinct and visually understandable format.
The convergence of machine learning, analytics, business intelligence, statistics & decision science will make a direct impact on building an intelligent business. In a business scope, there are some of the important bits and bytes of information needed to forecast a new market, an emerging technology trend, or the business growth opportunities. Predictive analytics might be what is seen through the windshield. It’s important to apply a system perspective to do data investigation, treat system-based data analytics or algorithms as akin to climate. To predict is to co-develop the future for running a better business. Intelligence-enabled processes in a systematic manner focus on optimizing future performance and keep the end - business goals in mind.
There is a marvelous system of intelligence at work around emerging digital technologies, but it is only a subcomponent of the global system of intelligence: The digital organization is a complex and adaptive business system which keeps evolving. Information Technology plays a fundamental role in deploying and operating the new ecosystems, circulating information within the ecosystem seamlessly, doing data-based analytics, taking smart actions, and responding to business changes continuously. It is not just working within the industry, but also permeating into a cross-ecosystem which is dynamic, continuous, expansive, interdependent, hyper-connected, and interactive.
The digital shift comes with an information shift, a shift that organizations will take advantage of abundant information to gain knowledge and insight, a shift to drive culture and transformation towards a more intelligent enterprise. From a sociological perspective, the bigger the problem you solve in terms of its positive impact to society, the more intelligent you are collectively. The global system of intelligence is developed based on the emerging digital technologies, optimized and people centric dynamic processes, as well as our connectedness to the world that makes whatever intelligence we have truly useful to ourselves and to others by a sort of resonance between our cognitive dimensions and the actual world we co-inhabit with those around us. Business leaders today need to facilitate and orchestrate the multitude of differences in global context, connect global dots, inspire and nurture the evolution of businesses continually.
Effective information management can deliver business insight and provide visibility into the business and certain kinds of trends can be seen and the early decision can be made in order to launch new products/services, manage changes, make business improvement, and ultimately create multidimensional business value, particularly for the long term. Business intelligence makes digital influences which touch every aspect of the business across the geographical and business territories, and shape a dynamic and ever-expanded global system of intelligence.
In practice, business intelligence has a lot of potential, but it can often end up being a static reporting tool instead of being used as an analytical tool. If getting it right, Business Intelligence can improve company profitability, optimize cost, and inherently generate more revenue per unit cost compared to competition across every demand pattern. It can sense and create new markets before competition. Thus, making it much more sustainable than the competition. Business systems can be highly intelligent, but only when the intelligence translates into action is any value creation possible.
Business Intelligence is a process that provides the necessary tools to build a “SMART” business: Today’s digital business environment is dynamic, complex, and uncertain. There are always different complexities at a different time or dimensions. To become more future-oriented and discover the path to where you need to go and be persuasive to lead others in the right direction. Business intelligence with the visualized forms such as reports, dashboards etc, can help business managers understand the business operations from a historical, current and future perspective, in a succinct and visually understandable format.
The convergence of machine learning, analytics, business intelligence, statistics & decision science will make a direct impact on building an intelligent business. In a business scope, there are some of the important bits and bytes of information needed to forecast a new market, an emerging technology trend, or the business growth opportunities. Predictive analytics might be what is seen through the windshield. It’s important to apply a system perspective to do data investigation, treat system-based data analytics or algorithms as akin to climate. To predict is to co-develop the future for running a better business. Intelligence-enabled processes in a systematic manner focus on optimizing future performance and keep the end - business goals in mind.
There is a marvelous system of intelligence at work around emerging digital technologies, but it is only a subcomponent of the global system of intelligence: The digital organization is a complex and adaptive business system which keeps evolving. Information Technology plays a fundamental role in deploying and operating the new ecosystems, circulating information within the ecosystem seamlessly, doing data-based analytics, taking smart actions, and responding to business changes continuously. It is not just working within the industry, but also permeating into a cross-ecosystem which is dynamic, continuous, expansive, interdependent, hyper-connected, and interactive.
The digital shift comes with an information shift, a shift that organizations will take advantage of abundant information to gain knowledge and insight, a shift to drive culture and transformation towards a more intelligent enterprise. From a sociological perspective, the bigger the problem you solve in terms of its positive impact to society, the more intelligent you are collectively. The global system of intelligence is developed based on the emerging digital technologies, optimized and people centric dynamic processes, as well as our connectedness to the world that makes whatever intelligence we have truly useful to ourselves and to others by a sort of resonance between our cognitive dimensions and the actual world we co-inhabit with those around us. Business leaders today need to facilitate and orchestrate the multitude of differences in global context, connect global dots, inspire and nurture the evolution of businesses continually.
Effective information management can deliver business insight and provide visibility into the business and certain kinds of trends can be seen and the early decision can be made in order to launch new products/services, manage changes, make business improvement, and ultimately create multidimensional business value, particularly for the long term. Business intelligence makes digital influences which touch every aspect of the business across the geographical and business territories, and shape a dynamic and ever-expanded global system of intelligence.
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