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Running head: BUSINESS INTELLIGENCE 1

Business Intelligence

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BUSINESS INTELLIGENCE 2

Business Intelligence

Business intelligence (BI) is the complete process of gathering, organizing, analyzing and

utilizing information as done by businesses or enterprises, in order to achieve competitive

advantage in their particular industry or sector. In a business platform that is progressively

turning global, it is significant for business or enterprise owners to realize that, clients are

constantly getting access via globalized avenues such as the internet to better bargains, easier

service, more advanced alternatives for any goods and service they need. Likewise,

entrepreneurs or business people can also benefit immensely from using all resources they may

gather such as through internet, client feedback initiatives, more research and data mining among

other methods to improve their products and services as well as invest in more innovative

business practices to remain in business. This discussion will focus on business intelligence with

particular focus on online analytical processing and complex event analysis

Rud (2009) defines business intelligence as an organization’s ability to collect, organize

and maintain knowledge. Business intelligence therefore generates huge amounts of information

for the organization which, if used well, should help in developing opportunities, effective

strategy implementation, better decision making and ultimately, sustained business stability.

“Search Data Management” (n.d), states that, business intelligence is a very broad category of

technologies and applications, which helps in collecting, analysis and data access provision, with

the aim of helping business people make better decisions.

Business intelligence maybe used by varied organizations or persons so long as they are

in any form of business such as corporate, private entities, government agencies or small

businesses. The business intelligence has had many applications since inception. Some of the

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most widely known ones are in Online Analytical Processing (OAP), Data Mining (DM),

analytics, process mining, Business Performance Management (BPM), Complex Event Analysis

(CEA), benchmarking, and predictive analytics among others. While some of these applications

are older in nature, some of them are still emerging and rely on upcoming analytical software.

For instance, data mining, though popularized in the current computer era of widespread

Information Technology usage, may traditionally have been known in other terms such as

information trends analysis. Similarly, business performance management is as old as book

keeping. The more recent applications include online analytical processing and complex event

analysis or processing. Online analytical processing is a concept that is used to help

organizations or businesses that own websites to collect data selectively from various databases

within the website (“Search Data Management”, n.d).

To achieve this purpose, web based computer software is incorporated that filters the vast

streams of user data processed in the website and collects or retains certain data on basis of

categorization, keyword searches, most repeated words searches, most searched items logs

among other similar procedures. This application is especially useful in this era where personal

blogs are on the rise. Personal blogs receive advertisement proposals from advertiser’s

proportional with the amount of visitors viewing them. The viewer traffic is in turn dependent on

relevance of site information to users. Knowing what users want can be tedious if done

manually, and therefore a smart script that filters most searched words may help me as a blogger

know what articles/information to include in the blog. The other concept is complex event

analysis. According to Rud (2009), the ever changing global trends in different industries mean

that, today, investors and business people may understand consumers less than ever. In order to

begin to see where consumer trends are pointing, complex functions are developed to help

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visualize the complex scenarios. This means using the CEA business tools. One such field is in

global financial markets which are as dynamic as they are complex. As a potential investor,

business intelligence may come in handy.

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References

Rud, O. (2009). Business Intelligence Success Factors: Tools for Aligning Your Business in the

Global Economy. Hoboken, N.J: Wiley & Sons.

“Search Data Management” (n.d). Business Intelligence (BI). Accessed on October 22, 2012

from http://searchdatamanagement.techtarget.com/definition/business-intelligence

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