Business Intelligence Essay Example | Topics and Well Written Essays - 1500 words - 1

Business Intelligence - Essay Example Howard Dresner, a Research Fellow at Gartner Group in 1989, established the term "Business Intelligence", to describe a set of concepts and methods to improve business decision-making by using fact-based support systems. In "Business Intelligence: The Savvy Manager's Guide" David Loshin describes the basic architectural components of a business intelligence environment, ranging from traditional topics such as business process modeling, data modeling, and more modern topics such as business rule systems, data profiling, information compliance and data quality, data warehousing, and data mining. David Loshin has described Business Intelligence on the basis of Data Models, Data Standards. He has also extensively appreciated the use of XML as a framework that is gaining in popularity for developing data standards. While XML is not used to prescribe a standard; it is used to define standards for the exchange of information through conforming documents. Data values in an XML document are surrounded by tags (labels), that identify where the data content begins and ends. "To leverage business intelligence, business users need to understand the value of business intelligence and how it can help them. One of the more popular tables: promoting BI to increase adoption. It was simple, soft selling - business intelligence is value added and not obviously essential to many users. It requires a more proactive, promotional approach. Business intelligence also demands promotion because it is still relatively new as a technical innovation so few business users know all the myriad ways BI can be leveraged. To effectively promote business intelligence, you first need to apply some marketing concepts to your BI deployment. Fail to do this first and at best you will have zero impact and at worst come across as a glorified technocrat trying to justify your existence." Promoting Your Business Intelligence Initiative, Cindi Howson, 8th October 2008. http://www.b-eye-network.com/view/8656. As any marketing guru would confirm, the success of any business depends on marketing. Marketing as a concept has to keep in mind various factors and has to be managed in a planned and strategic manner. In "Promoting Your Business Intelligence Initiative", , 8th October 2008, accessed on 3rd Nov,2008, http://www.b-eye-network.com/view/8656. Cindi Howson, states the following: "Marketing is about focusing on what customers need so providers can build better products they'll actually use. It's the strategy that goes into the BI application before you begin touting it as your company's killer app." In common terms, business intelligence can be described as the sum total of factors, which help take major decisions in any business. These factors include customers, competitors, business partners, economic environment and internal operations. Customers are the key to any business' success. The entrepreneur must make it a point to keep the customer's preferences in mind while designing a product. Again, geographical and cultural factors need to be given due importance while designing a product for a certain market. Business intelligence can be used to align businesses and products according to customers' preferences. Business Intelligence is used to collect data from customers within the marketplace. Customer surveys and polls are tools to gauge