Management Decision Making by BI

• Business Intelligence Today

“Users constantly complain of information overload. That is too much information that lacks real insight, and not enough time to make sense of it all. More reports faster, isn’t the answer.” So how does traditional Business Intelligence fare in this age of intelligent business? Almost every major business or organization the world over uses some form of Business Intelligence (BI) to run their business. BI enables us to plan and budget, control costs, figure out how to acquire new customers, and understand how to retain our existing ones; how to comply with regulators and ultimately to report results to shareholders. In short, BI is the eyes and ears checking the performance of our businesses and has grown into a $12bn a year business in its own right.

• Vision for the New Business Intelligence 2.0

In a BI 2.0 world, as stuff happens in your every day business, the BI system can automatically store the data in memory, analyze and interpret the event’s significance, and in many cases, initiate a corrective action without any human involvement.

Almost every business practice has adapted to shortening business cycles, except for the Business Intelligence world. Why do we run our business operations disconnected from the insights that could make us more money and reduce costs? in an ‘always on world’ where we run our lives minute by minute, wirelessly connected to a wide variety of information sources, why should we run our businesses based on out of date information? Clearly something has to change in the way that we (human beings) use technology to process and analyze data.

• Predictive Analytics

One of the top topics in management discussions nowadays is utilization of predictive analytics for better decision making. Predictive analytics can simply be defined as the process of studying and learning from data and discovering all sorts of visible and hidden patterns and relationships within data and applying that knowledge to predict future events.

Predictive analytics has been around for years and has been continuously improving in terms of the algorithms used, the efficiency of the code and/or the design of software itself. Some large companies and some government departments have been taking advantage of this technology for years. 

• Breakthrough Creative Thinking Method

Dr. Roni Horowitz, back in 1980, was studying aeronautical engineering, became interested in finding a real effective creative thinking method that would help him achieve his professional and personal goals.

He read every possible book and took every possible course, but he couldn't find what he was looking for, until he came across the "Systematic Inventive Thinking" course 13 years ago.