1) Business intelligence is a set of tools and processes that analyze raw data to provide useful information to make business decisions. It includes technologies that transform data into meaningful insights.
2) Key aspects of business intelligence include allowing organizations to get a more accurate view of business and customers, increasing visibility, and enabling analysis of customer behavior.
3) Strategic knowledge management helps identify business needs, organize information flow, implement plans, and evaluate to improve by addressing goals, competitive advantage, and organizational performance.
2. Business Intelligence
1. Definition
2. Business Intelligence as a subset of Knowledge Management
3. Business Intelligence and Strategic Knowledge Management
Key aspects of any business
o Knowledge Management
o Business Intelligence
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3. What is Business Intelligence?
ïŒ A set of theories, methodologies, processes, architectures and
technologies that transform raw data into meaningful and useful
information for business purposes.
ïŒ Business intelligence can be defined as "a broad collection of
software platforms, applications, and technologies that aim to help
decision makers perform more effectively and efficiently" (Arnott,
Gibson and Jagielska, 2004)
ïŒ Business Intelligence (BI) is computer-based techniques used in
identifying, extracting, and analyzing internal business data.
ïŒ Business intelligence aims to support better business decisionmaking by upper management. It is also called a Decision Support
System (DSS).
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4. The importance of BI
ïŒ Allows organizations to get a more accurate and detailed
picture of what is going on in terms of business and
customers.
ïŒ Brings visibility into the organization at granular levels
ïŒ It allows organizations to review customer behavior
BI allows the users to transparently access and analyse any
type of data through applications that are designed to
support the core business processes
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6. Keys to Successful BI Implementation
ïŒ Data âOn-Boardingâ Efficiency
ïŒ Data Accessibility
ïŒ Data Reliability
ïŒ On-Time Information Delivery
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7. Business Benefits
BI infrastructure enables the organization;
ïŒ to unlock the information and see data in new ways
ïŒ to integrate data across the enterprise
ïŒ empower business users to become information self- sufficient.
ïŒ empowers knowledge worker to make faster and better decisions
Improve productivity with better decision making and faster response-tomarket changes or other business events.
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8. How BI and KM are related
Business intelligence starts with a data warehouse and query/reporting and analysis tools for
the purpose of measuring historical activity.
However over time, BI activities will expand outward to embrace other kinds of data and
business processes that currently fall within the domain of knowledge management.
Wisdom
Review, Measure, Refine
nts
Eve
Action
Operational
Systems
Plans
Experience
Rules and Models
Knowledge
ta
da
Information
Analytical Tools
Data Warehouses
Analytical Systems
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11. STRATEGIC KNOWLEDGE MANAGEMENT
o Strategic Knowledge management helps in identifying
the needs of a firm, organizing flow of information ,
implementing the plan and evaluating the whole
exercise to find gaps and to rectify things in time.
o Strategic Knowledge management helps in achieving
the organizational goals.
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12. A strategic perspective on KM
A strategic perspective on KM means addressing:
1) vision and direction, and
2) how to organize and manage knowledge-related
resources for competitive advantage.
ï¶ Effects of strategic KM on innovation
ï¶ Effects of strategic KM on organisational performance
(1) financial performance - market performance
(profitability, growth and customer satisfaction);
(2) process performance â refer to quality and efficiency;
(3) internal performance - relates to individual capabilities
(employeesâ qualification, satisfaction and creativity)
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15. The 4 common barriers to
Strategic Knowledge Management
The âStrategic Intentâ for KM / KS is not understood by those
who must implement itâŠand not translated into
measurable objectives via a âSystems Thinkingâ approach.
Personal goals,
knowledge transfer,
and key competency
development is not linked to
strategy implementation
& the impact of the âChangeâ
is not fully understood.
Management
systems are
designed for
operational control
and tied to budgets
& not the strategic
value drivers.
Key processes, ERP systems & IT are not designed to
leverage the drivers of business strategy
- they tend to be âtransactionalâ and not âtransformationalâ.
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16. SKM & BI
ï± Understand knowledge and KM technologies important to build &
implement BI system
ï± Parameterization of the BI system is very essential for accurate
performance. It involves :
ïŒ Identifying and modelling business knowledge
ïŒ Monitoring and modifying various data
ïŒ Understanding how to interpret result & modify further queries
ïŒ Use the results for improving business decision making on
continuous basis
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17. SKM & BI
Business Intelligence (BI) refers to skills,
processes, technologies, applications and
practices used to support decision-making.
These involve intelligent data analysis and
mapping required for decision-making.
Business Intelligence and SKM provides business / e-business with the
necessary intelligence to improve on various business aspect.
An intelligent organization is always positioned to excel and satisfy
by making better decision
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19. TMâs APPLICATIONS INFORMATIONS
SOURCES
Enterprise Data WareHouse-BI Architecture
SUN DW20 SERIES
EDWH
MPP Technology 6 CPU â Dual
Core
16x3 Gigabytes
BI-CUS Datamart
GREENPLUM DW
End
Users
GreenPlum DB
BI-CPA Datamart
ETL Scripting â
SQL
GreenPlum DB
BI-RAS Datamart
GreenPlum
The outputs are crucial for the decision making processes
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21. The CUBE Engine
CUBE
The Analytic Workspace (AW) is used to store the multidimensional data types, e.g.
the dimensions, measures and cubes. An Oracle database schema can contain one or
more analytic workspaces in addition to owning the normal relational objects such as
the tables, indexes and materialized views.
23. Business Intelligence
Business intelligence tools search data to find meaningful information; they fall into two
classifications â reporting tools and data-mining tools
Reporting tools read data from a variety of sources, process that data, and produce
formatted reports
Use simple techniques; e.g., sorting, selecting and grouping to calculate totals and
averages.
Used primarily for assessment; e.g., What has happened in the past? What is the current
situation? and how does the current situation compare to the past?
Data-mining tools process data using statistical techniques, many of which are
mathematically complex.
Data mining involves searching for patterns and relationships among data.
In most cases, data-mining tools are used to make predictions; e.g., what is the
probability that a customer will default on a loan?
Business intelligence (BI) is the ability of an organization to collect, maintain, and organize data. This produces large amounts of information that can help develop new opportunities. Identifying these opportunities, and implementing an effective strategy, can provide a competitive market advantage and long-term stability.In short BI transforms data into knowledge - BI is used to collaborate on share view of the business drivers
Transforms data into knowledgeWhyThe world of data is changing80% unstructured, 10x increase 5/y, N/devices person, data marketsNew set of answers Brand social feeling, optimize using data mashups, predict futureMany organizations today use a collection of Business Intelligence (BI) tools and applications to allow experts to gather information from a variety of sources, analyze it, and share it with managers and staff.
Enterprise Business Intelligence requires not just a comprehensive BI tool set, but pervasive BI that provides insight to all employees within the context of their workflows. It needs to unify the many fragmented systems into a coherent enterprise view, while aligning forward-looking information to real time and historical data. It must be integrated ensuring accuracy and integrity of information across all delivery channels and resulting in lower cost of ownership. It needs to be fully secure to protect all enterprises information assetsSelecting the Right BI ToolKnow Your Business Check Your Solution Expectations Change Your Vendors Wisely Same old needs (but in faster cycles)Know our business, survive competition, make (better) decisions!Selecting a BI Tool with a specific need:Identify the problemFind the solution with clear business objective.
Many organizations today use a collection of Business Intelligence (BI) tools and applications to allow experts to gather information from a variety of sources, analyze it, and share it with managers and staff. Enterprise Business Intelligence requires not just a comprehensive BI tool set, but pervasive BI that provides insight to all employees within the context of their workflows. It needs to unify the many fragmented systems into a coherent enterprise view, while aligning forward-looking information to real time and historical data. It must be integrated ensuring accuracy and integrity of information across all delivery channels and resulting in lower cost of ownership. It needs to be fully secure to protect all enterprises information assets
Planning It should clarify knowledge goals and establish effective values and processes to support these directions.Takes time and demands perseverance.Requires ongoing monitoring and measurement.Progressive review and re-planning to handle changing environment.-------------------------------------------------------------------------------PeopleThe most important aspect is to recognize that strategic knowledge management lies with the people.People manage the system and processes.Need is to convince people about the benefits of strategic knowledge management.---------------------------------------------------------------------ProcessesKnowledge management principles need to be put into application via effective workplace practices.Careful management of the alignment of strategies, principles, processes and practices needs to be done.Messages about what is important might be perceived differently across the organization.Need of the hour would be to monitor the actual process regularly to ensure that it reflects knowledge priority--------------------------------------- ProductsEach organization builds itâs own knowledge output. Might be shared to client or exist as internally shared knowledge objects.Explicit knowledge should be captured and distributed efficiently and timely.Example â Intranet.-----------------------------------PerformanceRegular review to ensure that the financial and social capital investment is positively influencing the intellectual and social capital of the organization.Regular evaluation to consider how well knowledge management is integrated into the business context.------------------------
The purpose of a business intelligence system is to provide the right information, to the right user, at the right time.A tool is a computer programAn information system is a collection of hardware, software, data, procedures, and peopleA reporting tool can generate a report that shows a customer has canceled an important order.A reportingsystem, however, alerts that customerâs salesperson with this unwanted news, and does so in time for the salesperson to try to alter the customerâs decision.A data-miningtool can create an equation that computes the probability that a customer will default on a loan.A data-miningsystem uses that equation to enable banking personnel to assess new loan applications.
SKM Framework should create a knowledge view of the organisation and use knowledge dimensions as the basis for its competitive position in a specific industry or market. Technology and business models can then be combined to produce strategic KM capabilities that will deliver sustainable advantage