http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.63Change: -0.14
R/$ = 10.59Change: -0.08
Au 1284.15 $/ozChange: 2.53
Pt 1405.00 $/ozChange: 5.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Nelson Mandela 1918 - 2013   Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science & Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Jan 25, 2012

Company Announcement: Business Intelligence’s social evolution

Back
Facebook|MicroStrategy|Twitter|Enterprise-wide Standardised Services|Social Media|Mark Bannerman|Business Intelligence|Smartphones
facebook|microstrategy|twitter|enterprise-wide-standardised-services|social-media|mark-bannerman|business-intelligence|smartphones
Download PDF
usiness Intelligence’s social evolution (0.04 MB)
 

In this information age, the businesses that have the best relationship with their data are the businesses most likely to succeed. And over a very short space of time as the amount of data has grown exponentially and the ability to access information becomes more urgent, this relationship between businesses and data has shifted from being quite simple and straightforward, to something potentially extremely complex. So, the companies getting business intelligence (BI) right are at a significant competitive advantage over their peers.


Since the initial phases of BI – five to 10 years ago – it has changed beyond recognition. And the evolution of BI has been driven by some of the massive technological developments taking place around us, the latest being social media and big data.


But in the early-2000s when BI was in its infancy, operational reporting was the name of the game. BI consisted of line-by-line items in its raw state, with little trending and analysis. The next step was to shift the view of the data from this detailed state, to a more strategic 1,000-foot level. This gave companies summary views of key performance points, rather than a mass of data too detailed to have much meaning.


This was a significant shift for BI as a sector: because senior management was now being served with useful information they could base decisions on, the value of BI for them shot up tenfold.


The next big step for BI was shifting it out of the hands of IT, and into the hands of the business owners who needed and used the information. Traditionally the business relied on the IT department to deliver on their data needs: IT would receive the request, schedule the work and build intensive queries in order to provide the data. All too often, by the time it was delivered, the query would be out of date, or the relevance would have been forgotten. In the meantime, IT had been diverted its other priorities.


The solution was to give business managers the ability to run ad hoc themselves via a simplified front-end to extract the data they needed then and there. By putting the BI capability in management’s hands, they could develop reports and gain understanding on the fly – massively shortening the decision making process.


This last step truly unlocked the value of data and information in an organisation, providing management with the intelligence to make informed decisions to drive the business forward.


But BI still had a way to go, despite this watershed development. Surveys carried out in 2007 showed that 50% of key business decisions were still being made by “gut feel”. This was often due to excessive data but insufficient analysis, or, conversely too little information to support informed decision-making. The root cause of this was often a siloed deployment of BI in companies, resulting in no single view across the entire organisation. Over the next two years, this was remedied with enterprise-wide standardised services.


Bringing us to today, when hardware continues to decrease in relative cost, giving us a greater capacity to store data. In addition, thanks to massive progress in the mobility space, we now have the ability to collect and consume detailed BI data on the go via our smartphones and tablets, making accessing information and subsequent decision making as close to real-time than ever before.


Simultaneously we have seen the massive amounts of customer data being generated on social media platforms, where people are sharing their likes, dislikes, location, brand preferences and a host of additional information previously never available on such a scale, in real time, to brands and businesses. This offers businesses the largest opportunity we have ever seen to align sales and marketing efforts to customer preferences.


Companies can now gain deeper than ever insight into their customers by cleverly working the data the consumers have voluntarily shared with them, via platforms such as Facebook and Twitter, if their BI service provider has social media capabilities. This insight can then be used to interact with customers in more relevant, timely and appropriate ways, as well as measure the impact of any engagement activity.

Looking ahead, the charmed partnership between mobile, social and BI is going to remain critical to driving competitive advantage in successful businesses around the globe.

Edited by: Creamer Media Reporter
Comment Guidelines
 
 
 
 
 
 
 
 
Other Announcements News
Updated 6 hours ago 13 to 15 May 2015 will see C-star, an event forming part of the EuroShop family of trade fairs and specifically geared to the Chinese market, being held in Shanghai for the first time. The kick-off for C-star at this year’s EuroShop in February could not have been...
Updated 6 hours ago Heidelberg Mall, due to open in October 2014, has attracted a top line-up of national retailers and it is already 90% let. The mall’s tenant mix includes big-name retailers Checkers, Woolworths, Edgars, Game, Clicks and Dis-chem.
Updated 7 hours ago The latest development from Sonderhoff Chemicals, the flameproof polyurethane foam seal Fermapor® K31-A-45C4-2-UL-FR, complies with US fire protection standard UL 94 HF-1. The seal also has a UL listing for US testing standard UL 50E for switch cabinets and...
More
 
 
Latest News
Updated 5 hours ago As industry prepares for the launch of South Africa’s digital terrestrial migration, the South African Communications Forum (SACF) hosted a workshop to determine the country’s readiness in terms of compliance of set-top boxes [STBs] and access to funding. The...
Higher Education and Training Minister Blade Nzimande
Updated 5 hours ago Higher Education and Training Minister Blade Nzimande has outlined plans for the development of a new health and allied sciences university into which the Medical University of Southern Africa (Medunsa) campus of the University of Limpopo, located in Ga-Rankuwa, will...
Communications Minister Yunus Carrim
Updated 6 hours ago The costs of communicating have to drop, Communications Minister Yunus Carrim said on Wednesday. "Clearly, the costs have to come down. It's not just in the interests of the poor and disadvantaged but the economy as a whole," Carrim said in a statement following a...
More
 
 
Recent Research Reports
Steel 2014: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2014 report provides an overview of the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon steel and stainless...
Projects in Progress 2014 - First Edition (PDF Report)
This publication contains insight into progress at the delayed Medupi and Kusile coal-fired projects, in Mpumalanga and Limpopo respectively, as well as at the Ingula pumped-storage scheme, which is under construction on the border between the Free State and...
Automotive 2014: A review of South Africa's automotive sector (PDF Report)
The report provides insight into the business environment, the key participants in the sector, local construction demand, geographic diversification, competition within the sector, corporate activity, skills, safety, environmental considerations and the challenges...
Construction 2014: A review of South Africa's construction sector (PDF Report)
Construction data released during 2013 hints at a halt to the decline in the industry during the last few years, with some commentators averring that the industry could be poised for recovery. However, others have urged caution, noting that the prospects for a...
Electricity 2014: A Review of South Africa's Electricity Sector (PDF Report)
This report provides an overview of the state of electricity generation and transmission in South Africa and examines electricity planning, investment in generation capacity, electricity tariffs, the role of independent power producers and demand-focused initiatives,...
Defence 2013: A review of South Africa's defence industry (PDF Report)
Creamer Media’s 2013 Defence Report examines South Africa’s defence industry, with particular focus on the key players in the sector, the innovations that have come out of the defence sector, local and export demand, South Africa’s controversial...
 
 
 
 
 
This Week's Magazine
The Electronic Systems Laboratory (ESL) of the Department of Electrical and Electronic Engineering at Stellenbosch University is strongly reaffirming its position as one of South Africa’s leading centres for satellite technology and expertise. It is currently...
MORE IN SA Phase 2 should see local content on the mainline locomotive increase from 65% to 80% by the end of 2014
The world’s lowest-cost diesel-electric locomotive is not made in China, but in Pretoria, at RRL Grindrod Locomotives’ newly upgraded 30 000 m2 plant. The company’s locomotive pricing is “more competitive than any other original-equipment manufacturer (OEM)...
The South African Defence Review 2012, released to the public at the end of last month (despite the year given in its title) recommends the creation of the post of Chief Defence Scientist. This official would be responsible for the management of defence technology...
AltX-listed engineering technology company Ansys has been awarded an R188-million contract by Transnet to supply integrated dashboard display systems to the freight rail utility’s locomotives. Black-owned and controlled Ansys developed the bespoke integrated system...
South Africa’s sole nuclear power station Koeberg, which is located in the Western Cape, breached a major operations milestone on April 4, which marked the thirtieth anniversary of Unit 1 having been connected to the grid. Eskom, which operates the two-unit plant,...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks