As you can see from my blog I’m passionate about business intelligence and improving the way in which we mange and use data.
So here’s a few thoughts on business intelligence is and where it originates…
From Wikipedia, the free encyclopedia
Business intelligence (BI) is a set of theories, methodologies, architectures, and technologies that transform raw data into meaningful and useful information for business analysis purposes. BI can handle enormous amounts of unstructured data to help identify, develop and otherwise create new strategic business opportunities. BI allows for the easy interpretation of volumes of data. Identifying new opportunities and implementing an effective strategy can provide a competitive market advantage and long-term stability.
Wikipedia goes on to summarise some of the history citing Richard Millar Devens’ in the ‘Cyclopædia of Commercial and Business Anecdotes’ from 1865, where he used the term to describe how the banker Sir Henry Furnese had profited by receiving and acting upon information about his environment, prior to his competitors…
However a more recent example was also given in a 1958 article by IBM researcher Hans Peter Luhun who had used the term business intelligence as “the ability to apprehend the interrelationships of presented facts in such a way as to guide action towards a desired goal.”
So where does that leave us… For me business intelligence is essentially turning data into meaning information to help support better quality decisions and outcomes