Business Intelligence Essay
The dynamics of our society bring many challenges and opportunities to the business world. Within the last decade, hundreds of jobs have emerged particularly in the technology sector to help keep up with the ever-changing world and to compete on a larger and better scale than the competition. Two key job markets and the basis of this research paper are business intelligence or BI and data mining or DM. These two fields play a very important role in small to large companies and are becoming higher desired sectors within the back offices of the workplace. This paper will explore what the meaning of BI and DM really is, how they are used and what we can expect as workers and learners of the technology and business fields …show more content…
Essentially, business is a collection of activities carried on for whatever purpose, be it science, technology, commerce, industry, law, government, defense, etc. The communication facility serving the conduct of a business (in the broad sense) may be referred to as an intelligence system. The notion of intelligence is also defined, as "the ability to apprehend the interrelationships of presented facts in such a way as to guide action towards a desired goal."
In 1989 Howard Dresner, later a Gartner Group analyst, popularized BI as an umbrella term to describe "concepts and methods to improve business decision making by using fact-based support systems." In modern businesses the use of standards, automation and specialized software, including analytical tools, allows large volumes of data to be extracted, transformed, loaded and warehoused to greatly increase the speed at which information becomes available for decision-making.
Importance of BI and Data Mining
The bottom line is people are beginning to realize the effective use of BI/Data Mining and how it can transform their business and gain the competitive advantage. However, every organization is different and faces unique challenges in