Business Intelligence 2.0
So you thought the beginning and end of BI is the setting up of a cutting edge Data Warehouse? Well, think again. The BI landscape has undergone a sea change. Trying to articulate its various aspects and how it is evolving would fill several books. In this article, we will skim the surface and talk about the various ways in which BI is being perceived and handled in the current IT landscape.
If Traditional BI = Data Warehouse + Reporting Tools
Then
BI 2.0 = (Past + Present) Data/Analytics + Future Business Analytics + Reporting Tools
I have used this simple equation by way of demonstration: BI v2.0 is all about studying and analyzing Past, Present and Future trends using archived and real-time data feeds and then turning this data into knowledge for stronger decision-making.
It is real-time or it is of no real use:
When it comes to Traditional BI tools, the data retrieved from them, in today’s parlance, is considered outdated. Intelligence is gleaned after the fact—after significant time has elapsed between the actual activity and the time when it is analyzed in either an individual or aggregated fashion. In this Internet Age, even the lapse of a day could render that data obsolete.
BAM and CEP are real-time tools; data is analyzed as the transactions are being executed. It is this optimally effective decision-making in the moment that makes BI 2.0 so attractive to new age businesses.
Use Case:
Let us now look at a common use case: the Shopping Cart. Shopping on the web is one of the most common online transactional activities today, and it is increasing year over year. For high traffic sites like eBay and Amazon, business