Six trends in business intelligence
Trend 5: Create feedback loops
For years, the cycle of data analysis has not been entirely automated. These days, you can take the functions of data discovery, transformation, loading into a data warehouse, the subsequent analysis and predictive capability for granted. However, taking action on the predictions has been a manual process. With the advent of e- commerce, the opportunity to complete the loop--to act upon the prediction automatically--is viewed by a number of vendors in the BI arena as a huge market in the future.
Whether you're trying to maximise passenger revenue on a particular flight or optimize a supply chain for a particular part, the benefits of--to quote SPSS' Brinkman--"turning insight into action" cannot be understated. Oracle's Merani is bullish on the concept.
He maintains that one needs to "operationalize the data that's been analysed. Use it on a daily basis; do it on an online basis. Do it in sales, do it in manufacturing. Build the model off-line when and where necessary, but deploy it online. You need to automate the feedback mechanism."
What it all means
Show customers how to increase the ROI quickly on their massive expenditures in enterprise resource planning, customer relationship and e-commerce systems by using the results of analytics as input to these systems.
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