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Business intelligence is a collection of tools and techniques necessary for transformation of raw data into meaningful and useful information for business analysis purpose. It is a key feature for an organiztion to gain a competitive advantage and maintain it. Most organizations ,for example ,Apple Co ltd give business intelligence a priority in their operations. The following are the key ways of applying business intelligence.
1. Measurement. This is a program that create hierarchy of performance and benchmarking that informs business heads about progress towards achieving business goals.This involves collecting and analyzing data about company's sales trend, product mix and customer service levels are crucial in business thriving.
other ways includes :
Collaboration platforms and,
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Next, speculate on the technological limitations regarding data, software, and hardware that you believe might challenge your chosen organization / agency in the future. Provide a rationale for your response.
The main challenge comes when handling big data ,e.g those originating from social media has proved to be a problem in finding methodologies and technologies to comfortably handle them. Furthermore, it is difficult to incorporate such data into real-time analysis systems. It is also complex ,with different types and thus requires complex architecture (Lyndsay Wise, president and founder of Toronto-based consultancy Wise Analytics )
The traditional BI tools cannot keep up with ever growing requirements thus unable to fully deliver real time data for end users.
Increase in data volumes means a need to increase in the RAM leading to subsequent increase of hardware cost. In an attempt to reduce hardware cost, companies have tried to employ use of integration softaweres and flash memory, causing an increased software cost at the end.
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