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Ability to generate detailed reports showing new trends Ability to make more informed decisions based on collected business intelligence Dashboards offers a holistic view of the entire business as it gives the manager a bird's eye view into the performance of sales, data inventory, web traffic, social media analytics and other associated data ...
In 2007, a paper published by IEEE Computer Society Press presented guided analytics as one of the future trends in business intelligence. [1] In 2012, one of the main visual analytics experts, Ben Shneiderman, is co-authored in a paper mentioning guided analytics among the “interactive dynamics for visual analysis”. [2]
Business intelligence (BI) consists of strategies, methodologies, and technologies used by enterprises for data analysis and management of business information. [1] Common functions of BI technologies include reporting, online analytical processing, analytics, dashboard development, data mining, process mining, complex event processing, business performance management, benchmarking, text ...
Business analytics (BA) refers to the skills, technologies, and practices for iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods .
Predictive analytics is a set of business intelligence (BI) technologies that uncovers relationships and patterns within large volumes of data that can be used to predict behavior and events. Unlike other BI technologies, predictive analytics is forward-looking, using past events to anticipate the future. [3]
This automated analysis capability enables corrective actions to be initiated and/or business rules to be adjusted to optimize business processes. RTBI is an approach in which up-to-a-minute data is analyzed, either directly from operational sources or feeding business transactions into a real time data warehouse and business intelligence system.
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