Business intelligence approach in a business management

Business Intelligence (BI) continues to top the list of CIO priorities, investment in BI technologies continues to grow and organizations are becoming increasingly reliant on BI to help reduce costs and grow revenues. However, structured measurement and monitoring of the business value that can be attributed to BI investment remain elusive.Business Intelligence (BI) is unanimous considered the art of gaining business advantage from data; therefore BI systems and infrastructures must integrate disparate data sources into a single coherent framework for real-time reporting and detailed analysis within the extended enterprise. Also the solution to a business problem is a process that includes business intelligence, BI, by itself, is rarely the complete solution to the problem. With respect to the project management framework, a project live cycle consists of phases like: initiation, planning, execution, monitoring & control and closing. Monitoring implies measuring the progress and performance of the project during its execution and communicating the status. Therefore, BI tools must understand the process and how to be part of it. Subordinated to performance management, Business Intelligence approaches help firms to optimize business performance. Looking inside the business and at the environment in which they operate, managers are able to fundament the most productive and profitable decisions. The new trend of social BI in business analysis comes with an innovative approach in consolidating performance management. A data warehouse schema for social BI will be a good start for future debates

Keywords:

business intelligence , performance management , social business intelligence , social data warehouse , project management , measurement of the business value