Business Administration
Business Intelligence is the acquisition and transformation of raw information through various techniques and tools in order to make the information useful for business purposes. The techniques used are capable of handling large volumes of information that is usually unstructured. By the use of technology new strategies are identified and developed to create more business opportunities (Cukier, 2014). Business intelligence is a simple way of analyzing data in which implementation are made through effective strategies that facilitate the business to have a competitive market advantage which results in long-term stability. Big data is an extremely important tool for business that helps business in that it creates more understanding (Cukier, 2014). Both big data and business intelligence facilitate the use of knowledge in order to come up with better solutions. The use of information transforms the society of today due to advancement. Business intelligence differs from big data in that tools and technological techniques are used to analyze the data in order to have more meaningful information while big data requires the intelligence of individuals to understand it in order to make improved decisions (Cukier, 2014). The benefits of using business intelligence and big data help in the transformation of the world and how to deal with challenges. Both techniques require training in order to make them more efficient.
Information is regarded as an importance tool that has many attributes. It leads to promptness, accuracy, precision and completeness of any decision made. Clarity of information avoids unambiguity which results in the smooth learning of business. Big data comes in various forms. It is prescriptive, predictive, diagnostic, and descriptive (Cukier, 2014). The Big data analytics are value as it facilitates the use of information to solve existing problems. Quality data is the information that is regarded as fit for the intended use such as in operation, planning and decision making. Quality data helps achieve the company objective, increase efficiency which results into customer satisfaction in return creating high revenue (Cukier, 2014).
According to Goetz medical charts are hard to access and have useful information that can be used to make humans life much better and healthier if they knew how to use the information. The information in the medical charts is impossible to read (Goetz, 2010). This usually has an impact on patients as they are not able to read the information on the charts making them unable to make right and informed choices. The magazine was interested in the medical data as it involved intelligent treatment by the use of technology which involved analog microchips in treating clinical illness (Goetz, 2010). Business intelligence would have a great and a positive impact on people. This is because they will be able to read the information, try to analyze it and come up with better decisions that will make them healthier. Other industries such as banking industry will benefit from the use of the intelligence system. This will ensure that credit card usage is understood and default rates will be known.
Big data has opened doors for innovations such as having a bunch of sensors on the chairs. This is used to gather information and transmit the data giving each person a unique identity similar to that of fingerprints. Big data has also enabled the detection of drivers in their cars seats that prevents car theft. The technology through big data has also enabled the use of cars by certain drivers, prevention of accidents through the vibration of the steering wheel to wake up the driver among others (Cukier, 2014). Automatic data processing and analysis through the machine learning undermines automatic learning due to the fear of big data era. There are concerns about the privacy and how it will safeguard the free will of the people. It is also terrifying in that by the use of machine learning people's jobs would be taken away. It undermines the process by stating that by use of data as a tool to enable human accomplishment there is also a chance that the same tool can kill if used wrongly (Cukier, 2014).
Visualization of performance through dashboards is a key component of business intelligence. Having worked in an organization that uses visualization of performance through dashboards displays a sense of pride is created (ACOBS & Rudis, 2014). This shows that the organization is proud of what it has achieved to enhance a competitive advantage over its competitors as it is easy to manage a business. People are able to see what the company can do creating confidence to the people (ACOBS & Rudis, 2014). Using dashboards and visualization of a hospitality industry in which I aspire to work in will be beneficial to the business. By using dashboards a company can be able to compete due to the key performance indicators as there are patterns and trends that already exist.
Reference
ACOBS, J. A. Y., & Rudis, B. (2014). Data-driven security: Analysis, visualization and dashboards. New York, NY: Wiley.
Cukier Kenneth (2014) Big Data is Better Data. Retrieved from
https://www.ted.com/talks/kenneth_cukier_big_data_is_better_data
Goetz Thomas (2010) It's Time to Redesign Medical Data. Retrieved from
http://www.ted.com/talks/thomas_goetz_it_s_time_to_redesign_medical_data
