Business Intelligence 2.0
Encyclopedia
Business Intelligence 2.0 (BI 2.0) is a term that refers to new tools and software for business intelligence
Business intelligence
Business intelligence mainly refers to computer-based techniques used in identifying, extracting, and analyzing business data, such as sales revenue by products and/or departments, or by associated costs and incomes....

, beginning in the mid-2000s, that enable, among other things, dynamic querying of real-time corporate data by employees, and a more web- and browser-based approached to such data, as opposed to the proprietary querying tools that had characterized previous business intelligence software.

This change is partly due to the popularization of service-oriented architecture
Service-oriented architecture
In software engineering, a Service-Oriented Architecture is a set of principles and methodologies for designing and developing software in the form of interoperable services. These services are well-defined business functionalities that are built as software components that can be reused for...

s (SOA), which enables for a flexible, composable and adaptive middleware. Also, open standards for exchanging data such as XBRL
XBRL
XBRL is a freely available, market-driven, open, and global standard for exchanging business information. XBRL allows information modeling and the expression of semantic meaning commonly required in business reporting. XBRL is XML-based...

 (Extensible Business Reporting Language), Web Service
Web service
A Web service is a method of communication between two electronic devices over the web.The W3C defines a "Web service" as "a software system designed to support interoperable machine-to-machine interaction over a network". It has an interface described in a machine-processable format...

s and various Semantic Web
Semantic Web
The Semantic Web is a collaborative movement led by the World Wide Web Consortium that promotes common formats for data on the World Wide Web. By encouraging the inclusion of semantic content in web pages, the Semantic Web aims at converting the current web of unstructured documents into a "web of...

 ontologies enable using data external to an organization, such as benchmarking
Benchmarking
Benchmarking is the process of comparing one's business processes and performance metrics to industry bests and/or best practices from other industries. Dimensions typically measured are quality, time and cost...

 type information.

Business Intelligence 2.0 is most likely named after Web 2.0
Web 2.0
The term Web 2.0 is associated with web applications that facilitate participatory information sharing, interoperability, user-centered design, and collaboration on the World Wide Web...

, although it takes elements from both Web 2.0 (a focus on user empowerment and community collaboration, technologies like RSS
RSS
-Mathematics:* Root-sum-square, the square root of the sum of the squares of the elements of a data set* Residual sum of squares in statistics-Technology:* RSS , "Really Simple Syndication" or "Rich Site Summary", a family of web feed formats...

 and the concept of mashup
Mashup (web application hybrid)
In Web development, a mashup is a Web page or application that uses and combines data, presentation or functionality from two or more sources to create new services...

s), and the Semantic Web, sometimes called "Web 3.0" (semantic integration
Semantic integration
Semantic integration is the process of interrelating information from diverse sources, for example calendars and to do lists; email archives; physical, psychological, and social presence information; documents of all sorts; contacts ; search results; and advertising and marketing relevance derived...

 through shared ontologies to enable easier exchange of data).

According to analytics expert Neil Raden, BI 2.0 also implies a move away from the standard data warehouse
Data warehouse
In computing, a data warehouse is a database used for reporting and analysis. The data stored in the warehouse is uploaded from the operational systems. The data may pass through an operational data store for additional operations before it is used in the DW for reporting.A data warehouse...

 that business intelligence tools have used, which "will give way to context, contingency and the need to relate information quickly from many sources."

Lessons from social media

According to president and CEO Greg Nelson, BI 2.0 has a lot to learn from social media
Social media
The term Social Media refers to the use of web-based and mobile technologies to turn communication into an interactive dialogue. Andreas Kaplan and Michael Haenlein define social media as "a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0,...

, such as Twitter
Twitter
Twitter is an online social networking and microblogging service that enables its users to send and read text-based posts of up to 140 characters, informally known as "tweets".Twitter was created in March 2006 by Jack Dorsey and launched that July...

, Facebook
Facebook
Facebook is a social networking service and website launched in February 2004, operated and privately owned by Facebook, Inc. , Facebook has more than 800 million active users. Users must register before using the site, after which they may create a personal profile, add other users as...

, blogs etc. He lists, in the white paper Business Intelligence 2.0: Are we there yet?, lessons and opportunities that BI can learn from social media
Social media
The term Social Media refers to the use of web-based and mobile technologies to turn communication into an interactive dialogue. Andreas Kaplan and Michael Haenlein define social media as "a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0,...

.

Lessons and opportunities:

From Facebook
Facebook
Facebook is a social networking service and website launched in February 2004, operated and privately owned by Facebook, Inc. , Facebook has more than 800 million active users. Users must register before using the site, after which they may create a personal profile, add other users as...

 the following can be learned:
Destination naturally forces people to login and participate. Continuous flow of information. Provides environment for developers to create their own applications. Post things of interest (reports, graphics, interpretations) to my personal page (things I have discovered.)

From Twitter
Twitter
Twitter is an online social networking and microblogging service that enables its users to send and read text-based posts of up to 140 characters, informally known as "tweets".Twitter was created in March 2006 by Jack Dorsey and launched that July...

 the following can be learned:
Real-time, continuous flow of decisions, status about the business, complex event processing. Platform evolves through unplanned usage/organic evolution of capabilities. Succinct explanation of the state of the
business. Search commentary; generate word clouds that provide a visualization of the “vibe” or sentiment of the business. Tags and
users comments. Submit note-worthy information (anything on the web you think is newsworthy) – associate it with data or objects.

From blogs the following can be learned:
Information can be interpreted and informally published to a group of interested parties.

From RSS
RSS
-Mathematics:* Root-sum-square, the square root of the sum of the squares of the elements of a data set* Residual sum of squares in statistics-Technology:* RSS , "Really Simple Syndication" or "Rich Site Summary", a family of web feed formats...

 the following can be learned:
Commentary should be available as an RSS feed. Reports or data updates could be delivered via RSS feed.

The future of BI 2.0

According to president and CEO Greg Nelson the future of BI will see a great change when it comes to BI 2.0 In his 2010 white paper he concludes the following:
  1. Decisions, facts and context will be developed through crowdsourcing
    Crowdsourcing
    Crowdsourcing is the act of sourcing tasks traditionally performed by specific individuals to a group of people or community through an open call....

    .
  2. Similarly, data and reports will incorporate narrative context information supplied by users. For example, data points and graphs annotated with descriptive insight directly along side the results.
  3. Data will have a more direct linkage with action. When you see something wrong, the data
    Data
    The term data refers to qualitative or quantitative attributes of a variable or set of variables. Data are typically the results of measurements and can be the basis of graphs, images, or observations of a set of variables. Data are often viewed as the lowest level of abstraction from which...

     will tell you where it is going wrong and why. Exceptions, alerts and notifications will be based on dynamic business rules that learn about your business and what you are interested in.
  4. People will be able to directly act on information
    Information
    Information in its most restricted technical sense is a message or collection of messages that consists of an ordered sequence of symbols, or it is the meaning that can be interpreted from such a message or collection of messages. Information can be recorded or transmitted. It can be recorded as...

    . Interactions with operational systems, requests for information, comments, “start a discussion”, provide supporting information, “become a follower” of the metric, and “rate or report a problem” will reside alongside the data.
  5. Business decisions shall be monitored so that interventions and our hypotheses about business tactics will be tagged in the context of the data that measures its effect. Our ability to test a hypothesis will be integrated into our decision support systems. Say, for example, we see something in the data; we explore it; we understand its root cause; and design an intervention to deal with it. We will be able to tag interventions or events that have happened and have that appear in the context of the reporting of the data so that over time our collective knowledge about the world will be captured along side the data and artifacts.
  6. Visualizing data and complex relationships will be easier and more intuitive models of info-graphics will become mainstream. Tools will have the ability to create graphic representations of the data based on what it “sees” and displays the best visual display given what it has. Furthermore, the tools will learn what visualizations work best for you and your environment.
  7. The ability to detect complex patterns in data through automated analytic routines or intelligent helper models will be built into analytic applications.
  8. Finding information will be easier and search results will provide context so that we know when we have the right results. Users will have the ability to tag specific data elements at various levels (page, widget, some aspect of the data presentation – row, column, cell, line, point) or an abstract interpretation of the results. Anyone looking at the same data will see that context when viewed.
  9. Linkages with unstructured contents such as documents, discussions and commentary as well as a knowledge base of previously answered requests will be key to ensuring collective knowledge and collaboration.
  10. Technical, process and business event monitoring will allow streamlined operational processes (Business Process Engineering, Business Activity Monitoring, Business Rules Engineering) and learning models will be applied to organizational flow of data.*

    Challenges

    The question is, who will add these functions to their Business Intelligence applications
    Business intelligence
    Business intelligence mainly refers to computer-based techniques used in identifying, extracting, and analyzing business data, such as sales revenue by products and/or departments, or by associated costs and incomes....

     and when? And do we need a paradigm shift
    Paradigm shift
    A Paradigm shift is, according to Thomas Kuhn in his influential book The Structure of Scientific Revolutions , a change in the basic assumptions, or paradigms, within the ruling theory of science...

     to make it happen?

    See also

    • Semantic Grid
      Semantic Grid
      The Semantic Grid refers to an approach to Grid computing in which information, computing resources and services are described using the semantic data model. In this model the data and metadata are expressed through facts . Therefore it becomes directly understandable for humans...

    • Semantic Web Rule Language (SWRL)
    • Semantic wiki
      Semantic Wiki
      A semantic wiki is a wiki that has an underlying model of the knowledge described in its pages. Regular, or syntactic, wikis have structured text and untyped hyperlinks...

    • Ontology alignment
      Ontology alignment
      Ontology alignment, or ontology matching, is the process of determining correspondences between concepts. A set of correspondences is also called an alignment. The phrase takes on a slightly different meaning, in computer science, cognitive science or philosophy.-Computer Science:For computer...

    • Enterprise bookmarking
      Enterprise bookmarking
      Enterprise bookmarking is a method for Enterprise 2.0 users to tag, organize, store, and search bookmarks of both web pages on the Internet and data resources stored in a distributed database or fileserver...

    • Linked Data
      Linked Data
      In computing, linked data describes a method of publishing structured data so that it can be interlinked and become more useful. It builds upon standard Web technologies such as HTTP and URIs, but rather than using them to serve web pages for human readers, it extends them to share information in a...

    • Synonym ring
      Synonym ring
      In metadata a synonym ring or synset, is a group of data elements that are considered semantically equivalent for the purposes of information retrieval. These data elements are frequently found in different metadata registries...

    • Object-based
      Object-based
      In general, object-based indicates that something such as a theory, language, or model is based on the concept of object.In computer science, the term object-based has two different senses:...

    • Spreadmart
      Spreadmart
      A spreadmart is a concept describing the tendency of spreadsheets to "run amok" in organizations. Typically a spreadmart is created by individuals at different times using different data sources and rules for defining metrics in an organization, creating a fractured view of the enterprise...

    • Relationship extraction
      Relationship extraction
      A relationship extraction task requires the detection and classification of semantic relationship mentions within a set of artifacts, typically from text or XML documents...

    • Social BI
      Social BI
      Social BI, or Social Business Intelligence, refers to the creation, publishing and sharing of custom business analytics reports and dashboards by end users of Cloud technologies....

    The source of this article is wikipedia, the free encyclopedia.  The text of this article is licensed under the GFDL.
 
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