The dynamics of our society bring many challenges and opportunities to the business world. Within the last decade, hundreds of jobs have emerged particularly in the technology sector to help keep up with the ever-changing world and to compete on a larger and better scale than the competition. Two key job markets and the basis of this research paper are business intelligence or BI and data mining or DM. These two fields play a very important role in small to large companies and are becoming higher desired sectors within the back offices of the workplace. This paper will explore what the meaning of BI and DM really is, how they are used and what we can expect as workers ...view middle of the document...
Analysis of information informed for long-term decision making, but was slow and often required the use of instinct or expertise to make short-term decisions.
Essentially, business is a collection of activities carried on for whatever purpose, be it science, technology, commerce, industry, law, government, defense, etc. The communication facility serving the conduct of a business (in the broad sense) may be referred to as an intelligence system. The notion of intelligence is also defined, as "the ability to apprehend the interrelationships of presented facts in such a way as to guide action towards a desired goal."
In 1989 Howard Dresner, later a Gartner Group analyst, popularized BI as an umbrella term to describe "concepts and methods to improve business decision making by using fact-based support systems." In modern businesses the use of standards, automation and specialized software, including analytical tools, allows large volumes of data to be extracted, transformed, loaded and warehoused to greatly increase the speed at which information becomes available for decision-making.
Importance of BI and Data Mining
The bottom line is people are beginning to realize the effective use of BI/Data Mining and how it can transform their business and gain the competitive advantage. However, every organization is different and faces unique challenges in defining their BI vision and executing on it. Many companies are dealing with duplicate data, missing relevant data and no enterprise view of their database. The key is to learn how to cut through the chaos. Companies use BI to improve decision making, cut costs and identify new business opportunities. BI is more than just corporate reporting and more than a set of tools to coax data out of enterprise systems. CIOs use BI to identify inefficient business processes that are ripe for re-engineering.
Example of BI and Data Mining in CIS
The Business Intelligence Graduate Certificate Program at the Cox School of Business enables business managers and business analysts to understand how information can be accessed from corporate databases and data warehouses, and how models can be built for a broad variety of decision problems. The modeling techniques that are covered in the program range from traditional statistical models and optimization models to new techniques such as data mining and OLAP. The program also covers how many of these ideas are leveraged in corporate software systems such as KM, SAS, CRM and ERP systems.
BI/DM Employment Example
BI Architect- This position requires a Professional with Business Intelligence and Data Warehousing enterprise skills with a proven track record of success, aptitude, and leadership. The position requires a broad range of skills and the ability to step into different roles depending on the size and scope of an engagement. The qualified candidate would have proven experience developing successful Business Intelligence solutions. This individual will also...