Archive for the ‘collaborative BI’ Category

The world  of Business Intelligence is changing. Access to information in the corporate world is now a must not just a nice to have. With the advent of social media, information can be easily accessed by all on both computing and mobile platforms. I recently deployed a substantial social media platform across the World Bank and it was seen a a major step forward in communications. But what was generating more interest in collaborative analytics where analysis can be done by many analysts anywhere in the world on the same data set. This gives great depth and insight from many perspectives and stops potential singular errors that can eminate from traditional approaches.

It is no mistake that social media is an interal part of the future BI initiatives and is changing the way we will deliver value to business. From collaborative analytics comes collaborative decision making. To achieve this collaborative decision-making (CDM) environment, Business Intelligence (BI) software is beginning to merge with Web 2.0 technologies, harnessing their rich, open-access, easy-to-use functionality that users have come to expect. The merging of BI and Web 2.0 technologies has given rise to the new concept of Social and Collaborative BI – a type of CDM platform. This platform, like social Web 2.0 technologies, is designed around the premise that anyone should be able to share content and contribute to discussion, anywhere and anytime.

IDC predicts that 2011 will be the year where the trend of embedding social media style features into BI solutions will make its mark, and that virtually all types of business applications will undergo a fundamental transformation.

IDC, along with many other analytics firms, also believes the emerging CDM software market will grow quickly, forecasting revenues of nearly $2 billion by 2014, with a compound annual growth rate of 38.2 percent between 2009 and 2014.

Leading edge companies are starting this approach and gaining early insight into a real competitive advantage driver

Paul Ormonde-James