Tag Archives: Social BI

Concept of Social Business Intelligence

18 Jun

Business Intelligence and Data warehousing services have been acquiring greater part of the information technology in the recent years. Although the BI tools and services are quite expensive, still companies required them in order to make right business decisions and remain efficient to provide their customers, clients and members with high quality service. There were key decisions made in organizations every day and executives had to rely exclusively on data-driven systems. These systems were aggregated into Business Intelligence (BI) platforms, showing key data from all of the systems in the organization. As these systems were purely data-driven and therefore backwards looking, they had no ability to incorporate real-time, rich, insightful knowledge – human knowledge. The fact is that data systems simply cannot keep pace with the rapidly changing business landscape. Whether you’re trying to track time-to-market for a product, determining competitor actions, or forecasting sales of a new product, your people have important information and context to share. They talk about it in the cafeteria and in the hallways, but it’s not in your BI systems.

So comes the Social BI

What is Social BI?

Social BI is nothing but the idea that we can consolidate from the social information to make better-informed choices that has imbued our lives. Social BI aims to bring that same power to making better business decisions. To be precise or simple social BI helps you to make right business decision through the socially available information in Wikipedia, facebook, twitter about your product, competitor or services.

Social business intelligence can offer organizations a means of achieving more accurate, and therefore more useful, data. People consistently express personal opinions on a diverse range of subjects via social media sites such as Facebook and Twitter. By monitoring, compiling and analyzing freely-shared thoughts on these sites, firms can gain substantial insight as to how their industries, organizations, products and services are viewed by the public. This information can then be leveraged to improve their offerings.

Business intelligence tools provide organizations with the means of transforming the monumental amounts of data generated on social media channels into a usable format. However, social business intelligence tools are only useful when properly implemented. To improve the quality of that data and their ability to analyze it, many organizations invest in association members’ software containing advanced business intelligence tools. By doing so, a firm can improve its knowledge of the industry and its customers and use that information to become more efficient, more productive and more appealing.

For more information on Social Business Intelligence, contact Shaughn Knight