Posted by admin on February 25, 2010 under Business Intelligence and Data Mining | 
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Healthcare business intelligence can benefit everyone from the patient to the hospital executives. It’s a known fact that health insurance providers collect in-depth patient information to help determine premiums, formularies and rosters. This information could be harnessed to make the industry more efficient.
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Government business intelligence can help the bureaucracy run more efficiently. Recently, there has been quite a push towards e-government, making the services of federal, state and local government easily available online. E-government eventually promises to make the days of waiting in line at the DMV or Social Security office a thing of the past. However, as evidenced by the lack of online services available federally and at the state level, we have a long way to go.
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Many businesses are using data warehousing to keep record of past transactions and operations. Historical data can be quite useful in many business intelligence channels. Only recently has it been possible for organizations and corporations to extract and analyze legacy data while storing it and making it readily accessible for future use. This data can be quite useful in any decision-making process.
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Data quality problems cost businesses billions of dollars each year. Data on customer tastes and habits is being collected at an unprecedented rate. With this glut of data, the chances of problems arising due to misread trends or erroneous data only climb higher and higher. Just recently, quality of data has become an important issue for industries that must conform to government trade regulations. A reliable data quality solution not only delivers hard numbers and analyses, but does so in a manner that is verifiable and consistent.
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Business performance management, or BPM, can help you put the information gained from business intelligence into action. BPM helps you get the most out of each of your business’s resources including financial, material and personnel, resulting in a greater return on investment. Well-structured BPM strategies can help influence and attract shareholders and investors.
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“Business Intelligence” is a term that means many things, and can vary from industry to industry. There are, however, some underlying principles and practices that have emerged in our modern world of commerce that are universal in their purpose, if not their application. Data mining is one such idea that has been revolutionizing the way businesses view their processes, sales, clients/customers and business plans for more than a decade. Read more of this article »
