ADS – automated decision systems
ADW - active data warehousing
ANN – artificial neural network
BA – business analytics
BAM – business activity management
BI - business intelligence
BICC – BI Competency Center
BPM – business performance management
BSC - balanced scorecard
CPM – corporate performance management
CRISP-DM - cross-industry standard process for data mining
CSF – critical success factor
DBMS - database management system
DMAIC - define, measure, analyze, improve, control
DSS – decision support system
DW – data warehouse
DWA - data warehouse administrator
EAI - enterprise application integration
EDW – enterprise data warehouse
EII - enterprise information integration
EIS – executive information systems
EPM - enterprise performance management
ETL – extract/transfer/load
GIS – geographical information systems
GUI - graphical user interface
HITS - hyperlink-induced topic search
HOLAP - hybrid OLAP
IPA - intelligent process automation
KDD - knowledge discovery in databases
KMS - knowledge management systems
KPI – key performance indicators
MIS – management information systems
MLP - multi-layered perception
MOLAP- multidimensional OLAP
NLP - natural language processing
ODS - operational data store
OLAP – online analytical processing
OLTP – online transaction processing
PDA – personal digital assistant
PLM - product life cycle management
RDW - real-time data warehousing
ROLAP - Relational OLAP
RDBMS - relational database management system
SEM - strategic enterprise management
SEMMA - sample, explore, modify, model, assess
SOA - service-oriented integration
SCM – supply chain management
SVD - singular value decomposition
SVM - support vector machines
TDM - term-document matrix
TUN – Teradata University Network (teradatauniversitynetwork.com)
Supporting sites:
teradatauniversitynetwork.com
pearsonhighered.com/turban
information-management.com
tdwi.org – the Data Warehousing institute
olapreport.com
dssresources.com
businessintelligent.ittoolbox.com
b-eye-network.com
aisnet.org
enterprise.waltoncollege.uark.edu/mec.asp
hbsp.harvard.edu/b01/en/academic/edu_home.jhtml
bpir.com
idea-group.com
knowledgestorm.com
cioinsight.com
technologyevaluation.com
baselinemag.com
Sunday, January 22, 2012
Saturday, January 21, 2012
2012 - The Year of the Big Data
According to the Wall Street Journal columnist DENNIS K. BERMAN, analytics harvesting from massive databases will begin to inform our day-to-day business decisions. He calls it Big Data, analytics, or decision science. Over time, this will significantly change our world. Computer performance power grows so fast, that "systems can now chew through billions of bits of data, analyze them via self-learning algorithms, and package the insights for immediate use." Analytics and self-learning algorithms will be a game changers. An example of the trend is the fact that Hewlett-Packard recently bought Autonomy which has a technical solutions to clean unstructured data and to apply analytics to that big data. It also helps organizations to derive meaning and value from their information. A collection of computer technologies that work with the Big Data are collectively known as Business Intelligence (BI), and also referred to as business analytics.
The importance of analytics is that it help us reduce human biases from our decision-making. Using BI will help us eliminate our worst human tendencies. The key point is to have analytics in a real time. Such information is a must for all types of decisions, for strategic planning and forecasting, and even for survival. Now business cycles become shorter and compressed; that is why faster, more informed, better decision making is a competitive imperative. Organizations have to work smart. A championship of BI become a smart choice for more and more companies.
Examples of how Opera or Mu Sigma helps their customers improve decision making and as a result increase revenue attract venture companies. Investing money in BI becomes very actual due to the fact that there is a whole class of things that couldn't be done five years ago.
Resources: DENNIS K. BERMAN http://online.wsj.com/article/SB10001424052970203462304577138961342097348.html
The importance of analytics is that it help us reduce human biases from our decision-making. Using BI will help us eliminate our worst human tendencies. The key point is to have analytics in a real time. Such information is a must for all types of decisions, for strategic planning and forecasting, and even for survival. Now business cycles become shorter and compressed; that is why faster, more informed, better decision making is a competitive imperative. Organizations have to work smart. A championship of BI become a smart choice for more and more companies.
Examples of how Opera or Mu Sigma helps their customers improve decision making and as a result increase revenue attract venture companies. Investing money in BI becomes very actual due to the fact that there is a whole class of things that couldn't be done five years ago.
Resources: DENNIS K. BERMAN http://online.wsj.com/article/SB10001424052970203462304577138961342097348.html
Wednesday, January 18, 2012
Organizational Perspective - from good to great.
Does every company has a strategic plan? Is this plan communicated to all level of organization and used for creating operational plans in every department? Are operational plans in every department even exist? A good example would be a marketing department. If such a plan exist, is it aligned with the organizational strategic plan? Continuing as example with the marketing department, are all activities in the department, and project portfolio are driven by this plan? These are questions that any growing organization starts to ask at some point during its growth.
According to the Organizational Project Management Maturity Model (OPM3), an organizational strategy can turn a good organization into a great one. And of course strategies that fail, or luck of strategy can quickly damage the organization's reputation and brand, internally and externally. "Effective strategy execution is the responsibility of all level of management, who must be involved actively and consistently to orchestrate required organizational changes and to manage the portfolio of investments that underpin these change initiatives."
An organization should have a governance mechanism that force the linkage between strategy and project portfolio. The right governance in project portfolio management provides decision-making transparency and increases likelihood of realizing desired return on investment.
OPM3 contains the Best Practices designed to help organization to achieve that.
The OPM3 framework contains three interrelated components: Best Practices, Capabilities, and Outcomes.
Best Practices include:
An Outcome is a tangible or intangible result of applying a capability.
OPM3 maturity assessment can help organization to see which Best Practices, Capabilities, and Outcomes an organization has and reveal about the organization's maturity level. Based on the assessment an organization can create an improvement plan.
Resource: PMI, Organizational Project Management Maturity Model (OPM3), Knowledge Foundation.
According to the Organizational Project Management Maturity Model (OPM3), an organizational strategy can turn a good organization into a great one. And of course strategies that fail, or luck of strategy can quickly damage the organization's reputation and brand, internally and externally. "Effective strategy execution is the responsibility of all level of management, who must be involved actively and consistently to orchestrate required organizational changes and to manage the portfolio of investments that underpin these change initiatives."
OPM3 contains the Best Practices designed to help organization to achieve that.
The OPM3 framework contains three interrelated components: Best Practices, Capabilities, and Outcomes.
Best Practices include:
- SMCI Best Practices - Standardize, Measure, Control and continuously Improve
- Organizational Enabler Best Practices - structural, cultural, technological, and human resources.
An Outcome is a tangible or intangible result of applying a capability.
OPM3 maturity assessment can help organization to see which Best Practices, Capabilities, and Outcomes an organization has and reveal about the organization's maturity level. Based on the assessment an organization can create an improvement plan.
Resource: PMI, Organizational Project Management Maturity Model (OPM3), Knowledge Foundation.
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