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
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