Open Framework, Information Management Strategy & Collaborative Governance | Data & Social Methodology - MIKE2.0 Methodology
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Business Analytics

From MIKE2.0 Methodology

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Over the last two decades, organizations have built CRM, ERP and SCM systems to automate and streamline their business processes, creating a significant volume of data as a result. Business Intelligence and Performance Management (BIPM) platforms have been designed to analyze this data and deliver information to improve many organizations’ performance. BIPM enables greater maturity around data collection, data integration, and standard dashboard and reports to analyze past performance. However, organizations have yet to effectively turn raw data into actionable insight to support fact-based decisions and agile strategies which would allow them to take full advantage of predictive and descriptive modeling, data mining, text analytics, forecasting, optimization, simulation and statistical analysis techniques.

Business Analytics allow organizations to gain deep insights into their business, which can detect exceptions and identify patterns to drive effective decision-making. Master Data Management, Data Warehousing/BIPM, Business Rules Management and Data Integration technologies are all key components of the analytics strategy. To start on the fastest path-to-value, companies should follow a well-defined implementation roadmap towards a fully integrated solution.

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  • Biraja.
    Article Score:3
    Total Score:10