Franz Dill over at the emerging technologies blog Eponymous Pickle pointed out an interesting article in Information Week on business intelligence technologies.
Business intelligence systems provide information on the history, current status or future projections of an organization. Basically, anything that generates data that informs decision making could be considered a business intelligence system.
The article points out 4 technologies that are improving business intelligence systems:
1. predictive analytics: the ability to do better business forecasting using a mix of data and information sources and analytical software.
2. real-time business monitoring: the ability to better understand what is happening right now with the key performance factors of a business.
3. in-memory processing of information: this is a bit geeky, but in-memory processing refers to ability to store and process lots of data and information at one time. In-memory processing is required to do real-time analytics on large data sets.
4. Cloud delivery of business intelligence: the use of cloud and software as service delivery methods increases business intelligence deployment speed and flexibility.
Business intelligence systems provide insights on customers and business operations, improve decision making and reduce risk. These systems are augmenting and replacing "seat of the pants" management techniques and becoming increasingly popular with small businesses.