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As a technology trend, business intelligence is still a powerful tool for enabling businesses to obtain right information at the right time and in the right format. One buzz word that has entered the 21st Century while somewhat remaining in stealth mode is the concept behind business intelligence 2.0. Recent history has shown that technology in conjunction with social web trends that gain a certain degree of momentum in the online realm tend to magnetically attract a 2.0 or 3.0 to their name.
What makes the concept of business intelligence 2.0 interesting is that it does not necessarily present a new form of business intelligence, but rather highlights key components of existing business intelligence that can provide data for companies in real-time and/or using web browser access to data.
 In a word, yes. The idea behind the Web 2.0 to 3.0 technology trend is that the web is being transformed into a database through social networks and other online resources that are ever more evolving and growing; these are online trends that businesses can use to interact with businesses and customers (or even within an organization) and allows for a richer engagement experience B2B and B2C. With so much online data sharing from millions of users from around the globe, why not tap into this wealth of information and create meaningful data measurements from it? Measuring user data is not the only possible means of obtaining further insight into trends and opportunities. Businesses can get real-time data revealing the metrics behind traffic from social networks, website backlinks, and other important factors that can show whether a business is growing or needs to branch out in a new direction. Many times businesses are not measuring the impact that the online world can have, which can have an impact on whether the business grows or shrinks in any economic situation. The real-time reports offered through business intelligence 2.0 are one way that businesses can get the near up-to-the-minute information needed to make the right decisions when necessary. Being able to obtain real-time reports is not the only aspect that makes business intelligence 2.0 stand out. Although the hype about adding 2.0 to just about anything can at times be questionable, one interesting element behind adding it to business intelligence is that it brands BI with an association to the power behind measuring online data--not just based on internal data findings. While business intelligence has always been about finding meaningful data from varying resources, BI 2.0 emphasizes the importance of finding meaningful data from an online community. Having raw data that is then compiled into organized and relevant information can reveal a wealth of insight for most businesses and especially for decision makers. |