Analyzing all this data and coming to the meaningful conclusions which will actually help make business decision that will lead to growth and profits is itself challenging task. My company routinely consults with clients and develops BI solutions for them. What we find is - that companies are not necessarily always clear about what they are trying to gain from the BI apps. Even starting with general goals and then zooming in to more specific insights can lead to substantial Business Intelligence.
Nice article in Information Week--
IBM's Business Analytics Center of Competency, headquartered in the tech center of Bangalore, will employ more than 200 consultants skilled in applying business analytics and data mining techniques to complex information challenges and opportunities, IBM said.
Make no mistake--this isn't low-margin, end-of-life commodityware Big Blue is tossing over the border. IBM CEO Sam Palmisano last week told my colleagues Bob Evans and Rob Preston that the business analytics wave "is just at the beginning" and that the technology, along with cloud computing, will have a profound impact on the IT segment in the years ahead.
The reasons behind vendors' rush to India for their business analytics needs are pretty straightforward. The country offers an abundant supply of low-cost, highly skilled labor, and geographic proximity to growing emerging markets--including India's own burgeoning domestic economy.
To boot, the creation of business analytics tools takes more than just traditional software development skills, it also calls for high-end math capabilities given the emphasis on data mining, statistical sampling and forecasting. India produces about 690,000 math and sciences graduates each year, according to a study released Friday. The comparable number for the U.S. is 420,000.
Over the years, companies have created tons of data from their everyday business activity. And, storage price is cheap than ever. With challenging economic times, companies are struggling to create niche and/or competitive advantage. Best way to start? Their own database of information.