Decoding BI 3.0

Is BI 3.0 like the Xbox when the older versions are like Atari? Here’s a lowdown on what BI 3.0 truly stands for.

Q: How does BI 3.0 change the face of the BI scene?

A: BI 3.0 is different from BI 1.0 and BI 2.0. The initial phase, BI 1.0, may be traced back to early 1990s when data began to be seen as a business driver. Reduction of time and errors in reporting along with increased reliability of data with automation was realized in the first phase of business intelligence, BI 1.0.

BI 2.0, on the other hand, focused on dashboards, reports, summaries and the presentation of the insights from the data in the later 2000s. BI 2.0 was primarily about department-wise reports whereby every business user could view reports related to his domain / department. In BI 2.0 world, the users from the domains such as marketing, sales, and operations, who knew about business, needed to view reports in a passive and reactive manner and apply their interpretation. In this phase, the facets such as presentation of reports, dashboarding, and scorecards became the key demands of business users from the BI tools. Slowly BI moved from being IT-dominated to being a collaborative program of IT and the business professionals.

BI 3.0 took this a step further with business users being able to align their BI systems with KPIs better. BI 3.0 has also been a phase when the aspects such as data quality and governance have gained importance. BI 3.0 is an evolution from its predecessors, and at the same time, ushers a different way of looking at data in Web 2.0 / Web 3.0 world. With the explosive growth of data fueled by social Web, BI 3.0 is changing the way businesses view and manage data.

With BI 3.0, the users get actionable insights about the business that matter to them. BI 3.0 also incorporates the ability to offer intuitive solutions to business problems-popularly known as predictive analysis.

BI 3.0 eliminates the clutter of data and reports and communicates only what matters. In a nutshell, it is about being:

… Social: You can leverage the power of collective intelligence in BI.

… Relevant: Automatically delivers relevant insights.

… and having ‘Self-service’ as a critical feature. This eliminates the need for business users to understand BI modeling and technology and thus focus merely on achieving their business goals.

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