Moving on to Business Intelligence 2.0

Business intelligence is applications, practices and technology all combine for the use of collecting data and presenting them in a form which would be more useful to its users in doing their jobs and in making decisions. The first generation business intelligence, however, has its limitations. While it is useful in providing information to its intended users in a fast and timely manner, it is very much dependent on data and reports.

Just like technology, business intelligence is constantly changing, developing and also evolving. The term "Business Intelligence 2.0" actually just refers to the second generation business intelligence. It does not just examine past decisions but it helps decision making as things happen and as eventualities are predicted or foreseen. The data you will see in this next generation business intelligence is but dynamic and the analysis brought about is always in tuned with things as it happens. It does not only make information available to the people in the organization, but it also does so to third parties who have interest in the organization like the suppliers. The idea behind this is that if sales forecasts changes, for instance, it would affect production and in turn the suppliers. Unavailability of materials would hinder production from producing enough amount of goods and so it may not be able to serve the predicted sales should it come to fruition. Production would then be prompted to look into the matter and check their options and decide accordingly.

So in effect, "Business Intelligence 2.0" is a notch up to the first generation business intelligence in that it provides a more dynamic, timely and a more integrated data provision and retrieval. Because of this users are better served and are able to do their easier especially in terms of decision making.