How do you transform data into a strategic resource? A part of that process involves properly applying new technology to your data, but the most important part is being able to understand and subsequently build the business case for the value of information. This is partially an abstract exercise and partially a discrete one. This article looks at the difference between the traditional use of data in a transactional environment for the purpose of effecting operational side effects and the modern view of data as a valuable resource that can be used for analytical purposes. It introduces the savvy manager to the value of information, discusses what the aspects of information are that make up this value, and indicates what kinds of processing can be performed to add value to data. The article also looks at some examples of business intelligence (BI) applications to guide your understanding of how to build the business case for a BI program.
Author: David Loshin
Subject: IT / Technology / E-Business