In the business environment today, the difference between survival and extinction often rests on a thin edge of higher efficiency in reacting to complex business situations and providing the basis for improved business decisions. This all is dependent on how we collect, assimilate and interpret credible data and it is here that Data mining and Data warehousing comes into picture. It helps us in improving the quality and effectiveness of assimilating data and interpreting it for future business decision-making process. Proper implementation of Data mining can help an organization achieve high return on investment decisions by exploiting one of the enterprise’s most valuable and often overlooked assets—DATA!
The basic function of Organisation Intelligence is:
Collecting Data -> Formatting it -> Converting it into useful information -> Trying to capture a pattern. This pattern helps the organisation to take a decision in devising a new strategy.
Through the diagram below, I have tried to capture the essence of this above statement:
