Big data, Data Mining, Business Intelligence, and IT

 

In today’s world, big data runs our everyday lives. From the TV programs that we watch, to the social media we follow, the routes we take to work, and everything in between, all of this is driven by big data analytics (Talend, n.d.). Data is collected from many sources, for many reasons, then is distributed and gathered by many platforms to be turned into useful information.  Advertising and marketing agencies use big data to influence how, where, and who they market to. Focused advertising can drive a surge in sales by hitting a more target rich population. Big data is made possible by data mining.

A lot like gem mining, data mining is the process of turning raw data into useful information. This process uses specialized software to find patterns in large batches of data. Data mining explores data to find solutions for particular business issues. Businesses can learn from the patterns detected to help plan more effective marketing strategies, decrease costs, and increase sales (Twin, 2022). Business intelligence (BI) uses this data and converts it into useful information for corporate executives. BI tracks key performance indicators (KPI) and presents it in a format that leads to better business decisions (Talend, n.d.).

Data mining possess the computational algorithms and intelligence needed to detect patterns in business that can influence and lead to business ideas and strategy. It is more focused on putting data into usable formats to resolve business problems. BI software can then takes these results and present them in the form of dashboards, reports, charts, and graphs. This display of BI is influential in getting data driven results. Metrics such as total customer support tickets and total revenue over time can show company performance results, giving management and stakeholders the confidence to make significant business decisions (Talend, n.d.).

Big data, data mining, and business intelligence are all supported an organizations Information Technology (IT) department. It is the IT department that possesses the equipment, technology, and software that are needed to support BI. Without the IT backbone that is behind business intelligence, there would be no BI. Intelligent organizations realize the importance of the relationship between IT and business intelligence, and do what is necessary to help cultivate that relationship through funding, business goals, and even business strategy.

 

References

Business Intelligence vs. Data Mining: A comparison. Talend. (n.d.). Retrieved September 25, 2022, from https://www.talend.com/resources/business-intelligence-data-mining/#:~:text=Business%20intelligence%20tracks%20key%20performance,solutions%20to%20particular%20business%20issues.

Twin, A. (2022, September 11). What is data mining? how it works, benefits, techniques, and examples. Investopedia. Retrieved September 25, 2022, from https://www.investopedia.com/terms/d/datamining.asp