Real-Time Business Intelligence?
In today’s competitive environment with high consumer expectation, decisions that are based on the most current data available will improve customer relationships, increase revenue, and maximize operational efficiencies. The speed of today’s processing systems has moved classical data warehousing into the realm of real-time. The result is real-time business intelligence (RTBI). Business transactions are fed as they occur to a real-time business intelligence system that maintains the current state of the enterprise. The RTBI system not only supports the classical strategic functions of data warehousing for deriving information and knowledge from past enterprise activity, but it also provides real-time tactical support to drive enterprise actions that react to immediate events. As such, it replaces both the classical data warehouse and the enterprise application integration (EAI) functions.
Real-time business intelligence is also known as event-driven business intelligence. In order to react in real-time, a business intelligence system must react to events as they occur – not minutes or hours later. With real-time business intelligence, an enterprise establishes long-term strategies to optimize its operations while at the same time reacting with intelligence to events as they occur.
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