10-04-2017, 07:47 PM
Business Intelligence 2.0 (BI 2.0) is a loose term referring to new trends and advances in Business Intelligence (BI). The "2.0" version number alludes to version numbers assigned to software even though it is only an abstract concept not a specific application (much like Web 2.0). In simple terms it refers to the new generation of Business Intelligence software that is more pro-active than reactive (the latter merely analysing data or reports produced after the fact). The first generation of Business Intelligence (BI 1.0) analysed decisions, while the next generation (BI 2.0) helps make decisions as or before events happen. This change is partly due to the popularisation of Service-oriented architectures (SOA), which enables intelligence to be built into business processes. Also open standards for exchanging data such as XBRL (Extensible Business Reporting Language) enables using data external to an organization, such as benchmarking type information. While BI 1.0 analyses or supports decisions that have already been made, BI 2.0 continuously calculates, is flexible/adaptable, intelligent (self tuning or adaptive - automatically adjusting based on results). BI 1.0 is "closed loop" (no outside input, because it happens after the events), while BI 2.0 is open loop (real time analysis with input as the events occur). BI 2.0 defines a higher abstraction level in that it works on the semantic data model, not requiring knowledge of data structures or canonical forms. Directed search and querying, based on the meanings of and relationships among objects (s. Semantics), allows practically any person or service to find what is needed without assistance, whether it is structured information (like relational databases) or unstructured content. This "direct" understandability of data models for humans is undoubtedly one of the core value proposition of BI 2.0 because it enables a new level of collaboration (see also Tim Berners-Lee's "unexpected reuse" or Ross Mayfield's "Power Law of Participation").