Turning Slurry to Gold.

imageSometimes precious metals are not where we expect them. The slurry pump, used in fine mineral extraction to sift thru residual mud to find metallic gold, is akin to an analytics based reporting systems used to finding information gold in residual data. Some also call this data mining.

But equipment and system that do the job well may be redundant without the skill to use them. This watch-word comment I saved by Ralph Eastman says it well:

It seems Business Intelligence is actually not about systems, but about getting an edge by finding a way look thru the slurry to find the gold.

An information approach may be about managing data to getting it all on one place. But without a plan on to use it, that can be worse than leaving it all over the place in the organization. An intelligent approach sees people using the informational value of data to manage performance.

Value also differs: For example Insurance and Credit card companies use Business Intelligence to manage risk; Retailers use Business Intelligence to predict customer behavior and Phone companies use Business Intelligence for loyalty management. In many cases these mature Business Intelligence users also still call it data mining.

It seems business Intelligence as it is evolving now is it not just about having a single source of data all stored in one place. but more about having a continued ability to create reliable access to mine lots of information that many be stored once in more than place.

Source “BI: Is it about the tools or managers who use them?” March 2010

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