Social Business Intelligence (SBI) is
the process used to efficiently and effectively combine social data with
corporate data so that decision makers can effectively analyze and improve
their business with the help of the trends and moods perceived from the
government. As in traditional Business Intelligence for users with a limited
expertise in database and Information and Computer
Technology, the goal was to
enable powerful and flexible analysis.
www.ebizq.net |
The
process of analyzing huge volumes of enterprise data usually stored in large
databases called Data warehouses, tracking the business performance and
assisting the business users to make better decisions based on real time data
is known as Business Intelligence. From a marketing point of view Business
Intelligence can be defined as a systematic strategic management tool that can
business user and support executives to make better decisions that are useful
for day to day operations and strategic planning.
Social
Business Intelligence has various uses in Computer Science such as Information
Retrieval, Database Systems, Natural Language Processing, Data Mining and Human
Computer Interaction.
Social Business Intelligence, or Social BI introduces
to the sharing, creation and publishing of custom business
analytics reports by users of Cloud technologies.
In 2009 due to the rapid growth of social media networks Social Business
Intelligence was first enabled, Social BI is allowed by the collaborative development of post user
generated analytics among business analysts and data mining
professionals. This has removed previous barriers of traditional analytics
applications.
Social Business
Intelligence can also be called as providing business intelligence based
on social media networks data. For example, a company selling mobile phones
needs to know how people are responding to their latest advertisements. The
reports are made using social media represent what people are talking about
their new product in real time. Collecting data from different social
media and preparing reports which will help company to decide to take further
steps. These dashboards, reports and visualizations which are made by the help
of social media will be helpful to companies to get efficient feedback and act
accordingly.
According
to the current market analysis the Business Intelligence Market is expected to
grow from 13.9 billion in 2013 to $20.8 billion by 2018, at an estimated CAGR
of 8.3% from 2013 to 2018.