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OI vs. BI

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According to Wikipedia, BI is a term to be assigned to business informatics, which describes procedures and processes for the systematic analysis of your own company.

OI, on the other hand, are categories of dynamic, real-time business analytics that provide visibility and insight into data, streaming events and business transactions to provide recommendations for action or even operational instructions from acute analysis results.

Traditional BI makes it possible to analyze historical data and draw conclusions that may be relevant for future behavior. Operational intelligence enables visibility and insight into the acute processes of ongoing business operations by using "in-memory computing and parallel analyses".In addition, this real-time information can be enriched with any other historical information, e.g. order data and CRM data.

This then enables professionals to respond very promptly to patterns, trends, risks and opportunities identified by OI, usually using role-based and easy-to-use dashboards, also called "lobbies".

The time-consuming and mostly manual elaboration of BI findings is now history. Compared to BI analyses, this also improves the "intuitive" understanding of the interrelationships in the various business processes.

OI systems allow not only to understand what is happening operationally (descriptive analysis), but can also make predictions about "future expectabilities" (predictive analysis).

The most advanced method is the prediction of what needs to be done to achieve a certain result (prescriptive analysis).

Without going into further details, it is obvious that operational intelligence is much more effective than BI and takes a much broader approach.

With the computing power available today, dependency-based analysis methods can be transformed into meaningful knowledge in real time with unlimited amounts of data, i.e. all usable raw data (BIG DATA).

OI is therefore virtually the answer to the many gaps that BI leaves behind. In addition to enhanced visualization and evaluative analysis, OI can also provide recommendations for action.

IFS Applications has been providing integrated operational intelligence functionality for several years and also offers powerful IoT and AI functionality in its portfolio.

In addition, the IFS Connect platform offers extensive integration possibilities.

 

Fig. Gartner: Reifegrad Advanced Analytics

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