This blog post was first published on the Norwegian Visma blog. You can read the original article here.
The challenges with traditional Business Intelligence (BI)
In the digital economy, being able to change in real-time has become crucial. The faster an organisation can respond to events as they occur, the better it can compete. This means enabling both people and systems to stay up to date with real-time information and analytics to optimise all parts of the business at all times.
Traditional Business Intelligence (BI) fails to deliver on these demands. It has a passive approach that uses preconfigured, historical datasets that represent the past in an attempt to predict what will happen in the future.
What about the ability to understand and make informed decisions about what is happening right now? Simply put, traditional Business Intelligence solutions were not designed to make real-time data-based decisions.
Today’s organisations need a more dynamic relationship to the information: One where data has high business value because it reflects what is happening at the moment. Where information flows continuously into daily processes and systems so that users can engage with it in intuitive ways at any time. And also, create instant awareness of all aspects of the business and the market.
You might also be interested in reading: Top 10 Business Intelligence trends in 2022.
What is Active Intelligence?
Active Intelligence is a state of continuous intelligence or insight where technology and processes support a need to act immediately based on real-time data.
The demands of the digital economy are driving necessary changes in the approach to modern BI. The new paradigm, Active Intelligence, aims to overcome the shortcomings of traditional, passive BI by delivering continuous insight from real-time data. This real-time data has up-to-date information designed to make decisions in seconds and trigger immediate action.
What is the difference between Business Intelligence and Active Intelligence?
So, what differentiates traditional Business Intelligence from Active Intelligence? Business Intelligence uses preconfigured datasets and is designed to inform rather than to make quick decisions. Active Intelligence, on the other hand, is based on continuous intelligence from real-time data and is designed to trigger immediate actions.
Another difference is that traditional Business Intelligence lacks a managed, end-to-end data pipeline with the ability to leverage automation to produce up-to-date business data. Active Intelligence establishes an intelligent data analysis pipeline that enables dynamic business content and logic.
Also read: Using artificial intelligence to solve problems for our customers.
5 benefits of Active Intelligence
Active Intelligence closes the gap between what is happening in the business right now and the information and insights you have available. As a result, Active Intelligence creates a massive opportunity to increase innovation, accelerate value and sharpen competitive advantage.
There are many benefits of Active Intelligence. With Active Intelligence, organisations can:
- Become aware of, and react immediately to trends, contexts and changes in the business and in the market
- Make necessary adjustments in strategy, processes and digital products from one minute to the next
- Collaborate beyond historical barriers by making data available to everyone in the business
- Improve business results by increasing the agility and efficiency of work processes and business offerings
- Build trust in the insights that are revealed and make quick decisions
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