Business intelligence and predictive analytics (BI&PA) has emerged as an important area of study for both practitioners and researchers, reflecting the magnitude and impact of data-related problems to be solved in contemporary business organizations.
Business intelligence and Predictive analytics (BI&PA) and the related field of big data analytics have become increasingly important in both the academic and the business communities over thepast two decades.
Industry studies have highlighted this significant development. For example, based on a survey of over 4,000 information technology (IT) professionals from 93
countries and 25 industries, identified business analytics as one of the four major technology trends in the 2010s.
countries and 25 industries, identified business analytics as one of the four major technology trends in the 2010s.
In a survey of the state of business analytics by Bloomberg Businessweek, 97 percent of companies with revenues exceeding $100 million were found to use some form of business analytics.
A report by the McKinsey Global Institute predicted that by 2018, the United States alone will face a shortage of 140,000 to 190,000 people with deep analytical skills,
as well as a shortfall of 1.5 million data-savvy managers with the know-how to analyze big data to make effective decisions.
as well as a shortfall of 1.5 million data-savvy managers with the know-how to analyze big data to make effective decisions.
Hal Varian, Chief Economist at Google and emeritus professor at the University of California, Berkeley, commented on the emerging opportunities for IT professionals and students in data analysis as follows:
So what’s getting ubiquitous and cheap? Data. And what is complementary to data? Analysis. So my recommendation is to take lots of courses about howto manipulate and analyze data: databases, machine learning, econometrics, statistics, visualization, and so on.
The opportunities associated with data and analysis in different organizations have helped generate significant interest in BI&PA, which is often referred to as the techniques, technologies, systems, practices, methodologies, and applications that analyze critical business data to help an enterprise better understand its business and market and make timely business decisions.
In addition to the underlying data processing and analytical technologies, BI&PA includes business-centric practices and methodologies that can be applied to various high-impact applications such as e-commerce, business intelligence, e-government, healthcare, and security.
This introduction to the MIS Quarterly Special Issue on Business Intelligence Research provides an overview of this exciting and high-impact field, highlighting its many challenges
and opportunities.
and opportunities.
However, this including BI&PA evolution, applications, andemerging analytics research opportunities. We then report on a bibliometric study of critical BI&AP publications, researchers, and research topics based on more than a decade
of related BI&AP academic and industry publications.
of related BI&AP academic and industry publications.
BI&PA Evolution: Key Characteristics And Capabilities
The term intelligence has been used by researchers in artificial intelligence since the 1950s. Business intelligence became a popular term in the business and IT communities only in the 1990s. In the late 2000s, business analytics wasintroduced to represent the key analytical component in BI.
More recently big data and big data analytics have been used to describe the data sets and analytical techniques in applications that are so large (from terabytes to exabytes) and complex (from sensor to social media data) that they require advanced and unique data.
The decade of the 2010s promises to be an exciting one forhigh-impact BI&PA research and development for both industry and academia. The business community and industry havealready taken important steps to adopt BI&PA for their needs.
The IS community faces unique challenges and opportunities in making scientific and societal impacts that are relevant and long-lasting. IS research and education programs need to carefully evaluate future directions, curricula, and action plans, from BI&PA 1.0 to 3.0
Business intelligence and predictive analytics (BI&PA) has emerged as an important area of study for both practitioners and researchers, reflecting the magnitude and impact of data-related problems to be solved in contemporary business organizations
Business intelligence and Predictive analytics (BI&PA) and the related field of big data analytics have become increasingly important in both the academic and the business communities over the past two decades.
Industry studies have highlighted this significant development. For example, based on a survey of over 4,000 information technology (IT) professionals from 93 countries and 25 industries, identified business analytics as one of the four major technology trends in the 2010s.
In a survey of the state of business analytics by Bloomberg Businessweek, 97 percent of companies with revenues exceeding $100 million were found to use some form of business analytics.
A reportby the McKinsey Global Institute predictedthat by 2018, the United States alone will face a shortage of 140,000 to 190,000 people with deep analytical skills, as well as a shortfall of 1.5 million data-savvy managers with the know-how to analyze big data to make effective decisions.
Hal Varian, Chief Economist at Google and emeritus professor at the University of California, Berkeley, commented on the emerging opportunities for IT professionals and students in data analysis as follows:
So what’s getting ubiquitous and cheap? Data. And what is complementary to data? Analysis. So myrecommendation is to take lots of courses about howto manipulate and analyze data: databases, machine learning, econometrics, statistics, visualization, and so on.
The opportunities associated with data and analysis in different organizations have helped generate significant interest in BI&PA, which is often referred to as the techniques, technologies, systems, practices, methodologies, and applications that analyze critical business data to help an enterprise betterunderstand its business and market and make timely business decisions.
In addition to the underlying data processing and analytical technologies, BI&PA includes business-centric practices and methodologies that can be applied to various high-impact applications such as e-commerce, business intelligence,e-government, healthcare, and security.
This introduction to the MIS Quarterly Special Issue on Business Intelligence Research provides an overview of this exciting and high-impact field, highlighting its many challenges
and opportunities.
and opportunities.
However, this including BI&PA evolution, applications, andemerging analytics research opportunities. We then report on a bibliometric study of critical BI&PA publications, researchers, and research topics based on more than a decade of related BI&PA academic and industry publications.
BI&PA Evolution: Key Characteristics And Capabilities
The term intelligence has been used by researchers in artificial intelligence since the 1950s. Business intelligence became a popular term in the business and IT communities only in the 1990s. In the late 2000s, business analytics was introduced to represent the key analytical component in BI.
More recently big data and big data analytics have been used to describe the data sets and analytical techniques in applications that are so large (from terabytes to exabytes) and complex (from sensor to social media data) that they require advanced and unique data.
The decade of the 2010s promises to be an exciting one forhigh-impact BI&PA research and development for both industryand academia. The business community and industry havealready taken important steps to adopt BI&PA for their needs.
The IS community faces unique challenges and opportunities in making scientific and societal impacts that are relevant and long-lasting. IS research and education programs need to carefully evaluate future directions, curricula, and action plans, from BI&PA 1.0 to 3.0
BI&PA Applications: From Big Data To Big Impact
Several global business and IT trends have helped shape past and present BI&PA research directions. International travel, high-speed network connections, global supply-chain, and
outsourcing have created a tremendous opportunity for IT advancement, as predicted by Thomas Freeman
outsourcing have created a tremendous opportunity for IT advancement, as predicted by Thomas Freeman
In addition to ultra-fast global IT connections, the development and deployment of business-related data standards, electronic data interchange (EDI) formats, and business databases and information systems have greatly facilitated business data creation and
utilization.
utilization.
The development of the Internet in the 1970s and the subsequent large-scale adoption of the World Wide Web since the 1990s have increased business data generation andcollection speeds exponentially. Recently, the Big Data era has quietly descended on many communities, from governmentsand e-commerce to health organizations.
With an overwhelming amount of web-based, mobile, and sensorgenerated data arriving at a terabyte and even exabyte scale (The Economist 2010a, 2010b), new science, discovery, and insights can be obtained from the highly detailed, contextualized, and rich contents of relevance to any business or organization.
In addition to being data driven, BI&PA is highly applied and can leverage opportunities presented by the abundant data and domain-specific analytics needed in many critical and highimpact application areas.
Several of these promising and high-impact BI&PA applications are presented below, with a
discussion of the data and analytics characteristics, potential impacts, and selected illustrative examples or studies:
(1) ecommerce and market intelligence,
(2) e-government and politics 2.0,
(3) science and technology,
(4) smart health and well-being, and
(5) security and public safety.
discussion of the data and analytics characteristics, potential impacts, and selected illustrative examples or studies:
(1) ecommerce and market intelligence,
(2) e-government and politics 2.0,
(3) science and technology,
(4) smart health and well-being, and
(5) security and public safety.
By carefully analyzing the application and data characteristics, researchers and Practitioners can then adopt or develop the appropriate analytical techniques to derive the intended impact.
In addition to technical system implementation, significant business or domain knowledge as well as effective communication skills are needed for the successful completion of such BI&PA projects.
IS departments thus face unique opportunities and challenges in developing integrated BI&PA research and education programs for the new generation of data/analytics savvy and business-relevant students and professionals
Data to Big Impact Several global business and IT trends have helped shape past
and present BI&A research directions. International travel, high-speed network connections, global supply-chain, and outsourcing have created a tremendous opportunity for IT advancement, as predicted by Thomas Freeman
and present BI&A research directions. International travel, high-speed network connections, global supply-chain, and outsourcing have created a tremendous opportunity for IT advancement, as predicted by Thomas Freeman
In addition to ultra-fast global IT connections, the development and deployment of business-related data standards, electronic data interchange(EDI) formats, and business databases and information systems have greatly facilitated business data creation and
utilization.
utilization.
The development of the Internet in the 1970s and the subsequent large-scale adoption of the World Wide Web since the 1990s have increased business data generation andcollection speeds exponentially.
Recently, the Big Data era has quietly descended on many communities, from governmentsand e-commerce to health organizations.
With an overwhelming amount of web-based, mobile, and sensorgenerated data arriving at a terabyte and even exabyte scale (The Economist 2010a, 2010b), new science, discovery, and insights can be obtained from the highly detailed, contextualized,and rich contents of relevance to any business or organization.
In addition to being data driven, BI&PA is highly applied and can leverage opportunities presented by the abundant data and domain-specific analytics needed in many critical and high impact application areas. Several of these promising and high-impact BI&PA applications are presented below, with a discussion of the data and analytics characteristics, potential impacts, and selected illustrative examples or studies:
(1) E-commerce and market intelligence,
(2) E-government and politics 2.0,
(3) Science and technology,
(4) Smart health and well-being, and
(5) Security and public safety.
(1) E-commerce and market intelligence,
(2) E-government and politics 2.0,
(3) Science and technology,
(4) Smart health and well-being, and
(5) Security and public safety.
By carefully analyzing the application and data characteristics, researchers
and practitioners can then adopt or develop the appropriate analytical techniques to derive the intended impact.
and practitioners can then adopt or develop the appropriate analytical techniques to derive the intended impact.
In addition to technical system implementation, significant business
or domain knowledge as well as effective communication skills are needed for the successful completion of such BI&PA projects.
or domain knowledge as well as effective communication skills are needed for the successful completion of such BI&PA projects.
IS departments thus face unique opportunities and challenges in developing integrated BI&PA research and education programs for the new generation of data/analytics savvy and business-relevant students and professionals.
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