Business Intelligence 2.0 (BI 2.0) is a development of the existing

business intelligence Business intelligence (BI) consists of strategies, methodologies, and technologies used by enterprises for data analysis and management of business information. Common functions of BI technologies include Financial reporting, reporting, online an ...

model that began in the mid-2000s, where data can be obtained from many sources. The process allows for querying real-time corporate data by employees but approaches the data with a

web browser A web browser, often shortened to browser, is an application for accessing websites. When a user requests a web page from a particular website, the browser retrieves its files from a web server and then displays the page on the user's scr ...

-based solution. This is in contrast to previous proprietary querying tools that characterized previous BI software.

Overview

The growth in

service-oriented architecture In software engineering, service-oriented architecture (SOA) is an architectural style that focuses on discrete services instead of a monolithic design. SOA is a good choice for system integration. By consequence, it is also applied in the field ...

s (SOA) is one of the main factors for the development of BI 2.0, which is intended to be more flexible and adaptive than normal business intelligence.

Data exchange Data exchange is the process of taking data structured under a ''source'' schema and transforming it into a ''target'' schema, so that the target data is an accurate representation of the source data. Data exchange allows data to be shared between ...

processes also differ, with

XBRL XBRL (eXtensible Business Reporting Language) is a freely available global framework for exchanging business information. XBRL allows the expression of semantics commonly required in business reporting. The standard was originally based on X ...

(Extensible Business Reporting Language),

Web Service A web service (WS) is either: * a service offered by an electronic device to another electronic device, communicating with each other via the Internet, or * a server running on a computer device, listening for requests at a particular port over a n ...

s , and various

Semantic Web The Semantic Web, sometimes known as Web 3.0, is an extension of the World Wide Web through standards set by the World Wide Web Consortium (W3C). The goal of the Semantic Web is to make Internet data machine-readable. To enable the encoding o ...

ontologies In information science, an ontology encompasses a representation, formal naming, and definitions of the categories, properties, and relations between the concepts, data, or entities that pertain to one, many, or all domains of discourse. More ...

enabling the use of data external to an organization, such as

benchmarking Benchmarking is the practice of comparing business processes and performance metrics to industry bests and best practices from other companies. Dimensions typically measured are Project management triangle, quality, time and cost. Benchmarking is ...

-type information. In addition, BI 2.0 facilitates the integration of real-time data, allowing businesses to react to market changes more swiftly than traditional systems. This has made BI 2.0 particularly valuable in industries requiring rapid decision-making, such as finance and e-commerce. Business Intelligence 2.0 is believed to have been named after Web 2.0, although it takes elements from both Web 2.0 (a focus on user empowerment and community collaboration, technologies like

RSS RSS ( RDF Site Summary or Really Simple Syndication) is a web feed that allows users and applications to access updates to websites in a standardized, computer-readable format. Subscribing to RSS feeds can allow a user to keep track of many ...

, and the concept of mashups), and the

, sometimes called "Web 3.0" (

semantic integration Semantic integration is the process of interrelating information from diverse sources, for example calendars and to do lists, email archives, presence information (physical, psychological, and social), documents of all sorts, contacts (including ...

through shared ontologies to enable easier exchange of data). According to analytics expert Neil Raden, BI 2.0 also implies a move away from the standard

data warehouse In computing, a data warehouse (DW or DWH), also known as an enterprise data warehouse (EDW), is a system used for Business intelligence, reporting and data analysis and is a core component of business intelligence. Data warehouses are central Re ...

that business intelligence tools have used, which "will give way to context, contingency, and the need to relate information quickly from many sources."

Overview

See also

People

References

Further reading

Interviews