Areas

6 Key Areas of Business Intelligence in the New Era

Image by Qimono from Pixabay (CC0)
Stephanie Shen

Back in 1958, Han Peter Luhn, a researcher at IBM, initiated the concept of Business Intelligence (BI), using the definition from Webster’s Dictionary: to apprehend the interrelationships of presented facts in such a way as to guide action towards a desired goal. Given its definition, Business Intelligence is indeed a vision. It should not be represented by the tools or technologies designed at some given time. In other words, it should be viewed as a company’s strategic vision for transforming data assets into business insights to make data-driven decisions.

Historically, there were two eras that revolutionized and popularized the concept of Business Intelligence. The first was in the 1980s when relational database was invented and became the mainstream tool for data collection and data storage. Database, along with SQL, enabled businesses to access information more quickly to make business decisions based on current facts

Read More

Why Are Some Geographic Areas So Entrepreneurial?

Entrepreneurs are people who sacrifice the security of a regular paycheck for the freedom and flexibility to build their own business. Be they empire-generating gurus like Steve Jobs or lesser-known, self-employed freelance writers, why do some individuals forego traditional business structures to branch out on their own?

Workplace peers are one important influence, say researchers. Those who work with former entrepreneurs are more likely to start their own businesses.

Analyzing comprehensive labor census data from Denmark, Jesper Sørensen of Stanford Graduate School of Business and Ramana Nanda of the Harvard Business School found that those who became first-time entrepreneurs between 1990 and 1997 were more likely to have worked with colleagues who formerly owned their own companies or independent businesses.

“Although the data isn’t refined enough to tell us precisely, we think this suggests that sometimes all it takes to become motivated to be an entrepreneur is to have a

Read More