“An ounce of prevention is worth a pound of Cure” – Benjamin Franklin The entire businesses around the world are exposed to risk or disruptions whether it is from fire, equipment failure, natural disaster, communication failure, economy downturn or an act of terrorism. There can be hardly superior hazard to any organization than recession. The organizations experienced more disruptions than ever in the past years. These disruptions can ruin the organizations or make it difficult to survive. This is where Business Continuity Management (BCM) plays integral role to smoothly run the business without any interruption. Business Continuity Management is very important for the endurance of the business. Business Continuity Management is a method designed to ensure that the functions of an organization can be managed or restored promptly in the event of internal or external occurrence. One of the most important objectives of the BCM is to reduce the legal, Continue reading
Modern Business Concepts
The Five Stages of Business Intelligence
Business Intelligence is the process of transforming related business data into information, information into knowledge and with repetitive identification turning knowledge into Intelligence. Data: It is a raw data i.e. it represents reality, facts and figures. Information: It is a data that is processed and interpreted. Knowledge: After the information is processed, it becomes more sensible containing some meaning and understanding. Business Intelligence (BI) is a wide category of applications and technologies for collecting, storing, analyzing, and providing access to data to help the enterprise users make better decision making. BI applications supports the activities decision support systems, querying and reporting, online analytical processing (OLAP), statistical data analysis, forecasting and data mining. Some important definitions of Business Intelligence are: Business Intelligence is a set of methodologies, processes, architectures, and technologies that transform raw data into meaningful and useful information used to enable more effective strategic, tactical, and operational insights and Continue reading