How
Contextual Awareness Is Redefining Business Intelligence
by Lisa Morgan informationweek.com
Contextual analysis, with the help of mobile
devices and the Internet of Things, is giving businesses the data they need to
reach individuals in relevant and meaningful ways.
Organizations commonly use
enterprise BI solutions and analytics to answer important "what"
questions, such as what's happened, what's happening now, and what's likely to
happen in the future. But the critical missing piece is often why.
Contextual
analysis helps answer the "why" questions. With it, organizations are
gaining deeper insight into the behavior of their customers, employees,
equipment, situations, and trends. Marketers can deliver relevant messages and
user experiences, and business leaders can make accurate decisions. Although
contextual analysis isn't a new concept, it's being applied to a variety of
cases to improve bottom-line performance.
"Context is the key to
everything human beings do. Where you are at the moment dominates and directs
every decision we make," said Margaret King, director of The Center for Cultural Studies & Analysis,
in an interview.
Mobility
and the Internet of Things are fueling interest in contextual analysis. Sensors
can collect additional pieces of information that help explain a person, place,
thing, or situation in greater detail. More generally, interest in contextual
analysis is being driven by competitive pressures -- the ability to win and
keep customers, reduce costs, and drive more revenue. In fact, contextual
analysis is impacting everything from hedge funds and lawsuits to public safety
and risk management.
Contextual
analysis can help organizations better understand why certain things are
happening, not happening, or happening not in the way anticipated. Of course,
what qualifies as relevant context varies based on the use-case, the
environment, and the particular circumstances.
Otherwise,
it's only adding noise. Here are a few ways context is improving the quality of
intelligence in different industries. Once you're reviewed these examples, tell
us in the comments section below whether you've started to apply contextual
analysis to your business intelligence. And, if not, what are the obstacles
standing in your way?
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