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Part - VIII
Business Intelligence System (BIS), OLAP and Data Mining platforms form the backbone of "informed" decision-making support capability that is now vital to company managers who wish to secure a real competitive advantage from the data in their possession.
By using specific, verticalized IT tools (BIS and OLAP), management can deliberately steer the company by acting on four basic levers: Economic/Financial, Strategic Processes, Internal People Training and Growth, and Customer Satisfaction.
Knowledge Management
The "core" of KM involves the acquisition, explication, and communication of mission-specific professional expertise in a manner that is focused and relevant to an organizational participant who receives the communication. The cost of setting up a KM infrastructure is quite large, especially for big organizations. However, the benefits far outweigh the costs in the long term.
IT Management Models
Most corporations adopt one I.T. management model based on their own priorities and strategies, but some use a hybrid approach, separating the scale-intensive functions from the value-oriented ones. The differences between approaches are clear: -
Cost Model
The cost model requires a commitment to maintaining an operating environment that relies on mature hardware, software and network architecture, with proven products that are stable and well understood by the staff.
Value Model
The value model is predicated on meeting the specific needs of the business community, often trading cost efficiency for new capability-building activities. In this model, business executives either wield a great deal of influence or control their own I.T. funding and resources.
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* Contributed by -
Siddharth Mohan Patnaik, B.Tech. (Electronics),
Ravulpathi Janaki, B.Tech. (Mechanical),
II Year, IIM Lucknow.
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