Thursday, June 05, 2008

Real-Time Business Analytics

A new discovery about the human brain gives us a good insight in how to improve real-time business analytics and predictive modeling. The discovery is that the brain compensates the neural lag that everyone experiences by giving us a glimpse of events one-tenth of a second before they occur. See Key to All Optical Illusions Discovered. The brain predicts what is going to occur based on available data and experience. See The Attention System of the Human Brain. Imagine the implication for the financial services industry. Banks, investment banks, and brokerage houses could profit or lose billions during stocks and commodities trading, if they had a one-tenth advantage over their competitors. See Financial Services Business Analytics: Evidence-Based Model. Envision a system that reminds customers about an item that they may have forgotten before leaving the store in the retail industry. Also, picture a system that reminds network administrators to check a specific system, server, or pathway. Depict a system that reminds physicians to check for the symptoms of a specific disease, recommend a particular test, or reminds a surgeon to check a particular area of the body.

In an interdependent and continuously changing global economy, companies need to accurately forecast and anticipate trends. Companies must use the latest advances in science, technology, and business to gain leverage and improve profitability. See Intersection of Business, Science, and Technology: Business Analytics; and Business Analytics Technique: Borrowing From Medical Imaging at

The advances in technology and sciences allow these tools to be implemented rapidly and in a cost efficient manner. See High Performance Computing (HPC) is Changing the World; HP Delivers Real-time Business Information with Enhanced Neoview Capabilities; and Business Competency Model: Turning Around in a Quarter.

Business Analytics: Unleashing the Power of the Mind™

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