Text-Driven Reasoning and Multi-Structured Data Analytics for Business Intelligence
Lipika Dey, Ishan Verma · Advances in business strategy and competitive advantage book series · 2014
Business Intelligence (BI) refers to an organization's capability to gather and analyze data about business operations and transactions in order to evaluate its performance. The abundance of information both within the enterprise and outside of it has necessitated a change in traditional Business Intelligence practices. There is a need to exploit heterogeneous resources. Text data like news, analyst reports, etc. helps in better interpretation of business data. In this chapter, the authors present a futuristic BI framework that facilitates acquisition, indexing, and analysis of heterogeneous data for extracting business intelligence. It enables integration of unstructured text data and structured business data seamlessly to generate insights. The authors propose methods that can help in extraction of events or significant happenings from both unstructured and structured data, correlate the events, and thereafter reason to generate insights. The insights extracted could be validated as cause-effect pairs based on the statistical significance of co-occurrence of events.