Saturday, November 11, 2006

Technology only as Good as Human Endeavour

At least till today technology ( AI Artificial Intelligence ) has been unable to replace a seasoned and experienced human mind. So let me tell you, we have Business Intelligence ( BI ), DSS ( Decision Support System), and MIS ( Management Information System ). We also have Expert Systems. All these systems generate solutions to a given particular business problem but the part of choosing the best solution and implemanting it is left at the mercy of a human mind. Such is the divinity of a human being. All these system help you to avoid the lengthy and time consuming process of computing and analysing data for trends. So you are left with accurate data and ample of time to take timely decisions. But then you should be experinced and seasoned businessman to understand the relevance and importance of the data and take suitable action.

So all KM ( Knowledge Management ) tools can be used to take a particular action. The implementation of decision is for what Human Recources, Technology and team work are required. Project implementation can be done only by an organisation of resources and people. For example a data warehouse was created, which was producing 10 TB of data every week, then using Data Mining and BI you found out that out of 5 product categories of your company, only one category itself was contributing 80 % growth p.a. . The other categories were producing 10 % growth p.a. and one category was in loss. You have the data instantly, at the end of a quarter.

So now you can take a decision to introduce new models of products in the category showing 80% growth, as it would possibly take off. You may discontinue the loss making product or make it a point to continue offering the product category if you want to offer the complete boquet of Products to your customer or take advantage of tax planning.

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