Cognitive Business Operations

This is perhaps the single domain that has been deeply impacted by cognitive analytics already. Cognitive businesses are those that use cognitive analytics for both operational management and strategic decision making. The primary thrust is on extracting information from natural language texts and combining it with structured data. Cognitive analytics uses are vast and varied. It has been used to improve workflow processes, detecting fraud before it happens, ensuring regulatory compliance, repurposing content, and knowledge management. Technology companies such as Google, Microsoft, LinkedIn, Facebook, and Netflix have already incorporated cognitive analytics into their software products.

Whether we call it BI, data mining, big data, cognitive business or whatever, the business challenges for realising business value are the same:

1. Helping business executives, managers, and analytics in companies to sort through the confusing array of terminology to understand what is real, what is hype, and how to leverage data throughout the enterprise to improve business results.
2. Ensuring alignment between business strategies, the core business processes that execute the strategies and the use of BI to improve those core business processes-processes such as marketing, sales, customer service, and operations that ultimately determine the economic results for the business.
3. Managing the complex organisational; factors that determine how effectively BI applications are developed and how effectively are adopted within business processes to increase revenues, reduce costs, or both.