Visual Business Intelligence (VBI) is knowledge based on the application of visual data to a business problem or opportunity.
The process of visual business intelligence starts with the collection of visual data which is analyzed to create unique information. This information becomes knowledge when it is applied to a business problem or opportunity. For example, visual data is collected from a retail store (the number of customers who enter an area of interest, the time they spend there and what direction they traveled). This data is analyzed and becomes information (the answer to a simple question such as how long are people waiting in line?). In turn it becomes knowledge (the application of the data to business such as reducing wait times and decreasing departures by opening additional cash registers between 11am and 2PM on weekends or when more than five people are waiting in line). The opportunity then exists to move further to forecast and even model physical customer behavior.
“The retail industry has only begun to tap the capabilities of visual business intelligence. I see a future where we wonder how anyone operated any size retail store without some level of VBI as part of their day to day business decision making.” -Martin Renkis Smartvue Corporation
Famous quotes containing the words visual, business and/or intelligence:
“For women ... bras, panties, bathing suits, and other stereotypical gear are visual reminders of a commercial, idealized feminine image that our real and diverse female bodies can’t possibly fit. Without these visual references, each individual woman’s body demands to be accepted on its own terms. We stop being comparatives. We begin to be unique.”
—Gloria Steinem (b. 1934)
“What makes this Generation of Vermin so very Prolifick, is the indefatigable Diligence with which they apply themselves to their Business. A Man does not undergo more watchings and fatigues in a Campaign, than in the Course of a vicious Amour. As it is said of some Men, that they make their Business their Pleasure, these Sons of Darkness may be said to make their Pleasure their Business. They might conquer their corrupt Inclinations with half the Pains they are at in gratifying them.”
—Joseph Addison (1672–1719)
“Since an intelligence common to us all makes things known to us and formulates them in our minds, honorable actions are ascribed by us to virtue, and dishonorable actions to vice; and only a madman would conclude that these judgments are matters of opinion, and not fixed by nature.”
—Marcus Tullius Cicero (106–43 B.C.)