Fordham University            The Jesuit University of New York
 


What is Business Intelligence?

Business Intelligence at Fordham University is the culmination of the Confirmare process.
It sets the stage for BI to become Fordham’s information trust center and laboratory for institutional discovery.
1. Enable the Transforming & Supporting Initiatives from Fordham’s strategic plan “Toward 2016.”
2. Capstone of the Confirmare activities – “Implement BI including dashboards, ad hoc reports and data mining.”
3. Confirmare's second meaning, to embolden; to persuade and to confirm the truth, is the foundation of BI.
4. Confirmare's BI approach enables Fordham "to reclaim its position as the premier Catholic university in the nation.”

Great BI solutions support known, repetitive questions but also engage the user in asking unknown questions as a result of data observation over time, or in an intuitive leap.
   
Because it’s based on reliable data, Business Intelligence can become a predictor of future behavior – looking at patterns that emerge over time and finding commonalities across data, organizations, time. Instead of knowing what the connections are based on what you already know, you can notice patterns and let the correlations emerge. This is the difference between deductive and inductive reasoning.

Deductive reasoning begins with a hypothesis and goes looking for the data to support it. Inductive reasoning ramps up curiosity and tolerance for ambiguity, and allows the user to question and wonder about correlations. BI allows for both deductive and inductive reasoning, and increases profitable inductive reasoning over time.
Deductive Reasoning begins with an idea and goes down from theory to proof through observation.

Inductive Reasoning begins with an idea gleaned from observation and moves up toward theory.


 
 

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