A Knowledge Management Approach for Real-Time Business Intelligence

Innovation and globalization have generated tremendous opportunities and choices in the marketplace for enterprises and customers, the approach to business management across the entire globe has deeply changed. Traditional business intelligence concept that integrates and consolidates information in an organization in order to support firms that are service oriented and seeking customer loyalty and retention, but traditional BI cannot fulfil the requirements of dynamic markets completely. According to this conditions, many firms seek to real-time business intelligence concept to solve the facing problems. In the meantime, owing to analysis and action latency not fully recognized, real-time business intelligence is not completely utilize massive data to help organizations gain competitive advantages. In order to overcome these disadvantages in organizations effectively, this paper proposes a novel model employing knowledge management in data mining process to reduce data, analysis and action latency of real-time business intelligence.