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Business Intelligence & Knowledge Management - Technological Support for Strategic Management in the Knowledge Based Economy

Author(s): Felicia ALBESCU | Irina PUGNA | Dorel PARASCHIV

Journal: Informatica Economica Journal
ISSN 1453-1305

Volume: XII;
Issue: 4;
Start page: 5;
Date: 2008;
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Keywords: business intelligence | knowledge management | competitive intelligence | public data-sources | strategic management

The viability and success of modern enterprises are subject to the increasing dynamic of the economic environment, so they need to adjust rapidly their policies and strategies in order to respond to sophistication of competitors, customers and suppliers, globalization of business, international competition. Perhaps the most critical component for success of the modern enterprise is its ability to take advantage of all available information - both internal and external. Making sense of all this information, gaining value and competitive advantage through represents real challenges for the enterprise. The IT solutions designed to address these challenges have been developed in two different approaches: structured data management (Business Intelligence) and unstructured content management (Knowledge Management). Integrating Business Intelligence and Knowledge Management in new software applications designated not only to store highly structured data and exploit it in real time but also to interpret the results and communicate them to decision factors provides real technological support for Strategic Management. Integrating Business Intelligence and Knowledge Management in order to respond to the challenges the modern enterprise has to deal with represents not only a "new trend" in IT, but a necessity in the emerging knowledge based economy. These hybrid technologies are already widely known in both scientific and practice communities as Competitive Intelligence. In the end of paper,a competitive datawarehouse design is proposed, in an attempt to apply business intelligence technologies to economic environment analysis making use of romanian public data sources.
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