Kingo had reached early and he asked his friends “What is the difference between Business Analytics and MIS? My manager asked me to find out the difference and use Business Intelligence to improve marketing strategies.”. Prabha who had a done a project on this area was quick on the reply, “MIS is analysing your past performance and planning for the future using internal data. Business Intelligence uses lots of external data and correlates your performance with companies in similar business to evaluate our performance.
Kaushik always loved these business discussions and how he could relate almost every item to Bridge. He remarked, “MIS is analysing and taking decisions based on bidding, cards played and other information available on the deal in play. Business Analytics is using external data like say a 4432 distribution is more likely that a 4333.”.
Padma, who is habitual reader had done a lot of reading on this subject said, “the future of business is analysing data and applying it to your environment. There is so much data available that one has to build the right models and use them. I am certain that Bridge also used some techniques like this – how does one explain some paradigm shifts in the world of Bridge – olden days one would make jump bids to show good hands, now it is the reverse. When doubles evolved, it was meant as penalty but now experts have found various ways of using Doubles to show various types of hands”
Kaushik said, “Systems have been evolving in Bridge all the time. XYZ was a recent addition and the latest addition to bidding gadgets I am hearing is something called the last train – used by bidding a strain below agreed suit as last-ditch effort to check if slam is possible”. Prabha added “if you look at carding as an example – using small cards for showing positive attitude can also be seem as a product of analytics which based on the theory why waste high cards for signalling”
Kingo concluded saying that people say data is the new “oil” in business. Just as petroleum products used to be a key factor in industries planning their future, the planning is now based on data. Everyone concluded that the world of data analytics is huge and as technology evolves as systems catch our behavioural patterns, they will keep us busy with data in our areas of interest
Tailpiece:
Goofy was content and happy that internet, mobile technology has come and everyone is always staring at their mobiles and leaving him to enjoy life by doing things he wants to do
