Business Intelligence (BI) refers to skills, processes, technologies, applications and practices used to support decision making. Any information that pertains to the history, current status or future projections of a business organization. Systems that provide directed background data and reporting tools to support and improve the decision-making process. Reporting and analysis of data stored in the data warehouse. This term (also known in industry-speak as "BI") speaks broadly of the collection of tools used to provide insights into the business. a popularized, umbrella term used to describe a set of concepts and methods to improve business decision making by using fact-based support systems. The term is sometimes used interchangeably with briefing books and executive information systems.
Business Intelligence is a broad category of applications and technologies for gathering, storing, analyzing, and providing access to data to help clients make better business decisions. A system that collects, integrates, analyses and presents business information to support better business decision making. Business intelligence is a method of storing and presenting key enterprise data so that anyone in your company can quickly and easily ask questions of accurate and timely data. Business Intelligence is an environment in which business users receive information that is reliable, secure, consistent, understandable, easily manipulated and timely.
Business intelligence (BI) refers to computer-based techniques used in spotting, digging-out, and analyzing business data, such as sales revenue by products and/or departments or associated costs and incomes. BI technologies provide historical, current, and predictive views of business operations. Common functions of Business Intelligence technologies are reporting, online analytical processing, analytics, data mining, business performance management, benchmarking, text mining, and predictive analytics.
Business Intelligence often aims to support better business decision-making. Thus a BI system can be called a decision support system (DSS).Though the term business intelligence is often used as a synonym for competitive intelligence, because they both support decision making, BI uses technologies, processes, and applications to analyze mostly internal, structured data and business processes while competitive intelligence, is done by gathering, analyzing and disseminating information with or without support from technology and applications, and focuses on all-source information and data (unstructured or structured), mostly external, but also internal to a company, to support decision making.
Business intelligence is a broad field of study. The major thrust of business intelligence theory looks at certain factors to make high quality decisions. These factors include customers, competitors, business partners, economic environment and internal operations. Business intelligence (BI) simplifies information discovery and analysis, making it possible for decision-makers at all levels of an organization to more easily access, understand, analyze, collaborate, and act on information, anytime and anywhere.
The term Business Intelligence (BI) represents the tools and systems that play a key role in the strategic planning process of the corporation. These systems allow a company to gather, store, access and analyze corporate data to aid in decision-making. Business Intelligence is a process for increasing the competitive advantage of a business by intelligent use of available data in decision making.
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