What is Business Intelligence (BI)
We can see lot of definition for same term Business Intelligence across the World Wide Web. My favorite definition is from WIKI.
For me, Business Intelligence provides best facts and information out of huge data which helps in making decisions in an organization.
To explain more on my definition of BI,
- It provide Analytical foundation on data from the base level i.e. huge lump of scattered organizational data
- It extracts most important information and analytic facts using same Analytical foundation
- Represent the information and facts in such a manner that help decision makers (managers, CEO and people at different level of organization).
Quite simple right, but still the Intelligence behind extracting accurate and useful information is what makes it best upcoming technologies for all kind of Businesses.
Let’s take a look on few examples where people need BI:
- As a Marketing Manager of Software company, needs to know which places require more promotion
- As Financial Manager I need to know more promising locations for investing on real state
- As a Sales person I need to know best time of year to sell my product
And I can go on and on, on how each field of any business requires a system which helps in analysis and providing information based on historical data, for improvement.
So, information output of BI is always in different reports, analytical facts, alerts, dashboard, scorecards etc.
Processes involve in a BI end to end solutions at a glimpse:
- Integrate the data from different sources, on which analytics is required
- Prepare analytical foundation for BI Engagement
- Represent analytics and decision making information by reports, dashboards, scorecards
Posted on September 26, 2012, in Begin BI and tagged BI in detail, business, Business Intelligence, Definition of BI, enterprise-it, Example on Business Intelligence, MS BI, Processes of BI, What is BI, What is Business Intelligence. Bookmark the permalink. 2 Comments.