What is business intelligence
Business intelligence (BI) is a technology-driven process for analyzing data and presenting actionable information to help corporate executives, business managers and other end users make more informed business decisions.
BI encompasses a variety of tools, applications and methodologies that enable organizations to collect data from internal systems and external sources, prepare it for analysis, develop and run queries against the data, and create reports, dashboards and data visualizations to make the analytical results available to corporate decision makers as well as operational workers.
Tools and systems play a key role in the strategic planning process within a corporation
BI will become more entity-centric.
Data Collection – The First Step of Business Intelligence
Data becomes information after it has been processed to add context, relevance and purpose. Most companies collect a large amount of data from their business operations.
The ability to analyze and act on data is increasingly important to businesses. The pace of change requires companies to be able to react quickly to changing demands from customers and environmental conditions. Although prompt action may be required, decisions are increasingly complex as companies compete in a global marketplace. Managers may need to understand high volumes of data before they can make the necessary decisions. Effective business intelligence (BI) tools assist managers with decision making.
Our tool is one of BI tools that helps you get the right data.