So what exactly is Business Intelligence?
Business intelligence - from Wikipedia, the free encyclopedia
Business intelligence (BI) refers to skills, knowledge, technologies, applications and practices used to help a business to acquire a better understanding of the market behavior and business context. For this purpose it employs collection, integration, analysis, interpretation and presentation of business information. In simplified meaning it may refer to the collected information itself or the explicit knowledge developed from the information.
BI applications provide historical, current, and predictive views of business operations, most often using data that has been gathered into a data warehouse or a data mart and occasionally working from operational data. Software elements support the use of this information by assisting in the extraction, analysis, and reporting of information. Common functionality of Business Intelligence Applications include Reporting , OLAP , Analytics, Dashbooards , Scorecards , Data Mining , Corporate Performance Management (CPM) and Predictive Analysis.
BI Applications tackle sales, production, financial, and many other sources of business data for purposes that include, notably, business performance management. Information may be gathered on comparable companies to produce benchmarks.
The purpose of business intelligence--a term that dates at least to 1958--is to support better business decision making.[1] Thus, BI system is also described as a decision support system (DSS):[2] BI is sometimes used interchangeably with briefing books, report and query tools and executive information systems. In general, business intelligence systems are data-driven DSS.
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