Business Intelligence - Explained
What is Business Intelligence?
Written by J. Mance Gordon
Updated at April 22nd, 2024
- Marketing, Advertising, Sales & PR
- Accounting, Taxation, and Reporting
- Professionalism & Career Development
-
Law, Transactions, & Risk Management
Government, Legal System, Administrative Law, & Constitutional Law Legal Disputes - Civil & Criminal Law Agency Law HR, Employment, Labor, & Discrimination Business Entities, Corporate Governance & Ownership Business Transactions, Antitrust, & Securities Law Real Estate, Personal, & Intellectual Property Commercial Law: Contract, Payments, Security Interests, & Bankruptcy Consumer Protection Insurance & Risk Management Immigration Law Environmental Protection Law Inheritance, Estates, and Trusts
- Business Management & Operations
- Economics, Finance, & Analytics
- Courses
What is Business Intelligence (BI)?
Business intelligence is the methodological and technical infrastructure for the collection, storage, and analysis of data resulting from the company's undertakings.
Business Intelligence includes data search, process analysis, benchmarking of performance, descriptive analytics and other data related processes that influence the managerial decisions in a company.
How does Business Intelligence (BI) Work?
Business Intelligence involves the use of software to undertake the company's data unification and analysis.
Besides software solutions, there is a need for data scientist specialist to ensure the balance responsibility between speed and reporting depth.
Higher speed, reporting and analysis accuracy, higher data quality, more satisfaction from employees, profitability and sound decision making within the company are some benefits of business intelligence.