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About Business Intelligence  |
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Business intelligence is a set of concepts, methods and processes to improve business
decisions using information from multiple sources and applying experience and
assumptions to develop an accurate understanding of business dynamics. It is the
gathering, management and analysis of data to produce information that is distributed
to people throughout the organization to improve strategic and tactical decisions.
Business intelligence involves the integration of core information with relevant contextual
information to detect significant events and illuminate cloudy issues. It includes the ability
to monitor business trends, to evolve and adapt quickly as situations change and to
make intelligent business decisions on uncertain judgments and contradictory
information. It relies on exploration and analysis of unrelated information to provide
relevant insights, identify trends, discover opportunities, take proactive decisions and
create value.
A key aspect of BI is that first word: "business." More than any other technology, BI
succeeds when the business side is intimately involved in determining what will
constitute the "intelligence" that IT can produce. BI decision support and analytic
applications help facilitate:
- Multidimensional Analysis
- Data Mining
- Forecasting
- Business Analysis
- Visualization
- Querying & Reporting
- Knowledge Management
- Balance Scorecard Preparation
- Digital Dashboard Preparation
- Enterprise Portal Implementation
BI decision support database include the following:
- Enterprise-wide Data Warehouses
- Functional & Departmental Data Marts
- Operational Data Stores
- Web Data Warehouses
- Data Mining Databases
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