Business intelligence, Business Intelligence (BI) as the

Business intelligence

Assignment Help Basic Computer Science

Reference no: EM132430598

Business Intelligence (BI) as the name says it is the integration of intelligence into business to make things done in a more productive and quality manner. Business Intelligence is termed as the integration of architectures, methodologies, applications, tools & technologies and contemporary databases (Sharda, R, 2015). The introduction of this term is very known as almost all the businesses throughout the ages uses techniques to maintain, run, grow businesses. Earlier businesses just use to see the historical data and make their decisions for the present, but after the latest tools and techniques in business intelligence now the business owners, CEO, managers can able to predict the upcoming demands, shortage of supply, need of manpower/hours, technical difficulties, performance issues, decision, etc.

Business Intelligence is a very broad term, it is the pivotal point for almost every tool, technique, methodologies. It is very dynamic and growing by collaborating with Artificial intelligence (AI) (Sharda, R, 2015). It comprised of databases, tools, performance management and user interaction platforms. To make business decisions, stakeholders have to look into the data ( Current/Historical/Predicted). These decisions are the backbone of any business. Based upon these decisions business will invest money, power and time. By the outcome of certain decisions, the business will earn a profit or they learn from their wrong business decisions.

Business owners need accurate information with supporting data to make decisions from time to time. The supporting data can be in many forms such as graphs, reports, memos, SQL queries, etc. These business decisions are possible with business information and business analysis. By this approach business, intelligence creates business value and every company should be implementing this.

Historical data, current and predicted data will be the fuel for business intelligence and the business decisions made. By doing these companies can improve management processes, its planning, measuring, monitoring. BI also impactful in operational processes, change analysis, investment. etc.(Williams & Williams, 2016).

References:

Efraim Turban, Ramesh Sharda, Dursun Delen - Business Intelligence and Analytics_ Systems for Decision Support, Global Edition-Pearson Education Limited (2014)

Steve Williams, Nancy Williams - The Profit Impact of Business Intelligence (2006)

Reference no: EM132430598

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