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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 Warehouse
  • Functional & Departmental Data Marts
  • Operational Data Stores
  • Web Data Warehouses
  • Data Mining Databases

 
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