Business Intelligence (BI) is the process of gathering information from the business. The gathered business information is transformed into knowledge using business intelligence. To run the business successfully one should have the comprehensive business knowledge and understanding of your business strengths and its weakness. In business intelligence will take into account the internal and external factors of a business. Business intelligence will ease the decision making process, helps in understanding the customer taste, market trends.
Business Intelligence Definition
The basic definition of Business intelligence is defined as “the process of gathering information about a business or industry matter; BI is a broad range of applications and technologies for gathering, storing, analyzing, and providing access to data thereby that help to managers make business decisions.”
Business Intelligence Includes What
Business intelligence (BI) includes software applications, technologies and analytical methodologies that perform data analysis. Business intelligence covers data mining, Web mining, text mining, reporting and querying, OLAP, and data visualization.
Knowledge Management Is Part of Business Intelligence
Knowledge management is one of the methods in Business intelligence. Knowledge management has been defined as “the technique and tools for capturing, storing, organizing, and making knowledge” Business intelligence is driven by an objective laid by the company. The duration of the objective may be short period or long period.
Business Intelligence Software
Identifying and understanding business opportunities in today’s vast business environment requires far more than an understanding of technology trends. Business software helps the business management to access up-to-date and accurate information about the business performance. Identifying and understanding business opportunities in this vast business environment requires far more than an understanding of technology trends.
OLAP powerful BI Software
The most popular business intelligence tool is OLAP (Online Analytical Processing). OLAP (Online Analytical Processing) is a powerful, Business Intelligence & enterprise reporting application for small and medium organizations with the capacity to fully Integrate Enterprise Information.