What is Business Intelligence?
Business Intelligence also called as BI includes processes, applications, skills and practices that are used to support decision making. BI is based on computer based techniques, which are used in digging-out or spotting and then analyzing the information like sales revenue by the products or departments.
Business Intelligence supplies the historical, predictive views and current data of business operations. Some of the most common functions of Business Intelligence are data mining, benchmarking, predictive analytics, online analytical processing and analytics. The main goal of Business Intelligence is to support for better business decisions. So, Business Intelligence can also be called as Decision support systems (DSS).
Benefits of Business Intelligence system- Now let’s see some benefits of having a Business Intelligence system-
1. BI system includes the ability to access data in the similar format from different sources, one of the ways to measure and analyze cross-departmental data and finding out the good and bad customers and tracking of customer behaviour to improve relationships.
2. Business Intelligence also helps us to track some products from distributor to sales to improve the supply as well as production and to track market trends and external trends to improve the organizations competitive edge.
3. Some issues in the company may not be solved easily and for this purpose, we have to increase the efficiency and mining of clear information from huge data and determine the revenues of Business intelligence. It may take some time to see the benefits of Business Intelligence software.
At the end, shortening and assembling the data from different sources in a company allows the users to relay upon the information memory to assist in the decision making process and some problem solving strategies for more understanding of the market and customers.
Both the data analysts and IT professionals has to be patience and cooperative to accomplish the preferred outcome and benefit from Business Intelligence tools.
Business Intelligence also called as BI includes processes, applications, skills and practices that are used to support decision making. BI is based on computer based techniques, which are used in digging-out or spotting and then analyzing the information like sales revenue by the products or departments.
Business Intelligence supplies the historical, predictive views and current data of business operations. Some of the most common functions of Business Intelligence are data mining, benchmarking, predictive analytics, online analytical processing and analytics. The main goal of Business Intelligence is to support for better business decisions. So, Business Intelligence can also be called as Decision support systems (DSS).
Benefits of Business Intelligence system- Now let’s see some benefits of having a Business Intelligence system- 1. BI system includes the ability to access data in the similar format from different sources, one of the ways to measure and analyze cross-departmental data and finding out the good and bad customers and tracking of customer behaviour to improve relationships.
2. Business Intelligence also helps us to track some products from distributor to sales to improve the supply as well as production and to track market trends and external trends to improve the organizations competitive edge.
3. Some issues in the company may not be solved easily and for this purpose, we have to increase the efficiency and mining of clear information from huge data and determine the revenues of Business intelligence. It may take some time to see the benefits of Business Intelligence software.
At the end, shortening and assembling the data from different sources in a company allows the users to relay upon the information memory to assist in the decision making process and some problem solving strategies for more understanding of the market and customers.
Both the data analysts and IT professionals has to be patience and cooperative to accomplish the preferred outcome and benefit from Business Intelligence tools.
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