Business intelligence (BI) is a technology-driven process for analyzing data and presenting actionable information to help executives, managers and other corporate end users make informed business decisions.
BI encompasses a wide variety of tools, applications and methodologies that enable organizations to collect data from internal systems and external sources, prepare it for analysis, develop and run queries against that data, and create reports, dashboards and data visualizations to make the analytical results available to corporate decision-makers, as well as operational workers.
Following are the four key players who use Business Intelligence System:
•The Professional Data Analyst: The data analyst is a statistician who always needs to drill deep down into data. BI system helps them to get fresh insights to develop unique business strategies.
•The IT users: The IT user also plays a dominant role in maintaining the BI infrastructure.
•The head of the company: CEO or CXO can increase the profit of their business by improving operational efficiency in their business.
•The Business Users : Business intelligence users can be found from across the organization. There are mainly two types of business users
Casual business intelligence user
The power user.
The difference between both of them is that a power user has the capability of working with complex data sets, while the casual user needs will make him use dashboards to evaluate predefined sets of data.
Here are some of the advantages of using Business Intelligence System:
•Boost productivity: With a BI program, It is possible for businesses to create reports with a single click thus saving time and resources. It also allows employees to be more productive on their tasks.
•To improve visibility: BI also helps to improve the visibility of these processes and makes it possible to identify any areas which need attention.
• Fix Accountability: BI system assigns accountability in the organization as there must be someone who should own accountability and ownership for the organization's performance against its set goals.
•It gives a bird's eye view: BI system also helps organizations as decision makers get an overall bird's eye view through typical BI features like dashboards and scorecards.
•It streamlines business processes: BI takes out all complexity associated with business processes. It also automates analytics by offering predictive analysis, computer modeling, benchmarking and other methodologies.
• It allows for easy analytics: BI software has democratized its usage, allowing even non-technical or non-analysts users to collect and process data quickly. This also allows putting the power of analytics from the hand's many people.
Following are the four key players who use Business Intelligence System:
•The Professional Data Analyst: The data analyst is a statistician who always needs to drill deep down into data. BI system helps them to get fresh insights to develop unique business strategies.
•The IT users: The IT user also plays a dominant role in maintaining the BI infrastructure.
•The head of the company: CEO or CXO can increase the profit of their business by improving operational efficiency in their business.
•The Business Users : Business intelligence users can be found from across the organization. There are mainly two types of business users
Casual business intelligence user
The power user.
The difference between both of them is that a power user has the capability of working with complex data sets, while the casual user needs will make him use dashboards to evaluate predefined sets of data.
Here are some of the advantages of using Business Intelligence System:
•Boost productivity: With a BI program, It is possible for businesses to create reports with a single click thus saving time and resources. It also allows employees to be more productive on their tasks.
•To improve visibility: BI also helps to improve the visibility of these processes and makes it possible to identify any areas which need attention.
• Fix Accountability: BI system assigns accountability in the organization as there must be someone who should own accountability and ownership for the organization's performance against its set goals.
•It gives a bird's eye view: BI system also helps organizations as decision makers get an overall bird's eye view through typical BI features like dashboards and scorecards.
•It streamlines business processes: BI takes out all complexity associated with business processes. It also automates analytics by offering predictive analysis, computer modeling, benchmarking and other methodologies.
• It allows for easy analytics: BI software has democratized its usage, allowing even non-technical or non-analysts users to collect and process data quickly. This also allows putting the power of analytics from the hand's many people.
