Business intelligence (BI) is a broad category of technologies for gathering, storing, analyzing, and providing access to data from various data sources like MS-EXCEL and Databases, thus providing business users with reliable and timely information to make improved decision making. To put it simply, BI is an umbrella term that refers to an assortment of software applications for analyzing an organization’s raw data for intelligent decision making for business success. BI as a discipline includes a number of related activities, including decision support, reporting, and statistical analysis and forecasting.
Business Intelligence for Success
Business intelligence equips enterprises to gain business advantage from data. Once an organization is powered with BI it can anticipate enhanced turnaround time on data collection, come up with fresh ideas for novel business initiatives, foresee accurate picture of customer needs and demands, and perform more targeted marketing campaigns. BI makes an organization agile thereby giving it a competitive edge in today’s evolving market condition.
Business Intelligence Scenario
Every day, a dairy company collects from 2,000 stores information which is uploaded to servers at its headquarters at the end of the day. This information is used by the chain’s main office to instantly analyze key operational measures such as the number of dairy products sold, profits, trends, and so forth.
This scenario clearly explains how implementation of Business intelligence can be very fruitful for an organization.
Sample Dairy BI Reports
Sample HR BI Reports