Job intelligence (BI) refers to the technology and data infrastructure of an organization. BI has become a broad term that encompasses several interrelated technologies and processes including data mining, process analysis, performance benchmarking, and descriptive analytics. BI parses all the matter generated by a business and presents easy-to-digest reports, performance measures, and trends that inform management decisions.
Key Takeaways
- Trade intelligence is the technological toolkit used by a company to collect and analyze internal data.
- These technologies may include an array of IT denouements from hardware and physical sensors to software platforms and cloud computing.
- Data collected by BI systems are often displayed visually as tabulations or graphs on a graphical dashboard interface.
What Is Business Intelligence?
Although business intelligence technologies have discrete functions, their main function is to support a company’s decision-making process and to help knowledge workers, such as overseers and research analysts, make better and faster decisions.
Business intelligence represents the scope of IT tools that a stationary uses to gather and analyze internal, company-specific information in order to make informed data-driven decisions. These many tools and software platforms combine to comprise robust systems that allow a company to gather, store and analyze raw profession data in a way that helps it make the right decisions. Business intelligence systems normally operate to collect information in the areas of customer support, market research, competitive intelligence, product performance, and other areas that aid from statistical analysis.
How Business Intelligence Is Used in Different Industries
Functions of business intelligence technologies restyle by industry. For example, they are used in manufacturing for order shipment and customer support, in retail for user targeting and utilizing, in financial and banking services for claims and
Business Intelligence Data
The data used in business intelligence can include authentic as well as newly gathered data obtained from novel sources. Business intelligence then takes all of that statistics and combines it into a broad set of data analysis applications and functions.
Specific business intelligence technologies may include:
- ad hoc dissection
- data querying & discovery
- data warehousing
- enterprise reporting
- online analytical processing
- data visualization software
- dashboards
- about scorecards
- cloud services
- supply chain analytics
- machine learning & artificial intelligence
The Bottom Line
Inclusive, business intelligence is a data analysis process aimed at boosting company performance in relation to its competitors by helping end narcotic addicts within the company make more informed decisions. Business intelligence applications with unique and important charges can be bought separately from third-party vendors or as part of a single business intelligence platform.