What is Business Intelligence? Definition
Business Intelligence (BI) aims at making better business decisions
through the use of a broad category of Management Information Systems,
applications and technologies for gathering, storing, analyzing, and
providing access to data. BI uses timely and accurate information to
make decisions.
Typical BI activities
Typically, BI activities include decision support, query and reporting,
online analytical processing, statistical analysis, forecasting, and
data mining. BI represents those systems that help companies understand
what makes the corporation successful, and to help predict the future
impact of current decisions. These systems play a key role in strategic
planning process of the corporation.
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Typical Business Intelligence Applications
Typical BI systems are: customer profiling, market basket analysis,
anti money laundering, anti fraud, customer contact analysis, market
segmentation, credit scoring, product profitability, inventory movement
as well as certain risk related applications.
Business Intelligence software
BI software provides better steering information to managers, enabling
them to make better business decisions, ultimately leading to increased
shareholder and stakeholder value creation. BI systems play a key role
in strategic planning process of the corporation.
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Recent User Comments
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Paramjit - India
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Business Intelligence History |
"Wikipedia says In 1989 Howard Dresner, a Research Fellow at Gartner Group popularized "BI" as an umbrella term to describe a set of concepts and methods to improve business decision-making by using fact-based support systems. But was it actually Dresdner in 1989 who actually coined the term 'Business Intelligence'?" |
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Alonso - US
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Self-servicing BI |
"In the same SAS-magazine, also Bill Hostmann from Gartner Research is quoted. Bill expects that information will be increasingly self-servicing. Getting information to business users in a relevant, accurate, consistent and timely way will be vital. Emerging technologies such as search capabilities, development tools and delivery to mobile devices will make BI easier and simpler to use. At the same time, educating business users about what kinds of analysis they should use and what types of information sourc" |
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Alonso - US
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Decision-centric BI (DCBI) |
"I recently read a new term: "Decison-centric BI" in an article by Dan Vesset from IDC in SASCOM. DCBI is the move from information delivery (historic reporting) to a collaborative, hypothesizing, modeling, predicting, future-action oriented usage of BI." |
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Business Intelligence Special Interest Group
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