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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Business Intelligence Special Interest Group
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Special Interest Group (1406 members)
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Advance yourself in business administration and management
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Accelerate your management career
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Compare with BI: Activity Based Costing
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Balanced Scorecard |
Performance Management
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Return to Management Hub: Change & Organization | Decision-making & Valuation | Knowledge & Intangibles | Strategy
More Management Methods, Models and Theory
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Special Interest Group Leader
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Performance Management with Business Intelligence
BI Overview: the Concept and Main Trends
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