Business Intelligence

"***Business intelligence (BI) is an umbrella term that includes the applications, infrastructure and tools, and best practices that enable access to and analysis of information to improve and optimize decisions and performance. ***

Business intelligence (BI) leverages software and services to transform data into actionable intelligence that informs an organization’s strategic and tactical business decisions. BI tools or business intelligence tools access and analyze data sets, data warehouse and present analytical findings in reports, summaries, dashboards, graphs, charts and maps to provide users with detailed intelligence about the state of the business.

Business intelligence and analytics is also called descriptive analytics, in that it describes a past or current state. “It doesn’t tell you what to do; it tells you what was and what is,” says Michael F. Gorman, professor of operations management and decision science at the University of Dayton in Ohio.

Compare that explanation of BI with the definition for business analytics (BA), a technology-aided process by which software analyzes data to predict what will happen (predictive analytics) or what could happen by taking a certain approach (prescriptive analytics). BA is also sometimes called advanced analytics.

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.

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