Business Intelligence (BI) Author: Financial-edu.com
Business intelligence is the use and analysis of financial, operational, market, customer and other data to understand and communicate the nature of busines dynamics.
Business intelligence typically involves:
- One or more data sources: databases, files, news feeds, surveys, etc.
- Data capture tools: data filtering and transformation tools, cubes, scrapers, feeds, mashups, industrial sensors, etc.
- Analysis tools: maps, spreadsheets, charts, graphs, statistical software, etc.
- Presentation and reporting tools: spreadsheets, presentation software, dashboards, audio, video, etc.
- Personnel trained to capture, research, analyze and develop an understandable story from the source data: data analysts, database administrators, business intelligence specialists, marketing analysts, supply chain analysts, economists, presentation producers, strategists, etc.
Business intelligence covers an extremely wide gamut of activities, industries and skills. The essential goal is to create an understandable story from otherwise unintelligible data which can then be used to make informed business decisions.