Business Intelligence (BI)

What is Business Intelligence (BI)?

Business Intelligence (BI) is the technology-driven process of collecting, analyzing, and presenting data to help companies make informed business decisions. BI tools and techniques allow businesses to transform raw data into meaningful insights, monitor performance, and identify trends and opportunities.

Key Components of BI

• Data Warehousing: Storing and organizing large amounts of data for analysis.
• Data Visualization: Presenting data through charts, graphs, and dashboards for better understanding.
• Reporting: Generating regular reports to monitor business performance and identify trends.

Benefits of Business Intelligence

• Informed Decision-Making: Provides data-driven insights to guide strategies.
• Increased Efficiency: Helps identify areas for process improvement and cost reduction.
• Competitive Advantage: Enables businesses to stay ahead by anticipating market changes.

Related Terms and Concepts

Data analysis, data visualization, key performance indicators (KPIs), data warehousing.