Improve Business Decision Making with BI

What is Business Intelligence?

The purpose of Business Intelligence is to support improved business decision making. Business Intelligence (BI) refers to technologies, applications and practices for the collection, integration, analysis, and presentation of business information.

BI for Business Application

BI uses more structured data from traditional enterprise platforms, such as enterprise resource planning (ERP) or financial software systems, and it delivers views into past financial transactions or other past actions in areas such as operations and the supply chain. Today, experts say BI’s value to organizations is derived from its ability to provide visibility into such areas and business tasks, including contractual reconciliation.

BI tools have evolved to become much more intuitive and user-friendly. In the past, organizations needed data scientists to use these systems and build dashboards. Today they’re automated. That means organizations can more easily establish data programs that allow non-technical business people to use BI tools to produce reports and get much of the information they need without involving data professionals in day-to-day usage. Analysts agree that this alone makes BI technologies important tools in the enterprise.