Business intelligence (BI) is the collection, examination and using of data to aid companies attain their desired goals. BI alternatives can be used around multiple groups, including funding, marketing and manufacturing.

The objective of business intelligence is always to deliver vital information to critical decision makers and business commanders so they can make informed decisions of their businesses. That eliminates business document sharing much of the “gut instinct” and guesswork that may be traditionally forced to make significant strategic decisions.

BI as well provides less wide benefits for individual departments within an organization, such as the capability to track task status and gather competitive intelligence upon rivals. This runs specifically true in a competitive environment in which businesses need to work hard to stand out from all others and generate the trust of their customers.

One of the earliest BI functions is definitely sourcing, collating and quality examining data. BI teams after that transform, store and maintain this info on an recurring basis, typically in databases. Ultimately, they statement the effects via dashboards and other stations.