BI(Business Intelligence) is a set of processes, architectures, and technologies that convert raw data into meaningful information that drives profitable business actions. It is a suite of software and services to transform data into actionable intelligence and knowledge.
BI has a direct impact on organization’s strategic, tactical and operational business decisions. BI supports fact-based decision making using historical data rather than assumptions and gut feeling.
Business Intelligence systems are implemented
The term Business Intelligence (BI) refers to the technologies, applications, strategies, and practices used to collect, analyze, integrate, and present pertinent business information. The entire purpose of Business Intelligence is to support and facilitate better business decisions.
- Raw Data from corporate databases is extracted. The data could be spread across multiple systems heterogeneous systems.
- The data is cleaned and transformed into the data warehouse. The table can be linked, and data cubes are formed.
- Using BI system the user can ask quires, request ad-hoc reports or conduct any other analysis
Four concepts Of Business Intelligence
Raw Data
Raw data is a set of information that was delivered from a certain data entity to the data provider and hasn't been processed yet by machine nor human.Examples Raw data A list of every purchase at a store during a month but with no further structure or analysis. Every second of footage recorded by a security camera overnight.
Data Warehouse
Data warehousing and business intelligence are terms used to describe the process of storing all the company's data in internal or external databases from various sources with the focus on analysis and generating actionable insights through online BI tools.
Data access, analytics, and Presentation
Data visualization is the presentation of data in a graphical format to make it easier for decision makers to see and understand trends, outliers, and patterns in data.BI analysts, focus on translating raw operational data into meaningful financial dashboards and reports. Data analysts focus more on combing data to find new patterns relevant to the business or other stakeholders
Data Dashboarding and Reporting.
Dashboard reporting is a visual representation of your company's key performance indicators (KPIs). Using data from other reports, dashboard visuals provide charts and graphs to give an at-a-glance vision of your company's performance.Business Intelligence exampes Sales, marketing, finance and operations departments