Understanding Business Intelligence Will Help You Achieve Your Goals!
What is business intelligence? It is quite simple, really. Business intelligence is ‘intelligence’ about ‘business’. Having said that, we cannot really presume that ‘intelligence’ is simply data. Data on its own tells us little and can, at times, actually confuse the very issue you are trying to understand. In order to get to the heart of the business intelligence definition it is useful to consider that the word ‘intelligence’ as defined in the dictionary as ‘the ability to acquire and apply knowledge and skills’.
Business Intelligence is, therefore, knowledge that is acquired regarding a business and can be applied to solve problems, understand issues, identify opportunities, and forecast and plan results.
To make sense out of all the data in the organization, a business needs business intelligence software and a BI tool that is designed for business users with an easy-to-use interface and auto-recommendations and suggestions to lead users through sophisticated functionality to achieve BI Reporting, and BI analytics and to enable sharing of data to encourage social BI and improve business decisions.