What is BI? Business intelligence definitions and solutions.
Business intelligence (BI) USES software and services to transform data into actionable intelligence, informing the organization’s strategic and tactical business decisions.
What is BI?
Business intelligence (BI) USES software and services to transform data into actionable intelligence, informing the organization’s strategic and tactical business decisions. BI tools access and analyze data sets and provide analysis results in reports, summaries, dashboards, charts, charts, and maps to provide users with detailed information about the business status.
What’s the difference between BI and BA?
Business intelligence is also called descriptive analysis because it describes the state of the past or present. “It doesn’t tell you what to do; It tells you what it is and what it is, “said Michael f. Gorman, a professor of operational management and decision sciences at the university of Dayton in Ohio.
To the interpretation of business intelligence and business analytics (BA), in comparison with the definition of the data analysis is a software to predict what will happen (forecast analysis) or by adopting a method (prescriptive analysis) will happen what technical assistance process. BA is sometimes referred to as advanced analysis.
For a deeper understanding of the differences between BI and BA, see “business intelligence and business analytics: where BI fits the data strategy”.
How does business intelligence work?
Although business intelligence does not tell business users what to do or what will happen if they take a course, BI is not just generating reports. On the contrary, business intelligence provides people with a way to check data in order to understand trends and gain insights.
Hagans points out that business intelligence tools simplify the amount of work people need to search, merge, and query data to get the information they need to make good business decisions.
For example, a company that wants to better manage its supply chain needs the BI function to determine where the delay occurs and what changes occur during transportation, Hagans said. The company can also use its BI capabilities to find out which products are most often delayed, or which mode of transport is most likely to cause delays. Cindi Howson, a research vice President at the IT research and consulting firm Gartner, says the potential use cases of business intelligence go beyond typical business performance indicators that increase sales and reduce costs. In Columbus, Ohio, she says, the school system and its successful use of business intelligence tools to examine thousands of data points – – from attendance to student performance in order to improve the students’ learning and graduation rates.
Business intelligence tool
Today’s organizations can choose from a list of vendors that provide BI tools. Gartner identified nearly 20 BI and analytics vendors in its 2017 magic quadrant report, listing Microsoft, Qlik and Tableau as leaders. Other BI tool vendors include Information Builders, Sisense, and Zoomdata.
Hagans, said the organization has chosen the BI platform according to various factors, including the operating scale and complexity as well as their existing technology type (IBM, Oracle, SAS and SAP – all of which provide BI tool).
Business intelligence is moving.
In the past, IT professionals have been the primary users of BI applications. However, business intelligence tools have evolved to be more intuitive and user-friendly, enabling a large number of users to explore tools across multiple organizational domains.
Gartner’s Howson distinguishes two types of BI. The first is traditional or traditional BI, and IT professionals use internal transaction data to generate reports. The second is modern business intelligence, where business users interact with agile, intuitive systems to analyze data more quickly.
Howson explained, for certain types of reports, such as regulatory or financial reporting, the organization will usually choose classic BI, and accuracy is essential, the problems and is a standard data sets and predictable. When corporate users need insight into the dynamic of rapid change (such as marketing events), the organization usually use modern business intelligence tools, in this case, the fast access to data is one hundred percent correct.