Business Intelligence - 905 Words

Business intelligence (BI) processes monitor and analyze business transaction processes to ensure that they are optimized to meet the business goals of the organization. These goals may be operational goals that affect daily business operations, tactical goals that involve short-term programs such as marketing campaigns, or strategic goals that entail long-term objectives like increasing revenues and reducing costs. This is a kind of predictive analytics which helps to give idea about most critical factors affecting the growth. Business intelligence is proved to be beneficial in decision making. We analyze all data like orders, inventory, accounts, and point of sale transactions and also of customers. Key Performance Indicators is a term†¦show more content†¦This creates a so-called closed-loop decision making and action-taking system for managing and optimizing business operations. An efficient and integrated closed-loop system must enable a business to work smarter by closely aligning business performance to tactical and strategic business goals. This creates a feedback loop where positive activities are recognized and encouraged, while value-detracting activities are either improved or eliminated. The need for organizations to be more agile, however, requires that this closed-loop process also be employed to optimize day-to-day business activities. At present, most data warehouses do not provide the near-real-time or low-latency transaction data required for such processing. The solution is to use BI applications against live transaction data, or to capture transaction data in-flight, and integrate it into a low latency data store (which may be an extension to an existing data warehouse). Business intelligence applications provide new and calculative approach and helps in business development. BI results in following benefits. • Better decision making • Increase in revenue • Reduction in costs Three types of business intelligence (BI) exist, according to the general consensus of the IT industry: strategic, tactical and operational. Strategic BI and tactical BI are typically used in combination by senior managers and business analysts toShow MoreRelatedMarketing Intelligence : Business Intelligence1836 Words   |  8 Pages Business Intelligence Paper Course Name: MISI 740 Business Intelligence Submitted by: Akshay kumar Minare Submitted to: Professor Robin Barraco Date: 08/05/2016 Business Intelligence Paper Course Name: MISI 740 Business Intelligence Introduction Business Intelligence Business Intelligence can be defined as the combined form of developing and learning the data that has been collected from various sources and then analyzing it. Business Intelligence is also used to provide the data in an interactiveRead MoreBusiness Intelligence Software1249 Words   |  5 PagesTransformation through Business Intelligence Deployments Business intelligence (BI) is a broad category of applications and technologies for gathering, storing, analyzing, and providing access to data to help enterprise users make better business decisions. BI applications include the activities of decision support systems[-0], query[-1]and reporting, online analytical processing (OLAP[-2]), statistical analysis, forecasting, and data mining[-3]. Business intelligence applications can be: Read MoreBusiness Intelligence Software1165 Words   |  5 PagesAs we discuss the possibility of emerging into business intelligence software we must keep in mind the overall purpose of using any type of software is to reach strategic goals in order to increase market shares. I will discuss how business intelligence software will allow us to meet those strategic goals. We will establish what type of information and analysis capabilities will be available once this business intelligence software is implemented. We will discuss hardware and system software thatRead MoreBusiness Intelligence Systems1513 Words   |  7 PagesTouro University International ITM501 - Management Information Systems and Business Strategy Module 2 Case Assignment: Business Intelligence Systems 04 June 2010 Business intelligence: Definition Business Intelligence (BI) is defined by IBM as, â€Å"the discipline that combines services, applications and technologies to gather, manage and analyze data, transforming it into usable information to develop insight and understanding needed to make informed decisions.† (IBM.com, 2006) In its mostRead MoreQuestions On The Business Intelligence1618 Words   |  7 Pages1. Define and explain Terminologies? Business Intelligence: In my opinion the Business Intelligence means the procedure of taking substantial and also mixing of Knowledge, Data analysis, Technology that which may runs business opinions and views to reach their requirements that which leads to get a solution that which is Enterprise’s Growth and success IT Agility: My opinion IT Agility is a type of Methodology that suits dynamically and are changing their user eligibilities into their solutionsRead MoreBusiness Intelligence and Technology1489 Words   |  6 PagesIntroduction In modern business, vast amounts of data are accumulated, which makes the decision-making process complicated. It is a major mutual concern for all business and IT sector companies to change the existing situation of mass data, poor knowledge and support better business decision-making and help enterprises increase profits and market share. Business intelligence technologies have emerged at such challenging times. Business today has compelled the enterprises to run different but coexistingRead MoreBusiness Intelligence System2660 Words   |  11 PagesEXECUTIVE SUMMARY The term business intelligence includes variety of software which is used for analyzing the raw data of any organization. When these data are worked upon, company gets useful information of various disciplines. Examples of such tools are excel, spreadsheets package, database application access, data mining, data warehousing, reporting and querying software, decision engineering, process mining, online analytical processing and business performance management etc (Andrew 2011)Read MoreBusiness Intelligence Concept2549 Words   |  10 PagesTherefore, business intelligence was born. In this essay, it mainly discussed the impact and advantage of business intelligence to enterprise development, and it also give some examples of applications to help understand the function of business intelligence system. 2.0 Introduction Business Intelligence is a computer-based system which is used by organizations for decision making purpose. In the United States, 500 enterprises which have more than 90% of enterprises use business intelligence softwareRead MoreBusiness Intelligence ( Bi )2013 Words   |  9 PagesAs Wikipedia’s explanation, Business intelligence (BI) is the set of techniques and tools for the transformation of raw data into meaningful and useful information for business analysis purposes. It is a solution package, to integrate all the existing data of organizations efficiently, provide accurate report to support high level managers to make business strategic decision. BI is not a new concept, it was introduced in 1996 for the first time. As the development of BI is the ETL technologies, ETLRead MoreBusiness Intelligence ( Bi )2608 Words   |  11 PagesAbstract: As Wikipedia’s explanation, Business intelligence (BI) is the set of techniques and tools for the transformation of raw data into meaningful and useful information for business analysis purposes. It is a solution package, to integrate all the existing data of organizations efficiently, provide accurate report to support high level managers to make business strategic decision. BI is not a new concept, it was introduced in 1996 for the first time. As the development of BI is the ETL technologies