The Basics of Business Intelligence
Business intelligence may seem like a simple topic at first, but similar to other important business processes, BI is complex. It’s also vital to a company. This process is the art of taking large amounts of data, refining and analyzing it, and then using those insights to make informed decisions. It’s not one single tool, but a variety or resources that all collect, crunch, and sort data. Business intelligence software then prepares that data so users can run queries against it and generate reports, dashboards, data visualizations, and other tools that help leaders run their company more effectively.
While business intelligence isn’t technically the same thing as business analytics (BA), BI as a term now includes advanced and augmented analytics. Traditional business intelligence focuses on what happened in the past, as well as what’s happening in the present, while BA uses data to identify and review past business trends to predict future trends. To learn more about BI, BA, and other important aspects of this process, check out the following infographic.