Business intelligence provides the tools for decision makers to plan and do the appropriate moves for the business. Through technology and software tools, it collects and interprets data. The process also involves making it available to all levels. Business intelligence doesn’t only involve giving out present information. In order to give a comprehensive analysis it also looks into past performance and future trends and forecasts.
In providing interpretation, analysts usually incorporate data with their own and others’ knowledge and experience. They come up with helpful information to aid managers plan the future of the business as well as do their daily work.
But business intelligence really becomes very effective when it is able to help every level of the organization. It means that each level gains access to the right information at a timely manner. Business intelligence usually would provide almost a real time reflection of any changes made by other departments and higher or lower management levels. It should facilitate fast communication and in turn collaboration of efforts towards a common goal.
That’s why in doing business intelligence, it is important that the organization has an intricate computer system that identifies the zones that are specifically appropriate for each particular level. The system should have enough capacity to store so much data and information so it can carry important information and make it available to designated users when they need them. However, not all information should be stored forever. So there should be a policy as to which data should remain and for how long each should stay in the database.
So business intelligence is providing comprehensive information at a timely manner. It facilitates efficient communication and collaboration so as to help everyone make not only data driven decisions but also coordinated ones.