The Significance of Business Intelligence

Business intelligence is said to be a very broad category which contains a wide host of applications as well as technologies that can be used to access a whole range of data information that can really help a lot of enterprise users and company managers make better, wiser and sounder decisions in their different and highly complicated business dealings. The business intelligence applications can also include the many activities that are required for many decision support systems as well as query and reporting, OLAP mechanisms or otherwise known as online analytical processing, forecasting, statistical analysis and of course data mining.

The different business intelligence applications can run several types of functions that are crucial to business success. For one thing, the business intelligence functions can be quite mission critical as well as integral to the entire operational system of the enterprise or corporation, and it can also occasionally meet any type of special requirement or need without nary a hitch. It is also capable of providing solutions that can be both enterprise wide or also localized to just a single divisional or departmental project. Aside from this, it can also be centrally initiated as well as driven by the demand of the different types of users that access such business intelligence applications. The term business intelligence has been used for nearly ten years, and back in the year 1996 many groups have predicted that it will be instrumental in coming up with more forward-thinking enterprises containing many information and applications that are readily available to many people that use the business intelligence information.