The business intelligence system refers to the institutionalization of information communication technology to comprehend and systematize the flow of information that will be used for corporate endeavors. The business intelligence technology, being the foremost method being used by modern corporations, allows businesses to peruse voluminous data and information so that insights of the market can be comprehended. The intelligence gained by such companies can now be used in the decision making process to significantly enhance market leadership. A business intelligence system also helps companies in improving their corporate performance and productivity to ensure continues growth rates and profitability.
Information is essential and it plays a key role in understanding different situations and scenarios so that businesses can engineer their operations based on actual or concrete conditions. Knowing the facts means that decisions and company thrusts would be accurate. However, current information gathering and analytics tools today cannot cope up with the sheer volume and magnitude of information flow. That is why the institutionalization of a business intelligence system has become a paramount corporate concern. Companies with the ability to gather, filter, analyze and use information will have a definite advantage over its competitors. Company initiatives can achieve focus and products can be delivered according to market demands. Management teams can take full control of these initiatives and make prompt decisions that are correct and accurate. All these can be made possible through the use of business intelligence technologies. It could greatly amplify the competitiveness of companies making them stronger and more viable.