What Is Business Intelligence: An Overview

Business intelligence is always directed to the goal of collecting and processing data through the use of applications and technology, and giving them to specific users just as they are needed. It is done so that top level management and other decision makers can better provide strategies and solutions to company needs with the bottom line aim, of course, of improved business performance and business growth.

Business intelligence consists of many applications. It involves research and reporting.  It provides support systems for decision making. There is online analytical processing. Analysis on statistics is done. Trend analysis or forecasting is also a part of it. And there should be a data warehousing or data mining. So it is not just based purely of figures and but also on facts, happenings and even opinions. Depending on what the focus of one area is, the information that a specific user gets should provide a holistic view of his particular concern, the business and the market, both locally and globally. To be able to make the right and better choices and also for the business to be more competitive, these information are vital. The information should also be updated real time and it should be accurate.

Different business intelligence vendors have different tactics in dealing with this but the aim is still the same. They have different solutions to answer every specific need of specific clients. And so more often than not, these solutions are tailored to each of its users needs.  Although the company may incur some costs for this, the returns also make it worth doing. Decision makers are able to make optimal choices. The enterprise comes out more competitive. And ultimately what results is company growth.   

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