Every business needs planning and it needs targets for its future operations and of course, for its success. But planning is not done without any basis. You need to have information from which it should be based upon. You also need information in evaluating company performance. In doing so, you have to look at past, current and forecasted data.
Well, data in its raw form might render useless. It must be grouped and interpreted accordingly. Business intelligence is doing the whole notion of this. It uses different technologies in collecting, interpreting and storing data. But the interpretation would generally depend on the application it is going to be used on.
The main objective of doing business intelligence is really then to provide basis for decision makers. They will be given relevant data and analysis. It also provides information on the experiences and decisions made by their peers. This is important so that they will be better equipped to dish out better decisions.
Business intelligence is usually made available to various levels of the organization. It is not limited to senior management only. Even junior managers and senior staff can have access to the information the company has. However, the type of information they would have access to would be different from the other. They would be given the information that’s only appropriate for their level and the information that are useful to them.
The software tools that are now available in the market gather and analyze comprehensive sets of data. It is not limited to production and sales only. But it also does on the side of employee attendance and customer figures. With the complete information business intelligence provides, all levels of the group is served and the whole business is provided with better decision makers as a result.