But implementing is very critical part of any BI intelligence solution.Ĭompany need to plan business objectives and all other important functionality before jumping into selecting BI tools and making strategies, the executive, technical and management teams. When you have correct business intelligence solution, it is easy to identify business trends, pitfalls and opportunities. Companies which use BI in their organization can able to cut costs, identify new business opportunities, and spot inefficient business processes.īI is in the big picture that provides you to understand your company and the state of the market that you’re growing in.įollowing are the eight essential components of any successful BI strategy: The main purpose of BI in a business is to help corporate executives, business managers, and other operational workers make better and more informed business decisions.
BI technologies provide historical, current and predictive views of business operations.īI function includes reporting, online analytical processing, analytics, data mining, process mining, complex event processing, business performance management, text mining, predictive analytics and prescriptive analytics. BI comprises the strategies and technologies used by enterprises for the data analysis of business information. But only it can be extremely powerful – if it’s done correctly. Business Intelligence Strategy What does Business Intelligence mean?īusiness intelligence (BI) is important for every business growth.
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