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Business Intelligence

August 7, 2009 1 comment

Business intelligence is the knowledge, skills, capacities, understanding, practices and relative technologies, applications that are used to understand and interpret markets, their behavior, business dynamics and context. Storing, analyzing, and providing access to this data helps enterprise users make better business decisions. This helps companies to make faster, smarter decisions, as well as increase revenue, build customer loyalty, streamline operations, improve risk management and even enable previously impossible business processes.

BI System

A BI System provides facilities to capture data and present it for analysis; data is made available in ‘Historical’, ‘Live’ and ‘Predictive’ forms. We can integrate the wholesome business performance management aspects involving Strategy, Balance Scorecard, Strategy Translation/Cascading them into operations and business intelligence culminating into one integrated business information system which can be used as a Decision Support System.

BI Growing in Importance

The amount of corporate data is doubling every 2-3 years
Barriers of entry (costs/technology) are being removed
Continued pressure on businesses to find efficiencies and new market opportunities, client expectations
More disparate data sources than ever before

BI Usage Statistics – Source: Forrester Research Inc., 2006 survey

BI Use by Small and Mid Market Companies
48% –  Using
10% –  Planning to implement solution in 2007.
40% –  Not using
Don’t know 2%

Jesu Valiant

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