Business Intelligence

Business Intelligence [BI] refers to the transformation of historical and real time data into information that can be used to support decisions affecting corporate performance.

Bi is more than applications and technologies used to extract, access, analyze and present data and information about company operations. It is also about how well that information is integrated into everyday business processes, and in the adoption of such intelligence by the people making the decisions.

Business intelligence systems help companies gain a more comprehensive view of factors affecting their business to make better business decisions. It is not solely for the use of executives, rather, it is estimated that 90% of all business users in any one organisation benefit from business intelligence systems.

For example, BI applications can help align and integrate different business functions by:

1. Enhancing communication and collaboration among departments
2. Improving processes
3. Enabling companies to respond more quickly to changes
4. Increasing morale

When a BI system is well-designed and properly integrated into a company's processes and decision-making process, it improves total company's performance.

Having access to timely and accurate information is becoming an important resource for organisations to both expedite decision-making and improve customers' experience.

More on BI at The Business Intelligence Guide

Integrating Intelligence Into Business Systems

As business assets incorporate more intelligence, they move along the Artificial Intelligence continuum, releasing human resource from low value-add administrative tasks, to further engage in more innovative and creative functions.

Expert systems are being slowly integrated to support improved decision making and support more advanced human interaction with business knowledge.

The focus of technology and data has changed from accessing information to using information before it loses its value. This is done using:

• Scorecards
• Dashboards

Regardless of where your company lies on the Intelligence continuum, the implementation of BI systems is a long and complex process, but one that will pay dividends in corporate performance for many years to come.

More on BI at The Business Intelligence Guide

Video - Business Intelligence Strategies

A short film that describes the need for a business intelligence strategy for your business or organization. [5:59]

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