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- Business intelligence is a broad term that encompasses data mining, process analysis, performance benchmarking, and descriptive analytics. BI parses all the data generated by a business and presents easy-to-digest reports, performance measures, and trends that inform management decisions.
www.investopedia.com/terms/b/business-intelligence-bi.asp - People also ask
Business intelligence (BI) is a process driven by technology that analyzes business data in order to provide information that can be actioned so that executives and managers can make better-informed business decisions. Business intelligence is a broad term that encompasses data … See more
The need for BI was derived from the concept that managers with inaccurate or incomplete information will tend, on average, to make worse decisions than if they had better information. Creators of financial modelsrecognize this as “garbage in, garbage out.” BI … See more
BI tools and software come in a wide variety of forms. Let's take a quick look at some common types of BI solutions. 1. Spreadsheets: Spreadsheets like Microsoft Excel and Google Docs are some of the most widely used BI tools. 2. Reporting software:Reporting … See more
To be useful, BI must seek to increase the accuracy, timeliness, and amount of data. These requirements mean finding more ways to capture information that is not already being recorded, checking the information for errors, and structuring the information in a way … See more
There are many reasons why companies adopt BI. Many use it to support functions as diverse as hiring, compliance, production, and marketing. BI is a core business value; it is … See more
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Business intelligence (BI) consists of strategies and technologies used by enterprises for the data analysis and management of business information. Common functions of BI technologies include reporting, online analytical processing, analytics, dashboard development, data mining, process mining, complex event processing, business performance management, benchmarking, text mining, predictive analytics, and prescriptive analytics.
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