Glossary: What is business intelligence?

Business intelligence, or BI for short, is the process of obtaining, analyzing and visualizing data that aims to provide an organization with useful information and knowledge. Knowledge of relevant and current data assists the firm in strategic decision-making and leads to improved performance. The concept of BI includes various methods, technologies and tools for collecting, managing, analyzing and presenting data to enable organizations to better understand their business operations and processes.

As for the data collection itself, it is generally about sourcing from various sources, both internal and external, typically may be about databases, websites, social networks, CRM systems and others. Data can be structured (for example, numerical data) and unstructured (for example, text documents).

The essence lies in a comprehensive analysis

Business intelligence platforms then purify the data, eliminate duplication, and transform it into an appropriate shape to make it analyzable. And that brings us to the core. Data analysis is a key element of business intelligence. Using a variety of analytical techniques and tools, identify patterns, trends and key information in collected data. This includes generating reports, dashboards, and visualizations to make data easier to understand.

What is the goal of business intelligence?

The goal of business intelligence is Provide management with relevant and up-to-date informationthat will allow him to make decisions. BI help identify areas where performance and productivity can be improved. Based on analyses and data findings, organizations can make changes and optimize.

Microsoft Power BI is an innovative platform business intelligence that offers real-time data tracking. This allows you to instantly react to events and changes in the organization's environment. Business intelligence plays, or should play, an important role in all organizations, whether they are businesses, government agencies, non-profit organizations or other entities. It helps them better understand your data, leading to more efficient management and competitive advantage. We would like to introduce you to Microsoft Power BI and discuss the benefits it would bring to your business. Contact us.