Everybody, meet Business Intelligence (or BI)!

Scroll for more
Everybody, meet Business Intelligence (or BI)!

If you are running a business, you might get tangled up in the gathered data. Fortunately, there is a dedicated solution called BI, which can help you. For those who are curious and looking to understand a new tech concept, this article will be useful as well. Want to know what Business Intelligence is? Read on to find out some relevant pieces of information:

Business Intelligence, shortened as BI, is a term that encompasses more than one notion. Internet users around the world outdone themselves and used them all, to the burden of experts. Thus we’ve ended up with terms such as “application”, “solution”, “tools”, “techniques”, “process”, often used to describe similar concepts. As to shed some light on what BI is really all about, let’s start from scratch.

Business Inteligence – the basics

To put it simply, Business Intelligence is a data analysis process applied to a great amount of data, of course. This process is made possible through a set of tools (or an application , a software or a suite – all these describe the same concept), added to a server which stocks a database. To understand better what a tool used in BI is, think your ordinary Excel, for example, but improved, tuned, taken to a whole new level. Developers call them “models” (as in “Excel model”). So what is the outcome of using a BI tool? the answer is simple: it processes the data and generates analyses, forecasts, reports.

However, in order for it to do so, BI first takes the existing data from its original database and transfers it into a different type of database where it is processed. The data now has what is called a multidimensional format on which statistical algorithms can be applied. In its original format, the data could not have been processed properly as to allow such actions to take place.

Why choose Business Intelligence?

All in all, the point of using BI is to help people make the best decisions for their businesses based on patterns identified by means of the described actions. Very often, this set of tools is briefly called BI solutions, for its precise reason is that of delivering solutions.

What makes BI even more compelling is its availability to both the IT specialist and managers. This is because, regardless of how complicated they may seem, the BI tools are actually easy to use. As any other application, they have a user interface, and it’s quite user-friendly, colourful and interactive.

What you must also know is that the tools used in BI are efficient in different ways. We will address this topic in a separate article, really soon.

Bear in mind that Business Intelligence is an important and complex subject, which is why a discipline dealing with it all had to be created. It’s also called Business Intelligence and we will come back with further details about it in our upcoming articles.

Enjoyed this article? Why don’t you show it to your friends? Share it on social media!