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Category: Business Intelligence
Business intelligence (BI) is a technology-driven process for analyzing data and delivering actionable information that helps executives, managers, and workers make informed business decisions.
More than BI software is included in a business intelligence architecture. Data is often kept in a warehouse created for the entire company or in smaller data marts that house specific departments’ and business units’ subsets of technology and financial information. These data marts frequently have connections to an enterprise data warehouse. Furthermore, Hadoop-based data lakes and other big data platforms are employed as stores or landing pads for BI and analytics data, particularly for log files, sensor data, text, and different kinds of unstructured or semistructured data. Business Intelligence is descriptive, telling you what’s happening now and what happened in the past to get the business to that state.
BI leverages software and services to transform data into actionable insights that inform an organization’s strategic and tactical business decisions. Technology-driven tools access and analyze data sets and present analytical findings in reports, summaries, dashboards, graphs, charts, and maps to provide users with detailed intelligence about the state of the business.
The term business intelligence often also refers to a range of tools that provide quick, easy-to-digest access to insights about an organization’s current state, based on available data.
A company that wants to better manage its supply chain needs BI capabilities to determine where delays are happening and where variabilities exist within the shipping process. That company could also use its BI capabilities to discover which products are most commonly delayed or which modes of transportation are most often involved in delays.
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