What is Business Intelligence?
• Business Intelligence is a broad
category of application and technologies for:
– gathering,
– storing,
– providing access and
– analyzing data
to
help enterprise users make better, faster
business decisions.
BI Leverages all your Existing Data Assets
BI Leverages all your Existing Data Assets
Why
Business Intelligence
- By definition, the moment any given business is operating, it begins generating data. Some obvious examples are banking, sales, production data, warehouse information, transportation and logistics, personnel, etc.
- In addition there also exists large volumes of data which are important to the business but not directly generated by business operations. Examples are market data, competitive data, tenders and proposal, legal information, raw material prices, etc.
–As
such, none of the above described information can be used in its raw form by
corporate management to make decisions although the information is
critical in helping make those business decisions.
–Therein
lies the necessity for Business Intelligence. BI technologies help bring
decision-makers the data in a form they can quickly digest and apply to their
decision making. BI turns data into information for managers and executives and
in general, people making decisions in a company.
• Business Intelligence applications include the activities of:
•Decision support systems,
•Query and reporting,
•Online analytical processing (OLAP),
•Statistical analysis, Forecasting, and
•Data Visualization
BI Benefits
–Make better decisions by turning
enterprise data into real information
–Increase efficiencies getting
the most out of the data available to your business
–Gain a competitive advantage by
getting timely, flexible, sophisticated analysis of corporate data
Business
Intelligence Architecture
Important Factors in Choosing a BI Platform
–Standardization - Standardization is Key.
Single, shared view of the organization.
–Integration - Delivers a faster time to
value and reduce on going support costs you need. Integration into your
existing IT infrastructure with back office systems and desktop productivity
tools.
–Data source independenc
–Flexibility
–Manageability
What is the main difference between Data warehousing and Business
Intelligence?
• DW
- is a way of storing data and creating information. DW does not require BI to
work. Reporting tools can generate reports from the DW.
• BI
- is the leveraging of DW to help make business decisions and recommendations.
Information and data rules engines are leveraged here to help make these
decisions along with statistical analysis tools and data mining tools.
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