Business Intelligence
The term business intelligence(BI) refers to technologies, applications and practices for the collection, integration, analysis, and presentation of business information, as well as to the information itself. The purpose of business intelligence is to provide knowledge and insight in order to make better business decisions.
BI describes a set of concepts and methods to improve business decision making by using fact-based support systems. BI is sometimes used interchangeably with databases, report / presentation, query tools and executive information systems. Business Intelligence systems are data-driven. BI systems provide historical, current, and predictive views of business operations, most often using data that has been gathered into a data warehouse or a data mart and occasionally from working operational data. Software elements support reporting, interactive "slice-and-dice" analyses, visualization, and statistical data mining. Applications tackle sales, production, financial, and most other sources of business data for purposes that include, notably, business performance measurement (BPM). Information is often gathered about other companies in the same industry, which is known as benchmarking businessIntelligence.
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