What is Business Intelligence? Why do we use BI?

Question

What is Business Intelligence? Why do we use BI?

Answer 1

Business Intelligence (BI) consists of technologies, and applications that are used to collect, integrate, and present business insights. Its main purpose is to improve the decision-making process in the business by performing data analysis. BI systems help to provide old, current, as well as predictive views of various business operations. It is used to convert raw data into comprehensible and meaningful information that can increase the revenue of the business. It includes the process of analyzing the data to optimize business performance.

We use Business Intelligence for the following reasons:

• To accelerate and improve decision-making
• Optimize internal business processes
• Increase the operational efficiency
• Drive new revenues
• Gain competitive advantages over rivals in business
• Identify market trends
• Identify business problems that have to be addressed

To learn in depth about BI, read Power BI tutorial.

You should also, watch this comprehensive tutorial on BI: