- Business intelligence is an innovation driven process for analyzing information and displaying actionable data to encourage officials, directors and other corporate end clients settle on educated business decisions.
- The objective of using BI for your business is to enhance your visualize of your hierarchical activities and financial status to more readily deal with your business.
“Business Intelligence (BI)= Accumulation+ Analysis + Reporting + Budgeting + Presentation”
Types of BI:
- Strategic Business Intelligence
- Operational Business Intelligence
Benefits and Advantages of Business Intelligence:
- More accurate with faster reporting, analysis or planning
- Better business decisions
- Improved data quality
- Improved employee and customer satisfaction & operational efficiency
- Increased competitive advantage
- Reduced costs
- Increased revenues
- Saved headcount
Disadvantages of Business Intelligence:
- Piling of Historical Data
- Muddling of commercial settings
- Time Consuming Implementation
- Limited Use
choose BI is the for your business. Read more blog related of Small Business.