10 Facts about Business Intelligence
Facts about Business Intelligence present the valuable information about the tools and method in the business analysis. The people can transform the raw data into useful and meaningful information. People often call Business Intelligence as BI. Let’s find out other facts about BI below:
Facts about Business Intelligence 1: the new strategic business opportunities
You can develop the new strategic business opportunities by using the BI technology for this set of tool enables you to develop, identify and handle myriads of unstructured data.
Facts about Business Intelligence 2: the purpose of using Business Intelligence
People access the Business Intelligence technology for they want to get the easier interpretation from the unstructured data.
Facts about Business Intelligence 3: the goal
The businesses will be easier to run by using the effective strategies that you can get after you are handled the large amount of data using BI. It will provide the businesses with long term stability and competitive market benefit.
Facts about Business Intelligence 4: the general function of business intelligence
The general functions of business intelligence include online analytical process, reporting, data mining, analytics, complex event processing, process mining, benchmarking, prescriptive analytics, predictive analytics, and text mining. Find out facts about branding here.
Facts about Business Intelligence 5: the usage of business intelligence
The business intelligence can be used in various purposes. You can apply it for pricing or even product positioning.
Facts about Business Intelligence 6: Richard Millar Devens
Richard Millar Devens coined the term Business Intelligence when he described the profit obtained Sir Henry Furnese, a banker. Check bank facts here.
Facts about Business Intelligence 7: reporting or enterprise reporting
The strategic reporting can be developed using Business Intelligence. You can create the executive information and data visualization.
Facts about Business Intelligence 8: the collaboration platform
The collaboration platform is also included in BI. It enables you to use the electronic data interchange and data sharing.
Facts about Business Intelligence 9: before you have BI project
Before you begin the BI project, make sure that you have dealt with quality and amount of business data, level of business and level of sponsorship and commitment.
Facts about Business Intelligence 10: the market of business intelligence
Business intelligence is one of the important businesses in the world. The market is growing today. The revenue earned in 2012 was $13.1 billion in the field of business intelligence services.
Do you have any opinion on facts about business intelligence?