What is Business Intelligence?
Business Intelligence is a must for any company or organization trying to optimize performance and keep an edge over the competition.
Business Intelligence Definition
Business Intelligence (BI) is general term given to processes and concepts organizations use to utilize data they own in their internal operational systems and files and turn it into information that can be used to make better business decisions. Introducing BI into an organization typically involves collecting of raw data from the myriad sources an organization has, analyzing it and then presenting it in a summarized fashion in the form of reports or performance dashboards to information consumers. These consumers can be high ranking executives using this information to make better-informed strategic decisions, or lower ranking business people who use this information to optimize their day-to-day business activities.
Business Intelligence Example - Financial Reports
Business Intelligence Usage
BI is used for a wide variety of purposes in practically every industry, including retail, healthcare, consumer goods, e-commerce and manufacturing. While the particular applications of BI differ from one industry to another, the concept remains the same – using data accumulated over time in order to improve the organizational performance in the future, and by that maximize revenues and cut operational expenses.
Business Intelligence Example - Gov Spending Dashboards
Us Federal Contract Spending Details
Federal Contract Spending Flow
Federal Contract Spending Overview