Business Intelligence (BI)
Core ConceptsDefinition
Business Intelligence (BI) involves technologies and strategies used by enterprises for data analysis and management of business information.
Detailed Description
Business Intelligence (BI) is a technology-driven process that leverages software and services to transform data into actionable insights that inform an organization's business decisions. It involves the collection, integration, analysis, and presentation of business information. BI tools allow businesses to gain a comprehensive view of data to improve decision-making, strategic planning, and operational efficiency.
Key Features
- Ad hoc querying
- Advanced analytics including predictive analytics
- Dashboard creation and management
- Data integration and consolidation
- Performance metrics and benchmarking
- Reporting and visualization tools
Common Modules
Data Warehousing
Centralized repository for integrated data from various sources, primarily used for reporting and analysis.
Reporting and Analysis Tools
Tools used to generate meaningful reports and insights including dashboards and data visualization.
Popular Implementations
Implementation in a Retail ERP System
BI tools implemented in a retail ERP system enable the analysis of sales data, customer data, and product data to optimize inventory management and marketing strategies.