3. Concept of BIS
Business intelligence represents a wide area of applications and
technologies for collecting, storing, analyzing and providing
access to information for improving businesses process modeling
quality.
The term 'Business Intelligence' has evolved from the decision
support systems and gained strength with the technology and
applications like data warehouses, Executive Information
Systems and Online Analytical Processing OLAP
4. Benefits of BIS
Improved Management Processes.
Improved business operations.
Fraud detection, order processing, purchasing
that results in increased revenues and reduced
costs.
Intelligent prediction of future.
5. Characteristics of BIS
It is created by procuring data and information for
use in decision-making.
It is a combination of skills, processes,
technologies, applications and practices.
It is a combination of a set of concepts and
methods strengthened by fact-based support
systems.
6. Characteristics of BIS Cont….
It is an extension of Executive Support System or
Executive Information System.
It collects, integrates, stores, analyzes, and
provides access to business information
It is an environment in which business users get
reliable, secure, consistent, comprehensible,
easily manipulated and timely information.
It provides business insights that lead to better,
faster, more relevant decisions
7. The Purpose of Business Intelligence System
The main purpose of Business Intelligence in a
business is to help corporate executives, business
managers and other operational workers to take
better decisions and more informed business
decisions activities.
8. Implementation of a Business
Intelligence System
Before implementation, companies should first analyze
the way that they make decisions and consider the
information that executives need to facilitate more
confident and more rapid decision-making.
11. Advantages of BIS
Facilitation of the decision-making process.
The unique structure of reporting enables faster and more
efficient decision-making and contributes to the improvement
of business processes.
Conducting a data analysis, it is possible to use collected data
in the best way and increase the satisfaction of all users.
Providing users only with the information they need and timely
expressed information that leads to better communication.
Providing opportunities to increase the value of information as
a resource.
12. Disadvantages of BIS
The high cost of implementation of BI systems.
In order to obtain useful results, it takes a long
period of time to do a data analysis.
Expensive and long training in their use.
Lack of adequate professional employees that
can work in a BI environment in individual
companies.