Business Intelligence - JRM

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Business Intelligence - JRM

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Business Intelligence - JRM

  1. 1. # 1 Define Business Intelligence (BI). Explain why BI is critical to modern Business. Business Intelligence can be defined as, ‘‘a conceptual framework for decision support. It combines architecture, databases (or data warehouse), analytical tools and applications’’ In simple words Business Intelligence refers to the system that supports better business decision making by providing historical, current, and predictive views of business operations. Until now, it has been impossible for organizations to provide management with a complete summary of business activities every day but the application of Business Intelligence in the modern business has changed the way, an information flows within organizations. Several Business Intelligence applications which have contributed towards the success of modern business are: • Real Time Reporting BI helps the organizations to make decisions based on live data and it is also used to receive up-to-date reports with just a click of a button. • Efficient Decision Making BI helps to produce reports in a PC format that improves end-user analysis and makes it use easy for the business houses. It also publishes reports that are specific to a distribution list or group.
  2. 2. • Increase Productivity BI adds to the productivity by reducing the IT department workload and empowering business users. • Simple & Rapid Deployment It is very simple to employ BI system because of its seamless integration with Excel which makes it easy to understand for business houses. BI has also made it easy to use graphical interface for organizations • New Publishing Capabilities BI supports scheduling the execution and distribution of various adhoc reports and publishes reports to the web in PDF & HTML format. • Collecting complete information BI facilitates modern companies to collect complete information from various parties like Customers, Stakeholders and Competitors by offering the application of major theories like online transaction processing systems (OLTP) and online analytical processing (OAP) CONCLUSION: Apart from the above discussed importance of BI in developing modern business, some of the other benefits of BI are time savings, improved strategies, improved customer service, increased revenue, more efficient process and cost savings. As the modern Business Intelligence systems are built on a single architecture, the single and complete data model ensures that the organization get better information out of BI system and also benefit from consistent, accurate, and enterprise data. Thus we can conclude that Business Intelligence is critical to modern business.

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