Business intelligence (BI) leverages software and services to analyze data and provide insights into business performance. BI tools collect data from within and outside an organization, analyze it using techniques like data mining and predictive modeling, and present findings through reports, dashboards, and visualizations. This allows organizations to make more informed strategic decisions, gain competitive advantages through customer insights, improve processes and efficiency, and monitor key metrics in real-time. Common applications of BI include optimizing operations in human resources, finance, sales, marketing, and providing executives with a comprehensive view of business health.