What Is Business Intelligence (BI)?
Enterprise intelligence (BI) leverages software and companies to transform information into actionable intelligence that informs an organization’s strategic and tactical business choices. Enterprise Analytics pertains to the exploration of historical knowledge from many source methods via statistical analysis, quantitative evaluation, data mining, predictive modelling and different technologies and strategies to identify developments and perceive the information that may drive enterprise change and support sustained profitable enterprise practices.
BI encompasses a wide variety of tools, applications and methodologies that allow organizations to collect knowledge from internal systems and external sources; prepare it for evaluation; develop and run queries in opposition to that information; and create experiences, dashboards and information visualizations to make the analytical results accessible to company resolution-makers, in addition to operational staff.
BI packages might also incorporate types of superior analytics, reminiscent of information mining, predictive analytics , textual content mining, statistical evaluation and big data analytics In lots of cases, although, superior analytics projects are conducted and managed by separate groups of data scientists , statisticians, predictive modelers and different expert analytics professionals, whereas BI groups oversee extra simple querying and analysis of business information.
Using a broad definition: “Enterprise Intelligence is a set of methodologies, processes, architectures, …