Business Intelligence (BI)
Business intelligence (BI) and business intelligence software explained.
Business Intelligence Definition: What is BI?
The phrase business intelligence (BI for short) is the combination of software applications, methodologies and business systems that play a key role in the strategic planning process of a corporation.
Most companies collect huge amounts of data from its business operations. Keeping track of that information requires a wide range of software programs and different database applications for various departments (e.g. sales, finance, supply) throughout the organization to access and use the data.
Using multiple software programs makes it difficult to retrieve information in a timely manner and to perform analysis of the data. A business intelligence solution replaces the multiple tools traditionally used to collect and analyze the data.
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