Business Intelligence (BI) refers to systems put in place to help companies analyze their business information and performance. This supports and improves management decision making across a broad range of their business activities.
BI systems can be specialized tools for data analysis, query and reporting (such as dashboards) to support organizational decision-making. Anything to potentially enhance the performance of a range of business processes.
BI systems are strategic information systems organizations deploy in order to improve decision-making and competitive advantage (M.Z. Elbashir et al. 2008).
Companies/organizations, regardless of the industry sector in which they operate, benefit from adopting a BI solution in order to solve their problems and achieve competitive advantage (Sharma, Reynolds, Scheepers, Seddon, & Shanks, 2010).
Hospitals (Aggelidis & Chatzoglou, 2012), police departments (Tona, Carlsson, & Eom, 2012), retail companies (Hou, 2012; Davenport, 2006) and banks (Olszak & Ziemba, 2007) are just some examples of BI adopters.
Many businesses are operating without a feedback loop. If you were a pilot, an Instrument Rating (IR) is a pilot rating earned through intensive training focused on flying solely by reference to instruments.
It is arguably one of the most valuable ratings you can add to your pilot certificate. Business Intelligence is the Entrepreneurial version of this.
Many businesses aren't even tracking Key Performance Indicators [KPI's]. Business Intelligence is levels of sophistication above KPI's.
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