Business Intelligence Systems - Streamlined Decision-making

Shorn of extraneous details, the definition of business intelligence systems (usually called BI) is a variety of applications that analyze a company’s raw data. From there, all kinds of inferences and references are made to formulate a new improved direction for the company.

The broader definition lists the program as a set of methodologies, processes, architecture and technologies to will transform all those data into useful information. The method is to enable the company better and more effective strategic, tactical and operational insights, and consequently a streamlined decision-making.

The listed factors include data integration, data quality, data warehousing, master data management, and analysis of text and content within the information management segment. The preparation of data and its use are two different segments though linked with one another inside the BI architecture.

Contents and uses

Inside the context of the broad usage of the system, the significant utility that stood out enables the company to gain insight into its critical operations. This is done through the reports and their tools for analysis. Included here are the tabular reports, spreadsheets, charts and white papers.

Within the context of the broad usage of the system, the standout utility is that it enables the company (organization or group) to gain insight into its critical operations through reports and their tools for analysis. These include such applications as tabular reports, spreadsheets, charts and white papers.

BI these days is passed through the web, the Internet or within the Intranet connections of the company. Some interactive BI applications are now optimized for transportable communication devices (smart phones, tablets). The popularity is caused by the interactive capabilities of the apps of these devices. (Contrast this to inert company reports, and the like.)

Other applications

For business purposes, there are also other BI applications. The first is measurement to create performance metrics and bench marking. The purpose is to inform business leaders and managers where they are in their business goals.

The creation and building of quantitative processes to base optimal decisions are created in the system’s analytics.  This involves data mining, statistical analysis, process mining, predictive analytics, modeling, data lineage, and other event processing and prescriptive analysis.

The reporting program creates the infrastructure for strategic reporting (for strategic management). Included here are data visualization and executive information system.

Meanwhile, the knowledge management program takes care in identifying, creating, representing and enabling the adoption of insights and other business experiences. This is to lead into learning management and regulatory compliance.

Some advantages

The company can benefit by way of making better decisions if the BI is well-designed. The process is through the quick understanding of the various information assets and how they interact with each other.

The application includes the integration of disparate data sources into one solid framework in real-time reporting and analysis. Business intelligence can provide the alert functionality to end-users when conditions are accomplished.

Companies can truly make better and improved decisions through business intelligence systems in critical areas like cutting costs, increasing sales, and the ability to identify new business opportunities.