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What is business intelligence and its tools

 Business intelligence

Business intelligence is the process of gathering information in the field of business. Information is typically obtained about customer needs, customer decision-making processes, the competition, conditions in the industry, and general economic, technological, and cultural trends. Business intelligence is carried out to gain sustainable competitive advantage, and is a valuable core competence in some instances.
What is business intelligence and its tools
What is business intelligence and its tools

What is business intelligence

Simply put, business intelligence refers to the methods, tools, and techniques for collecting, integrating, analyzing, and presenting critical business information. An organization can benefit from business intelligence when it can access a comprehensive view of company data and use it to make better decisions, make changes, and quickly adapt to changing customer needs.

For example, a supply chain management company can effectively manage its operations using a business intelligence tool. This can help the company identify at what stage delays occur and where there are disruptions in the delivery process. This can help you understand which products are usually late or which carrier is often late.

Tools for Business Intelligence

People doing business intelligence have developed tools that ease the work, especially when the intelligence task involves gathering and analyzing large amounts of data. These are some tools commonly used for business intelligence:
  • Data warehouses
  • Data mining1
  • Business workflow analysis
  • Business management systems
  • Document warehouses
  • Text mining1
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