Tech Glossary
Business Intelligence (BI)
Business Intelligence (BI) refers to the technologies, processes, and practices that organizations use to collect, analyze, and present business data. The goal of BI is to support better business decision-making by turning raw data into actionable insights. BI tools help organizations analyze trends, monitor key performance indicators (KPIs), and identify new business opportunities by transforming data into visualizations, dashboards, and reports.
BI systems typically gather data from various sources like databases, spreadsheets, and cloud applications, consolidating it into a central platform for analysis. This data can cover customer behaviors, sales performance, marketing effectiveness, operational efficiency, and more.
Popular BI platforms, such as Microsoft Power BI, Tableau, and Qlik, enable users to create interactive reports and dashboards without deep technical expertise. These tools facilitate collaboration among teams, allowing stakeholders to access real-time insights and make data-driven decisions.
Overall, BI enhances business performance by providing clarity into operations, increasing agility, and enabling companies to react quickly to market changes. It plays a vital role in improving decision-making, streamlining operations, and driving competitive advantage.