L2

• Business Intelligence (BI) is a set of methodologies, processes, architectures, and technologies that transform raw data into meaningful and useful information.
• Business Intelligence is also defined as knowledge gained about a business through the use of various hardware and software technologies which enable organizations to turn data into information.
• ORIGINS OF BUSINESS INTELLIGENCE

  • 1865: Richard Miller Devens coins the term BI in his ‘Cyclopedia of Commercial and Business Anecdotes’
  • 1958: IBM discuss Business Intelligence at length
  • 1960: The Dawn Of Data
  • 1970: Enter The Big Boys
  • 1990 – 2000: BUSINESS INTELLIGENCE 1.0
  • 2000: ONWARDS BUSINESS INTELLIGENCE 2.0
  • 2018: THE TOOLS OF TODAY
• CHARACTERISTICS OF BUSINESS INTELLIGENCE

  • Align With Strategy
  • Drive Value
  • Ensure Accountability
  • Can Be Easily Executed
  • Maintain Quality and Consistency
  • Manage Interdependencies
• COMPONENTS OF BI ARCHITECTURE

  A BI system has four major components:

  • Data Warehouse
  • Business Analytics
  • Business Performance Management (BPM)
  • User Interface
• THE BENEFITS OF BI

  • The ability to provide accurate information when needed, including a real-time view of the corporate performance and its parts
  • Faster, more accurate reporting (81%)
  • Improved decision making (78%)
  • Improved customer service (56%)
  • Increased revenue (49%)