What is Business Intelligence (BI)

Business Intelligence (BI) is a terminology representing a collection of processes, tools and technologies helpful in achieving more profit by considerably improving the productivity, sales and service of an enterprise.

BI technologies provide historical, current and predictive views of business operations. Common functions of business intelligence technologies are reporting, online analytical processing, analytics, data mining, process mining, complex event processing, business performance management, benchmarking, text mining and predictive analytics.

Business intelligence aims to support better business decision-making. Thus a BI system can be called a decision support system (DSS).

With the help of Business Intelligence methods, the corporate data can be organized, analyzed in a better way and then converted into an useful knowledge of information needed to initiate a profitable business action. Thus its about turning a raw, collected data into an intelligent information by analyzing and re-arranging the data according to the relationships between the data items by knowing what data to collect and manage and in what context.