Business Intelligence is a process in which an organization takes its data and converts it into information, and then into knowledge, and gets that knowledge to the right people, at the right time and in an effective form, so that the best strategic and tactical decisions can be made in a timely fashion.
The BI process is repeated consistently, and is constantly refined to optimize its results. This yields competitive advantage for the organization in the market and stability in business.
To reach and maintain optimal BI, the organization uses best practices, procedures and technology in an efficient manner and on time, and does all this on a consistent and repeated basis.
BI may involve decision support systems, query and reporting, online analytical processing (OLAP) and its variations, statistical analysis, forecasting, budgeting, data mining, data warehousing and other technologies. One key aspect of BI is how its information is displayed. The two main display modes are graphic visualizations and reports. BI displays typically provide not only numerical information, but also graphics such as charts, trend lines, which are more easily digestible and appealing than numbers.
Traditionally, Business Intelligence software were available only to the largest organizations, due to the expense and complexity of BI. But in the late 1990s, software and techniques evolved that bring BI to smaller organizations, enabling them to achieve new insight into their business, and to make better business decisions, by cutting through the chaos of data overload.
Our personnel were part of this evolution, and with experience gained in many applications, can help your firm harness BI to enhance your competitiveness.
There are many phrases, terms and 3-letter acronyms (TLAs) thrown around in the BI world: Business Process Management (BPM), Key Performance Indicators (KPI), Business Analytics, Visual Analytics, Visual BI, Performance Management, and others. Some have specific and useful meaning, but others are merely fashionable terms that come and go.
Large firms have enjoyed the advantages of BI for many years. But only recently have the cost and complexity of BI begun to come down, making BI newly available to small and medium enterprises (SMEs), and also to departmental organizations and smaller divisions of large companies. SMEs face a variety of conflicting business drivers: Growth, Information Gaps, Cost Controls. Research shows that firms that invest in BI tools to work with their QuickBooks software improve performance by:
To see some examples of our work, please visit our Solutions page.
Jedox BI Suite has emerged as the world's top-rated BI software. Use it in your organization for planning, budgeting, forecasting, reporting, graphic visualization, performance management and other tasks.
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