Business intelligence (BI) is a group of techniques and tools to remodel from natural data in to useful and meaningful info for business evaluation purposes. BI are designed for large amounts of unstructured data to help determine, develop, and otherwise generate new business approach opportunities.

The objective of BI is always to facilitate the interpretation from the large amount of info. Identifying fresh opportunities and implementing a highly effective insight-based strategy can provide businesses with an affordable market benefit and long lasting stability.

BI technology gives history, current views and predictions of business procedures. Common features of business intelligence (BI) technology will be reporting, on-line analytical handling, analytics, data mining, procedure extraction, complicated event refinement, business overall performance management, dimension, text removal, predictive stats and prescriptive analytics.

BI can be used to assist a large number of organizational decisions which range from operations to strategy. Working decisions contain product positioning and prices. Tactical decisions incorporate priorities, goals and guidelines at acha broader level.

In all instances, BI works more effectively when coupled with data from markets in which the company works (external data) with info from inner sources of you can actually business including operating and financial data (internal data).

When mixed, external and internal info can provide a far more complete photo, the effect which is to make "intelligent" that cannot be produced from any solitary data arranged.

Business intelligence

History of Business Intelligence

The term "Business Intelligence" was originally discovered by Richar Sinfín Devens in "Cyclopedia of Commercial and Business Anecdotes" in 1865. Devens used the term to explain what sort of banker, Friend Henry Furnese, made gain playing info on his environment, before his competitors.

"Throughout Holland, Flanders, France and Germany, this individual maintained a total and perfect variety of business intelligence. Media from various battles was initially received simply by him, and the fall of Namur included in his revenue, thanks to the initial receipts with the news. very well (Devens, (1865), p. 210). The ability to accumulate and react based on data received, a great ability that Furnese is very reliable, remains to be the heart of BI.

In a 1958 article, IBM researcher Hans Peter Luhn used the word business intelligence. This individual uses Webster's dictionary meaning of intelligence: "the ability to be familiar with profound interactions of specifics that exist in many ways as a tips for action against desired goals. "
Business Intelligence while understood now could be said to have developed from the Decision Support Program (DSS) which will began almost 50 years ago and advanced throughout the mid-1980s. SPK originates from computer-aided types that are made to support in making decisions and setting up. From SPK, data facilities, Executive Data Systems, OLAP and business intelligence (bi) came into target in the late 1980s.

In 1988, the Italian-Dutch-French-British pool held a major international meeting for the Ragamcara Info Analysis in Rome. The main goal should be to reduce several dimensions as one or two (by detecting habits in data) that can be provided to individuals decision-makers.

In 1989, Howard Dresner (later as Gartner Group analyst) proposed "Business Intelligence" as being a general term to explain "concepts and methods for improving organization decision making using fact-based helpful systems. It was not before the late nineties that this work with was popular.

Definition Business Intelligence

There are several opinions regarding the definition of Business Intelligence, including:
In general, Business Intelligence (BI) is a process to extract company operational data and collect it in a data warehouse which is then processed using various statistical analyzes in the data mining process, so that various trends or patterns of data are obtained.

Business Intelligence is a series of applications and technologies for collecting, storing, analyzing, and presenting data access to assist company officials in decision making

Business Intelligence (BI) is a representation of applications and technologies to collect, store, analyze and provide access to data to help users in a company to make better decisions

Characteristics of Business Intelligence

A fantastic Business Intelligence Program has several characteristics, integrating:

1 . The main objective

Every computer systems include a primary goal for all users according to the wants of each consumer.

2 . Accessibility to relevant info

The problem of information availability is the central point in an efficient business intelligence program. In the decision-making process, there may be often a great incomplete or perhaps untrue data delivery. Good results . BI support, the availability of relevant data can be solving in order that it can present relevant data.

3. Ability

In such a case, there is BI's main functionality, which is that this can provide easy access to the most up-to-date information via current businesses and estimated opportunities. Additionally , Bi can fulfill the capability to analyze and fulfill customer demands.

4. Supporting Structure

In BI, the promoting system in it does not only consist of software and hardware, but also consists of a process that is generated for better making decisions and to determine strategies for foreseeable future mission and goals

Use of Business Intelligence

Companies use Business Intelligence to understand, improve performance, more efficient budgeting and identify new business opportunities. Some of the uses of Business Intelligence include:
1. Analysis of consumer behavior, purchasing patterns and sales trends

2 · Measure, track and predict sales and financial performance

3 · Budgeting, financial planning and forecasting

4 · Knowing the performance of marketing activities

5 · Optimization of processes and operational performance

6 · Increase the effectiveness of shipping and supply

7 · CRM Analysis (Customer Relationship Management)

8 · Risk Analysis

9 · Analysis of strategic values

10 · Analyze social media

Whenever in business companies, Business Intelligence is needed to improve effectiveness through the variety of the right business strategy, therefore in administration institutions ( non-profit organizations) business intelligence can be used to improve provider performance through increasing the efficiency of work implementation to ensure that ultimately program improvements will be created in the community and proper budget control.

Business Intelligence can also help a corporation analyze the trend changes that occur so that it will help this company determine the strategies wanted to anticipate these types of trend changes.

Business Intelligence with Data Ware House

Business Intelligence and Data Warehouse Concepts will be two things which might be actually distinct but practically inseparable. Associations between the two are so close that we are unable to talk about BI without a Data Warehouse.

Being a solution that relies heavily on good quality data, BI solutions can produce exact information in case the data source excellent and will generate incorrect facts if the contrary. In addition , the BI system response must be good so that it can achieve their objectives with regards to timely performance.

Related to this, data options in compound and large companies usually must be processed in order to be used effectively by the program.

The intricacy that usually takes place is that data sources happen to be scattered for various details and have had a gradual expansion cycle.

Therefore, data articles can vary at each point in the physical location, and in every single development pattern period. Such data most definitely requires specific treatments to get uniform but nevertheless valid. And if it is not managed with very good discipline on the development stage, data is commonly "dirty".

Data Warehouse meets these criteria, which is an independent database which is result of debt consolidation, cleaning, changing and customizing data so that it is worthy of being used being a source of information data to get the BI system.

The process of producing a data warehouse is not simple and requires powerful self-discussion. It could even be said in almost all cases, in the event included within the BI job, the Data Storage place is the lengthiest development activity.

Business Intelligence with Data Mining

Data mining is known as a process of taking out data by a data storage facility stored in a database or other safe-keeping media so that it is predicted that after exploration of data will be obtained a fresh data which is then placed into brand-new information as well.

 Data mining has some solutions to get mining data, using clustering, forecasting, classifying, associating and sequencing methods. So the relationship  between data mining and business intelligence is definitely on the data to be refined. Initially through the data facility, then in the new info mining method, then shown in the business brains so that it gets better, more at ease and exact information.

Business Intelligence decision making

1. Factual data

2. Planning data.

3. Predictive data.

4. Which is processed into comprehensive information - and usually comparative - so that it can provide an overview.

large and even comprehensive business and organizational conditions at:

1. past.

2. the present.

3. and future trends.

From guidance on the information, it is anticipated that users of the BI system could make decisions quickly and decisively - and a smaller a higher level risk.
The consequences of fast decision making will be of course huge, among others, may win its competition where we now have taken anticipatory steps after knowing facts one or more guidelines ahead of the competitors.

Two aspects of business intelligence

An even more detailed definition of Business Intelligence may be divided into two aspects, particularly:

1 . Methods or techniques in the practice of major, collecting and presenting data and business rules which might be bound to these people become proper information that may be easily recognized by different levels of organizational actors. Proper here ensures that it can support decision making in a better period of time from day to day.

2 . A collection of computerized systems and applications that support these