Business Intelligence - JRM

2. # 1 Define Business Intelligence (BI). Explain why BI is critical to
modern Business.
Business Intelligence can be defined as, ‘‘a conceptual framework for
decision support. It combines architecture, databases (or data
warehouse), analytical tools and applications’’
In simple words Business Intelligence refers to the system that supports
better business decision making by providing historical, current, and
predictive views of business operations.
Until now, it has been impossible for organizations to provide
management with a complete summary of business activities every day
but the application of Business Intelligence in the modern business has
changed the way, an information flows within organizations. Several
Business Intelligence applications which have contributed towards the
success of modern business are:
• Real Time Reporting
BI helps the organizations to make decisions based on live data
and it is also used to receive up-to-date reports with just a click of
a button.
• Efficient Decision Making
BI helps to produce reports in a PC format that improves end-user
analysis and makes it use easy for the business houses. It also
publishes reports that are specific to a distribution list or group.

3. • Increase Productivity
BI adds to the productivity by reducing the IT department
workload and empowering business users.
• Simple & Rapid Deployment
It is very simple to employ BI system because of its seamless
integration with Excel which makes it easy to understand for
business houses. BI has also made it easy to use graphical
interface for organizations
• New Publishing Capabilities
BI supports scheduling the execution and distribution of various
adhoc reports and publishes reports to the web in PDF & HTML
format.
• Collecting complete information
BI facilitates modern companies to collect complete information
from various parties like Customers, Stakeholders and
Competitors by offering the application of major theories like online
transaction processing systems (OLTP) and online analytical
processing (OAP)
CONCLUSION:
Apart from the above discussed importance of BI in developing modern
business, some of the other benefits of BI are time savings, improved
strategies, improved customer service, increased revenue, more efficient
process and cost savings. As the modern Business Intelligence systems
are built on a single architecture, the single and complete data model
ensures that the organization get better information out of BI system and
also benefit from consistent, accurate, and enterprise data. Thus we can
conclude that Business Intelligence is critical to modern business.