Business intelligence definition
Business intelligence (BI) is a set of strategies and technologies enterprises use to analyze business information and transform it into actionable insights that inform strategic and tactical business decisions. BI tools access and analyze data sets and present analytical findings in reports, summaries, dashboards, graphs, charts, and maps to provide users with detailed intelligence about the state of the business.
The term business intelligence often also refers to a range of tools that provide quick, easy-to-digest access to insights about an organization’s current state, based on available data.
Benefits of BI
BI helps business decision-makers get the information they need to make informed decisions. But the benefits of BI extend beyond business decision-making, according to data visualization vendor Tableau, including the following:
- Data-driven business decisions: The ability to drive business decisions with data is the central benefit of BI. A strong BI strategy can deliver accurate data and reporting capabilities faster to business users to help them make better business decisions in a more timely fashion.
- Faster analysis and intuitive dashboards: BI improves reporting efficiency by condensing reports into dashboards that are easy for non-technical users to analyze, saving them time when seeking to glean insights from data.
- Increased organizational efficiency: BI can help provide holistic views of business operations, giving leaders the ability to benchmark results against larger organizational goals and identify areas of opportunity.
- Improved customer experience: Ready access to data can help employees charged with customer satisfaction provide better experiences.
- Improved employee satisfaction: Providing business users access to data without having to contact analysts or IT can reduce friction, increase productivity, and facilitate faster results.
- Trusted and governed data: Modern BI platforms can combine internal databases with external data sources into a single data warehouse, allowing departments across an organization to access the