• Home
  • Archive
  • Tools
  • Contact Us

The Customize Windows

Technology Journal

  • Cloud Computing
  • Computer
  • Digital Photography
  • Windows 7
  • Archive
  • Cloud Computing
  • Virtualization
  • Computer and Internet
  • Digital Photography
  • Android
  • Sysadmin
  • Electronics
  • Big Data
  • Virtualization
  • Downloads
  • Web Development
  • Apple
  • Android
Advertisement
You are here: Home » What is Business Intelligence?

By Abhishek Ghosh January 8, 2020 9:51 pm Updated on January 8, 2020

What is Business Intelligence?

Advertisement

Business Intelligence is a terminology which can be assigned to business informatics, which describes procedures and processes for the systematic analysis of own company. This includes the collection, evaluation and presentation of data in electronic form. The term business intelligence became popular in the early to mid-1990s. In 1958, an article by Hans Peter Luhn appeared in the IBM Journal which was most likely the origin of the term business intelligence.

The aim of Business Intelligence is to gain knowledge from the data available in the company to support management decisions. The evaluation of data, competitors or market development – is done with the help of analytical concepts and more or less specialized software and IT systems. With the knowledge gained, the company can make its business processes and its customer and supplier relationships more successful; Aspects here can be cost reduction, risk reduction and added value.

In the narrower sense, business analytics only describes the method of data acquisition. In a broader sense, the entirety of management basics such as knowledge management, customer relationship management or balanced scorecard is also understood, which, with a process-oriented understanding of the term, also includes permanent data maintenance and adaptation to a changing environment. The Institute for Business Intelligence understands “ business intelligence ” as the integration of strategies, processes and techniques in order to generate knowledge about status, potential and perspectives that is critical to success from distributed and inhomogeneous company, market and competitor data.

Advertisement

---

 

Phases of Business Intelligence

 

The technical basis of business analytics can be divided into three phases:

  1. Phase 1 ( data delivery ): Here, key data are determined and collected (quantitative or qualitative, structured or unstructured). Data is recorded via the operational systems ( OLTP ) or in a data warehouse based on it.
  2. Phase 2 ( discovery of relations, patterns, and principles ): This is where the data are related so that patterns and discontinuities become visible and can be compared with any hypotheses previously made, for example in the form of multidimensional analyzes or data mining.
  3. Phase 3 (knowledge sharing ): Here the knowledge is communicated in the company, i.e. integrated into the knowledge management. The dissemination of the knowledge gained should provide the basis for decisions on measures and actions.

The introduction of a comprehensive solution for business analytics requires many resources and is usually done in phases. As part of a strategy development process, the internal requirements and technical requirements as well as the external factors, new opportunities and technologies are recorded and converted into a BI strategy. This strategy development process often has a project character with its own project organization, schedules and catalog of requirements, which can be based, for example, on market studies. The appropriate embedding of the BI strategy in the entire corporate strategy must be ensured.

In the conception phase, the target image formulated in the BI strategy is designed with control processes suitable for all target groups. This includes the selection of suitable system and data architecture and programs (BI software). Responsibilities are established; Employees are trained for their future BI roles.

The actual implementation translates the requirements from the BI strategy into concrete projects. These are processed in the implementation phase, which is generally the phase with the highest resource consumption.

In practice, business analytics should primarily automate controlling, reporting, planning and previewing, as well as market and customer analysis. The company data generated in the ERP systems are used to analyze and evaluate the company’s situation from different perspectives. The analysis is preferably not carried out in the ERP systems, but in a separate database, the data warehouse (DWH). Reasons for this can be:

  • unsuitable structuring of the data in the ERP system;
  • no evaluation option via several ERP systems, for example when aggregating for a group report;
  • insufficient possibility to include third party data, for example from competitors or research institutes;
  • Load on the ERP system due to analytical evaluations;
  • ongoing change of data in the ERP system.

A key challenge why one deals with BI solutions at all is the high effort involved in the preparation of key figures and data. Prepared data is often generated decentrally from various systems through report exports, for example in Excel files.

What is Business Intelligence

 

How Business Intelligence Project Actually Works

 

The first task of a BI project is therefore to put data from the ERP system(s) in a separate database, the data warehouse, for analysis. This is done by extracting the data from the ERP system, transforming it and loading it into the data warehouse ( ETL process ).
The second task is to set up the analytical evaluations required for reporting. This can range from simple aggregations of, for example, sales figures for individual articles in the past few days, weeks, months to complicated analyzes using data mining , for example trend analyzes of customer behavior.
An often neglected aspect in BI projects is master data management.
A professional controlling application can only be fully effective if the data that comes from the previous systems is valid. Naturally, this applies to all applications that, in conjunction with other systems, often use the same information and master data. The more systems a company has to maintain, or the more companies, departments and departments deal with sensitive master data information, the greater the risk of data chaos.

 

Tools of Business Intelligence

 

Business analytics uses analytical information systems. The data stock of an analysis is fed from a data warehouse or extracts from it ( data marts ). Analysis methods include OLAP, data mining , text mining and web mining. The integration of geographic aspects using geographic information systems also serves to uncover any spatial relationships between company information (for example, locations) and external customer or potential data in order to include them in company decisions.

The strongest growth among the larger providers is recorded by IBM, which grew organically in both market segments and through the purchase of SPSS. The market share of the big five providers Oracle , SAP , IBM , SAS Institute and Microsoft increases to 61 percent, the share of the top 10 from 64 to 70 percent. The concentration on a few large suppliers is much more pronounced in the backend area than in BI user tools. Despite takeovers, the number of providers continues to increase.

In addition to the above-mentioned systems, there are open source solutions : BIRT, Bizgres, JasperForge, KNIME, Palo, Pentaho, RapidMiner, ReportServer, SpagoBI and so on.

This Article Has Been Shared 600 Times!

Facebook Twitter Pinterest

Abhishek Ghosh

About Abhishek Ghosh

Abhishek Ghosh is a Businessman, Surgeon, Author and Blogger. You can keep touch with him on Twitter - @AbhishekCTRL.

Here’s what we’ve got for you which might like :

Articles Related to What is Business Intelligence?

  • Social Impact of Big Data : Part 1

    It is needless to say that discussions, thought on social impact of Big Data has some practical need by both the IT & non-IT individuals.

  • Facebook Analytics Cognitive Data Analysis : Jupyter Notebook & IBM Watson

    As Example, We Can Pull CSV Data From Facebook Analytics to Jupyter Notebook For Cognitive Data Analysis With IBM Watson & Jupyter Notebook.

  • How To Learn Big Data For Beginners

    Many Are Interested to Learn Big Data Analytics and Other Works But Clueless Where From to Start. Here is How To Learn Big Data For Beginners.

  • How to Install Apache Ignite on Ubuntu Server

    How to Install Apache Ignite on Ubuntu Depends on the Purpose. Apache Ignite is a distributed database, also is a caching and processing platform.

  • Knowledge Discovery in Databases : Part II

    In Part I of Knowledge Discovery in Databases, we discussed about the database systems, fundamentals of statistics and Big Data and fundamentals of knowledge discovery in databases. In this second part of Knowledge Discovery in Databases, we will discuss the process of the Knowledge Discovery in Databases and Methods of the Knowledge Discovery in Databases. […]

Additionally, performing a search on this website can help you. Also, we have YouTube Videos.

Take The Conversation Further ...

We'd love to know your thoughts on this article.
Meet the Author over on Twitter to join the conversation right now!

If you want to Advertise on our Article or want a Sponsored Article, you are invited to Contact us.

Contact Us

Subscribe To Our Free Newsletter

Get new posts by email:

Please Confirm the Subscription When Approval Email Will Arrive in Your Email Inbox as Second Step.

Search this website…

 

Popular Articles

Our Homepage is best place to find popular articles!

Here Are Some Good to Read Articles :

  • Cloud Computing Service Models
  • What is Cloud Computing?
  • Cloud Computing and Social Networks in Mobile Space
  • ARM Processor Architecture
  • What Camera Mode to Choose
  • Indispensable MySQL queries for custom fields in WordPress
  • Windows 7 Speech Recognition Scripting Related Tutorials

Social Networks

  • Pinterest (24.3K Followers)
  • Twitter (5.8k Followers)
  • Facebook (5.7k Followers)
  • LinkedIn (3.7k Followers)
  • YouTube (1.3k Followers)
  • GitHub (Repository)
  • GitHub (Gists)
Looking to publish sponsored article on our website?

Contact us

Recent Posts

  • What Online Casinos Have No Deposit Bonus in Australia March 30, 2023
  • Four Foolproof Tips To Never Run Out Of Blog Ideas For Your Website March 28, 2023
  • The Interactive Entertainment Serving as a Tech Proving Ground March 28, 2023
  • Is it Good to Run Apache Web server and MySQL Database on Separate Cloud Servers? March 27, 2023
  • Advantages of Cloud Server Over Dedicated Server for Hosting WordPress March 26, 2023

About This Article

Cite this article as: Abhishek Ghosh, "What is Business Intelligence?," in The Customize Windows, January 8, 2020, March 31, 2023, https://thecustomizewindows.com/2020/01/what-is-business-intelligence/.

Source:The Customize Windows, JiMA.in

PC users can consult Corrine Chorney for Security.

Want to know more about us? Read Notability and Mentions & Our Setup.

Copyright © 2023 - The Customize Windows | dESIGNed by The Customize Windows

Copyright  · Privacy Policy  · Advertising Policy  · Terms of Service  · Refund Policy

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT