Business Intelligence guide

Business intelligence can be defined as a set of business processes designed to garner and analyze business information. It is a vast category of application of programs that includes providing access to data to help an entrepreneur in his business decisions, task of query and reporting, online analytical processing (OLAP), statistical analysis, forecasting and data mining.

Big and small companies collect information to assess the business environment i.e. to acquire a sustainable competitive advantage in the business environment and also cover the areas of marketing research, industry research and competitive analysis. Every business intelligence system has a particular purpose (be it short term or a long term purpose) based on a vision statement or organizational goal.

Business intelligence involves different strategies. The BI task can be handled with the aid of application software. Application software is broadly categorized under class of computer software that enables a computer to function in accordance with what the user desires. The application software is different from the system software that integrates different capabilities of the computer but these are not directly applied to the benefit of the user. The application software is designed to help people be prudent in taking decisions by imparting them accurate, current and requisite information. This is precisely the reason that business intelligence is also referred to as