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Business Intelligence: A Path to Better Decisions and More Efficient Operations
Business Intelligence is defined as the knowledge gained through the access and analysis of business information.
Business Intelligence (BI) tools are designed to help organizations improve and speed up their processes, ultimately enabling them to make better and more informed decisions. Organizations that adopt BI typically become leaner, more efficient, and are able to function at a quicker pace. By processing and crunching data with BI tools and analytics, users interrogate and interactively analyze data, identifying trends and consolidating their information into more easily digestible data graphics and summaries.
A survey by Dresner Advisory Services found that, when looking across all market sectors, the two most common objectives organizations have when adopting BI tools are:
- Better decision making
- Improved Operational Efficiency
The Dresner report found that only a little more than a third (36 percent) of businesses surveyed have deployed any BI tools, and of those that have, typically less than 10 percent of employees within the organizations have access to the tools, although the numbers tended to be higher for organizations in North America. A majority of the organizations that have deployed BI tools report that their implementations have been successful.
Top BI technology tool priorities for organizations in 2013 include implementation of dashboards and better end-user self service operations, advanced visualization, and integration with data warehousing. Organizations also report interest in cloud-based and mobile-based BI tools.
