Business intelligence (BI) is the set of techniques and tools for the transformation of raw data into meaningful and useful information for business analysis purposes.
BI can be used to support a wide range of business decisions ranging from operational to strategic.
Business intelligence is made up of an increasing number of components including:
Multidimensional aggregation and allocation
Denormalization, tagging and standardization
Realtime reporting with analytical alert
A method of interfacing with unstructured data sources
Group consolidation, budgeting and rolling forecasts
Statistical inference and probabilistic simulation
Key performance indicators optimization
Version control and process management
Open item management
A new generation of business intelligence emerges as the expectation for user-friendly analytics and the expertise to ask and answer questions with data continues to grow. The wave of innovation is far from over.
The top trends in business intelligence for 2015, including:
Data governance becomes a key area of focus
The social intelligence competitive advantage balloons
Self-service rapidly spreads throughout departments and organizations
Data journalism magnifies
Cloud analytics isn’t just for cloud data anymore
Romano Pisciotti : Business intelligence