Business Intelligence

Data Analytics: Administered through Business Intelligence (BI) software which is a set of tools used by businesses to retrieve, analyze and transform data into useful business insights.

Examples of business intelligence tools include data visualization, data warehousing, dashboards, and reporting. In contrast to competitive intelligence, business intelligence software pulls from internal data that the business produces, rather than from outside sources. As Big Data has gained in prominence, so has the popularity of BI software. Companies generate, track, and compile business data at a scale never before seen. But all this data is nothing if we can’t make sense of it and use it to improve business outcomes. To make informed choices, businesses need to base their decisions on evidence. The mountains of data that businesses and their customers produce contain evidence of purchasing patterns and market trends. By aggregating, standardizing, and analyzing that data, businesses can better understand their customers, better forecast revenue growth, and better protect themselves against business pitfalls.