Business Intelligence

Business Intelligence

Introduction

Business intelligence is referred to as a collection of several methodologies, theories, , architectures, processes and technologies that covert raw data in to useful and meaningful information for the business use. Business intelligence is capable to handle large amount of data in order to develop and identify new opportunities. Utilization of new opportunities and the application of an effective policies and strategies can bring a competitive market benefits and continuing stability. The technologies of business intelligence offer current, historic and predictive views of business processes (Vercellis, 2011).

Discussion

Business Intelligence (BI)

Business intelligence is referred to as a collection of several methodologies, theories, theories, architectures, processes and technologies that covert raw data in to useful and meaningful information for the business use. Business intelligence is capable to handle large amount of data in order to develop and identify new opportunities. General functions of BI technologies are analytics, process mining and data mining, complex event processing, BPM, text mining, prescriptive analytics and predictive analytics (Wurtzel, 2012).

How to Recognize Need of BI?

Business intelligence (BI) plays a vital role in the progress and development of the business. The software of BI is used to track data which is provided by the company that is using the software. A company can retrieve, store and analyze the data. A company can easily recognize the need of BI in an organization by observing lack of visibility into the operations of the company and in its finances. The need of instant data recovery can also motivate a company to implement BI in their organization (Wurtzel, 2012).

Jamba juice is one of the best restaurants in California. They faced a problem about various operations of their company. The instant retrieval of data was one of the main tasks for them, which was highly influencing the performance of their ...