Business Intelligence
Business intelligence is a method used by companies to collect data and analysis to make quick and better decision. Thismethod is considered as a very important activity because it helps to make faster decisions. It emerges because companies needed better ways to manage information to get data analysis so they cando decision making.
Business intelligence technologies and processes allow companies to collect information and translate it into a human-readable, organized & accessible data compilation.An effective “Business Intelligence” companies can easily follow their own operations, customer’s activities patterns and industry trends. This helps companies to work with specific goals withconfidence.
The stages of Business Intelligence are:
1. Data.
2. Information.
3. Knowledge
The data collect is gathered and processed into information. This information need to be filteredand arranged into meaningful patterns. The obtain knowledge from the data analysis will help to form the business intelligence of the company.
Business Intelligence may vary across industries.Functional areas and particular processes under examination play a role in the type of data obtained and the level of knowledge sought. The most common functional areas include: sales andmarketing, human resources, operations and finance.
The departments of sales and marketing function is to track products, customers, demographics, promotions, sales force, order type, and other relatedfields. Human resources groups are focus on look to measure employee, organizational and departmental issues. Operation management domain is to assembly speed, warehouse stock, manufacturer andsupplier cost, and shift productivity. Finance will closely watch data on topics such as currency standards, account information and industry trends.
Levels of staff organization also come into
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