InstiMax - Business Intelligence
- Business Intelligence mainly refers to computer-based techniques used in spotting and analyzing business data, such as sales revenue by products and/or departments or associated costs and incomes.BI technologies provide historical, current, and predictive views of business operations.
"Business Intelligence often aims to support better business decision-making"
Thus a BI system can be called a decision support system and some of the benefits of such a system include: Generates new evidence in support of a decision Improves personal efficiency Expedites problem solving Promotes learning or training Increases organizational control Encourages exploration and discovery on the part of the decision maker Reveals new approaches to thinking about the problem space Helps automate the managerial processes.
A Gartner paper from 2009 predicted these developments in the market of business intelligence.
- Because of lack of information, processes, and tools, through 2012, more than 35 percent of the top 5,000 global companies will regularly fail to make insightful decisions about significant changes in their business and markets.By 2012, business units will control at least 40 percent of the total budget for business intelligence.By 2010, 20 per cent of organizations will have an industry-specific analytic application delivered via software as a service as a standard component of their business intelligence portfolio.