Question

Explain what Business Intelligence is and highlight how it is likely to bring a business if executed properly.

Answer 1

Solution :   Business Intelligence is a strategy, tool, technology, application, process, or architecture which helps in making the better and more informed business decisions as well as actions. Business Intelligence is helpful for making profitable business actions with the help of analyzing intelligence and knowledge of the business raw data / information.

When we execute it properly, It provides several benefits for the business :

(a) Business Intelligence helps in converting the business raw and historical data / information into meaningful, tactical, wise, and operational reports and dashboards under both time and budget constraints.

(b) It improves the summaries, inferences and several types of reports which results in more profit and more market capitalization value of the business.

(c) Apart from this, Business Intelligence is helpful for data visualization which enhances the data quality for identifying global market trends and global market and business issues.