Business intelligence (BI) is the ability of an organization to collect, maintain, and organize data. This produces large amounts of information that can help develop new opportunities. Identifying these opportunities, and implementing an effective strategy, can provide a competitive market advantage and long-term stability.
The goal of modern business intelligence deployments is to support better business decision-making. Thus a BI system can be called a decision support system (DSS). BI uses technologies, processes, and applications to analyze mostly internal, structured data and business processes while competitive intelligence gathers, analyzes and disseminates information with a topical focus on company competitors.
Business intelligence and data warehousing:
"Business Intelligence is a set of methodologies, processes, architectures, and technologies that transform raw data into meaningful and useful information used to enable more effective strategic, tactical, and operational insights and decision-making." When using this definition, business intelligence also includes technologies such as data integration, data quality,data warehousing, master data management, text and content analytics, and many others that the market sometimes lumps into the Information Management segment.
Other business intelligence trends include the following (Areas to Ponder).
- Third party SOA-BI products increasingly address ETL issues of volume and throughput.
- Cloud computing and Software-as-a-Service (SaaS) are ubiquitous.
- Companies embrace in-memory processing, 64-bit processing, and pre-packaged analytic BI applications.
- Operational applications have callable BI components, with improvements in response time, scaling, and concurrency.
- Near or real time BI analytics is a baseline expectation.
- Open source BI software replaces vendor offerings.
Much Interesting Study is available in Wikipedia.