Data (raw facts or unprocessed bits of information) is what organizations accumulate, define, handle and store. Data turns into information through interpretation, elucidation and context. It becomes an organizational asset when it is used for skilled decision-making through the use of business intelligence tools and technologies. Data provides value when it is of good quality, profitable, well-timed and accurate.
Of late, BI uses a variety of technologies, processes, and applications to analyze critically mostly internal, structured data and business processes, although external and unstructured data is of utmost emphasis and being compiled in “big data” efforts.
Business Intelligence. BI is data-driven decision-making. It includes the generation, accumulation, analysis, and visualization of data to inform and expedite business management and strategizing. BI goes beyond the data to include what business leaders actually do with the insights they glean from it. Business intelligence uses data analysis tools and applications to help business users make more smarter decisions If BI is about making decisions, analytics is about asking questions Increasingly, however, business executives and workers are using BI software themselves, thanks partly to the development of self-service BI and data discovery tools.
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