20 Nov 2022| Artificial Intelligence
Business Intelligence- Architecture, Components and its Benefits
What is Business Intelligence?
Business intelligence (BI) are the tools that deploys technologies, applications and practices to collect, integrate, analyze and present business information.
They are data-driven decision support systems (DSS) that informs about an organization’s strategic and tactical business decisions.
They offer past, current and predictive views of business operations mostly by using data gathered into a data warehouse and occasionally working from operational data. After accessing and analyzing large datasets, Business Intelligence (BI) tools present analytical findings in various forms- reports, dashboards, charts, graphs and maps to offer users the detailed intelligence about the state of the business. But that’s not all about BI. It offers a gateway for users to examine data, understand trends and make a sound business decision by streamlining their efforts.
They are also employed to provide the quick and easy-to-understand insights about a business’s current state, based upon the data available.
Examples of BI
Business intelligence architecture is the framework that organizations deploy for collecting data, administering of information and supporting all the technologies of business intelligence. A successful business intelligence tool depends majorly upon a sustainable architecture. The process of creating a BI architecture is divided into three areas:
Components of BI:
There are five components of Business Intelligence. They are:
Benefits of BI:
Organizations can use BI tools at any stage to analyze, manage and visualize business data through which they can stay relevant and maximize their revenue streams. Following are the key benefits of BI:
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