Business Intelligence (BI) comprises the strategies and technologies used by enterprises for the data analysis of business information. BI technologies provide historical, current and predictive views of business operations. BI technologies can certainly handle large amounts of structured and unstructured data to develop and create new strategic business opportunities. They aim to allow for the natural interpretation of these big data. Identifying new opportunities and implementing an effective strategy based on insights can provide businesses with a competitive market advantage and long-term stability.
Business intelligence can be used by enterprises to support a wide range of business decisions – ranging from operational to strategic. Necessary operating decisions include product positioning or pricing. Strategic business decisions involve priorities, goals and directions at the broadest level. In all cases, BI is most effective when it combines data derived from the market. In that case which a company operates (external data) with data from company sources internal to the business such as financial and operations data (internal data). When combined, external and internal data can provide a complete picture which, in effect, creates an “intelligence” that cannot derive from any single set of data.
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Freelance – BI Consultant with SAP BO – European Institutions – Brussels
2 years ago
BI Consultant with SAP BO – European Institutions – Brussels
2 years ago
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