Business Intelligence allows the decision maker to understand their business and the business environment to make important decisions. The main idea of Business Intelligence is increasing efficiency and turning your data to profit.
That process has some turns, which are:
1. Data turns into information,
2. Information turns into knowledge,
3. Knowledge turns into decision,
4. Decision turns into profit.
Users of BI
The potential user group for BI goes beyond the power users in the IT world to include deans and directors, mid and senior-level managers, key administrators, analysts, staff supervisors... Basically anyone involved with strategic direction and tactical ...view middle of the document...
• Metadata Management with data definitions in to the organization for areas like product or customer.
• Data Retention to maintain the proper level of information with a business intelligence platform.
A BI platform can perform analysis on the data to transform it into information. The Business Analytics should have the following levels:
• Simple Query Results – The ability to perform simple SQL queries on the data in the BI platform.
• Multi-Dimension Analysis – The ability to perform levels of multi-dimension analysis in a BI platform.
• Dynamic Forecasting – The ability to make adjustments to past events for future cases is “dynamic forecasting.”
• Descriptive Modeling – The ability to perform descriptive modeling is so important to Business Analytics. This modeling is using to group of sample or population. For example, groups proper for customer treatment is an application of descriptive modeling.
• Predictive Modeling – Descriptive modeling can be used to define the grouping for a specific treatment; predictive modeling can be used on individual members of that population.
Only MicroStrategy and SAP have predictive modeling, descriptive modeling and...