Business Intelligence (BI) signifies the tools and systems that play a key role in the strategic planning process within an organization. It refers to a set of approaches and techniques that are used by organizations for tactical and strategic decision making. It leverages technologies that focus on counts, statistics and business objectives to improve business performance. BI can be thought of as a data refinery that turns data into actions and business value. Smart companies in the 21st century use business intelligence (BI) solutions to gain a stronger picture of their internal operations, customers, supply chain, and financial performance. They also derive significant ROI by using BI to devise better tactics and plans, respond more effectively to emergencies, and capitalize more quickly on new opportunities.
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Upon completion of the BI training course, you will be able to:
Business Intelligence BI) refers to technologies and methods used to analyse business information. The basic purpose of Business Intelligence is to bring about better decision making by identifying new opportunities and implementing effective strategies.
A business analyst is required to: 1. Understand the requirements of the project stakeholders 2. Identify the possibilities of the system 3. Generate, translate and simplify requirements 4. Plan and monitor 5. Maintain systems and operations
A Business Intelligence Analyst earns an average salary of $84,367 per annum as per a survey conducted by Indeed.
Business Intelligence Developers are data experts who work with databases and software. The job includes responsibilities such as developing and managing IT solutions. Besides these, Business Intelligence Developers are also responsible for research and planning solutions for issues arising in businesses.
Business Intelligence is the process of transforming data into information and that information into knowledge. Data scientists use BI tools to generate and analyse data in order to take better decisions for businesses. On the other hand, data mining refers to analysing large data sets to identify insightful trends and patterns. This huge volume of data often make data scientists overlook main parameters which could have helped businesses excel.