Business intelligence (BI) is a procedure that enables businesses to make smart decisions through data. It is a key function that helps companies to develop and contend in the market.

BI is essential with respect to survival in today’s competitive environment, and it provides the necessary information to help organizations discover new developments and chances. It also allows organizations evaluate their own capabilities, strengths and weaknesses in comparison with competitors.

To make a strong and effective business intelligence system, the project should be well-defined, possess a straightforward methodology, be managed by both the specialized and the organization side, and possess clear desired goals. Moreover, the solution should be do it yourself and flexible as it enables scalability with respect to growing demands of a business.

The BI lifecycle features the following levels:

Gathering, Evaluation and WarehousingDuring the gathering stage, relevant data is definitely extracted coming from various sources such as consumer databases, worker files, economic records, inventory records, sales studies, and so on. The results is then reviewed to discover ideas and trends that will lead to improvements in the business businesses.

The next level is the storage area of that info in a data source. This is a step that involves the utilization of data facilities to store data from every one of the sources in one place.

Analytics: Conclusion: BI analysts make use of a variety of equipment to extract insights via data. Some examples are data visualization software, info mining equipment and on line analytical control (OLAP).