Business Intelligence (or simply BI) is a broad category of technological tools that help store data so people can access and analyze the information to make the most effective decisions. It is especially useful for managers when making critical decisions within their organization. In fact, there are lots of people who rely on BI in their daily occupations such as accountants, marketers, and human resource managers to name a few in a business context. Others that also gain from using BI are hospitals and retailers.
BI can be used for an array of tasks such as data analysis and data mining. And can be used to help with strategic planning and decision-making such as OLAP (online analytical processing) and DSS (decision-making systems). And while BI cannot help in every managerial situation (such as "unstructured" decision-making tasks), it is still an undeniable benefit to any entity of any size. From small start-ups to big corporations.
Gray, H., Issa, T., Pye, G., Troshani, I., Rainer, R. K., Prince, B., & Hugh, J. W. (2015). Management
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Nice work again Gen! For this weeks post I really liked how you included the importance of Business intelligence within the workplace, really relating it to careers we as business students may aspire to pursue.
ReplyDeleteWell Done Gen! Business Intelligence indeed encompasses a wide range of technological tools aimed at storing, accessing, and analyzing data to facilitate effective decision-making.
ReplyDeleteNice post, I like that you highlighted "BI cannot help in every managerial situation (such as "unstructured" decision-making tasks)". It shows clear knowledge of the subject. Nice work.
ReplyDeleteGreat job. very knowledgeable and easy to understand
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