[Term of the Day]: Business Intelligence
Term of the Day
“Business Intelligence”
Definition — What is Business Intelligence?
Business intelligence (BI) is a technology-driven process used by the organization to analyze data and business information. It encompasses a set of processes, architectures, and technologies that convert raw data into meaningful information, which provides clear insights to managers and other authorities in strategic decision making.
The processed data received through Business intelligence tools can play a crucial role in evaluating current business processes and analyze competitor's strategies. The latest BI tools are interactive and more approachable they feature data visualization and creating customized dashboards for multiple levels of users. Data visualizations show data in a way that is more accessible and understandable. Visualizations compiled into dashboards can quickly tell a story and highlight trends or patterns that may not be discovered easily when manually analyzing the raw data.
Business Intelligence and Business Analytics are often used interchangeably. Since Business Intelligence focuses on current situations and Business Analytics determines future situations, combining the two can improve the way an organization reaches current and future business solutions.
Business intelligence is continually evolving according to business needs and technologies. BI powered ZOHO Analytics(Cloud) and ME Analytics Plus(On-Premise) can be seamlessly integrated with ManageEngine ServiceDesk Plus. You can visually analyze your ServiceDesk Plus data, and create insightful reports and dashboards. Share reports together with your colleagues and collaboratively analyze them.