Business intelligence (BI) is the collection, research and utilization of data to help companies attain their goals. BI solutions can be used across multiple areas, including financial, marketing and manufacturing.

The objective of business intelligence is to deliver important information to critical decision makers and business kings so they can make prepared decisions about their businesses. It eliminates much of the “gut instinct” and guesswork that may be traditionally needed to make significant strategic decisions.

BI as well provides narrow benefits for individual departments within an institution, such as the capability to track project status and gather competitive intelligence in rivals. This runs specifically true in a competitive environment in which businesses have to work hard to stand out from other parts and bring in the trust with their customers.

Among the earliest BI functions is usually finding, collating and quality checking out data. BI teams then transform, shop and maintain these details on an regular basis, typically in directories. Ultimately, that they survey the results via dashes and other stations.