Business intelligence (BI) is about pulling together information from multiple sources inside and outside an organization to understand how the business is performing. Those details can then be used to make informed business decisions. BI provides valuable insights through trend analysis and predictive analytics.
BI can transform an organization, increasing the overall competence of its workforce. When people become more knowledgeable about their jobs, businesses can perform better. Access to relevant business information – key performance indicators (KPIs) – increases each individual’s awareness of his or her role in the business and frees up time and energy to execute goals and tactics that impact the company’s performance.