Business Intelligence Specialist

In: Business and Management

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1.
BI definition and how it adds value to business

Business intelligence is a set of theories, methodologies, processes, architectures and technologies that transform row data into meaningful information for business processes. The most important functions of BI are reporting, online analytical processing, analytics, data mining, process mining, complex event processing, business performance management, benchmarking, text mining, predictive analytics and prescriptive analytics.

BI can be applied in the following business processes, in order to add business value: * Measurement - create hierarchy of performance metrics in order to inform managers about the progress toward the goals * Analytics - build quantitative processes for a business to arrive at knowledge discovery * Reporting - build the infrastructure for strategic reporting * Knowledge management - identifies, creates, represents and distributes insights that are true business knowledge.

Who uses BI?

Business intelligence is used by decision makers throughout the firm. At senior managerial levels, it is the input to strategic and tactical decisions. At lower managerial levels, it helps individuals to do their day-to-day job.

According to Gartner, BI supports strategic decision making in the following areas: * Corporate performance management * Customer relationship optimization, business activity monitoring, traditional decision support * Supporting of BI applications for operations or strategies * Management reporting of business intelligence

BI components

Business Intelligence is a natural outgrowth of the systems that previously supported decision making. Some of the information systems it includes now are: OLAP (On Line Data Processing), CRM (Customer Relationship Management), DSS (Decision Support Systems), GIS (Geographic Information Systems),…...

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