The volatility of the markets means that decision-making cycles must be drastically shortened and the provision of information for planning and analysis must be made consistent and continuous.
Knowing what is going on in companies means turning structured and unstructured data into structured information. Business Intelligence (BI) and Data Science provide the methods & tools for this.
But with more than 100 solutions, the market for BI software is confusing and the functional features of Business Intelligence products vary widely.
Business Intelligence (BI) | Reporting | Dashboarding | Analysis | Planning | Consolidation | Data Warehouse | Risk Management & Compliance | Relational Database System | Multidimensional Database System
Information systems that analyse and process company data and thus support management in decision-making. Examples are Online Analytical Processing (OLAP), Management Information Systems (MIS) and Executive Information Systems (EIS).
All applications that provide, evaluate and report relevant data. Analysis-oriented BI also includes, for example, solutions for data mining and text mining, ad-hoc reporting, and other reporting programs.
In the broadest sense, Business Intelligence (BI) does not only include data preparation and data storage, but also tools for its evaluation and presentation. In other words, all applications that are used directly and indirectly for decision-making.