Business Intelligence Write For Us
Business Intelligence (BI) encompasses organizations’ strategies and technologies to analyze data and manage business information. Typical business intelligence functions include reporting, online analytics processing, analytics, dashboarding, data mining, process mining, complex event processing, performance management tasks, benchmarking, text mining, predictive analytics, and prescriptive analytics.
Tools can process large amounts of structured and sometimes unstructured data to help identify, develop, and create strategic new business opportunities. Their goal is to allow easy interpretation of these large data sets. Recognizing new opportunities and implementing an effective information-based strategy can give companies a competitive advantage in the marketplace long-term stability and help them make strategic decisions.
Definition
According to Solomon Negash and Paul Gray, business intelligence (BI) can be defined as systems that combine:
- data collection
- data storage
knowledge management
With analytics to evaluate complex business and competitive information to present to planners and decision-makers and to improve the timeliness and quality of the input into the decision-making process.
According to Forrester Research, business analytics is “a set of methodologies, processes, architectures, and technologies that transform raw data into meaningful, actionable information to enable strategic, tactical, and strategic insights and more efficient decision-making.” [ 12] According to this definition, business intelligence includes information management (data integration, data quality, data warehousing, master data management, text and content analysis, etc.).
Therefore, Forrester defines data preparation and consumption as two distinct but closely related segments of the business intelligence architecture.
Data
Business processes can generate large amounts of data through emails, memos, call centers, messages, user groups, chats, reports, web pages, presentations, image files, video files, and marketing materials. According to Merrill Lynch, over 85% of all business information is in these formats; A company can only use such a document once. Depending on how this information is created and stored, it is unstructured or semi-structured.
The management of semi-structured data is an unsolved problem in the IT sector. Gartner (2003) predicts that knowledge workers spend 30-40% of their time researching, finding, and evaluating unstructured data. BI uses both structured and unstructured data. The former is easy to find, and the latter contains a large amount of information necessary for analysis and decision-making.
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