Business Intelligence basically represents the tools and systems that play a key role in the strategic planning process of the corporation. These systems allow a company to gather, store, access and analyze corporate data to aid in decision-making.
Generally these systems illustrate business intelligence in the areas of customer profiling, customer support, market research, market segmentation, product profitability, statistical analysis, and inventory and distribution analysis.
Most companies collect a large amount of data from their business operations. To keep track of that information, a business would need to use a wide range of software programs, such as Excel, Access and different database applications for various departments throughout their organization.
It is a software which is designed for extracting important data from an organization’s raw data to reveal insights to help making business faster and more accurate decisions. The software typically integrates data from across the enterprise and provides end-users with self-service reporting and analysis. They basically use a number of analytics features including statistics, data and text mining and predictive analytics to reveal patterns and turn information into insights.