1. What Is the Purpose of Business Intelligence in a Business?

The main purpose of Business Intelligence in a business is to help corporate executives, business managers and other operational workers make better and more informed business decisions. Companies also use BI to cut costs, identify new business opportunities, and spot inefficient business processes ripe for re-engineering.

2. What Is Business Intelligence (BI)?

Business Intelligence (BI) refers to the tools, technologies, applications and practices used to collect, integrate, analyze, and present an organization’s raw data in order to create insightful and actionable business information.BI as a discipline and as a technology-driven process is made up of several related activities, including:

1. Data mining
2. Online analytical processing
3. Querying
4. Reporting

3. What Are the Benefits of Using Business Intelligence?

Since you’re already aware what is the purpose of Business Intelligence in a business it’s worth tackling the question of what are its main benefits. The potential benefits of business intelligence programs include:

1. Accelerating and improving decision making
2. Optimizing internal business processes
3. Increasing operational efficiency
4. Driving new revenues
5. Gaining competitive advantages over business rivals.
6. Identifying market trends
7. Spotting business problems that need to be addressed