Big Data Glossary
What is Business Intelligence?
Definition of Business Intelligence (BI)
What is Business Intelligence (BI)?
Business Intelligence (BI) is a set of technologies, applications, and practices used to analyze and report on business data to support decision-making. It involves the use of data, statistical models, and visualizations to gain insights and make data-driven decisions.
BI process typically includes the following steps:
- Data collection: Collecting data from various sources such as databases, files, and APIs.
- Data cleaning: Removing or correcting inaccurate or incomplete data.
- Data analysis: Analyzing the data and identifying patterns, trends, and insights.
- Data visualization: Creating visualizations such as charts and dashboards to communicate insights and results.
BI can be used in various fields such as finance, healthcare, retail, and manufacturing to extract insights and improve decision-making. Some popular BI tools include Tableau, Power BI, and Looker.
It is important to note that BI requires a good understanding of the problem, data, and the model selection to achieve good performance. It also requires good communication skills to effectively communicate the findings and insights to the stakeholders. BI is a key component of Data Governance and is used to ensure that the data is used ethically and legally.
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