The Essentials of Business Intelligence

Business Intelligence is becoming increasingly important in today's society. The international world is complex and requires lots of different ways of looking at the same information to discover something new. Raw data in some cases without a matrix for understanding it can be difficult or even impossible for the average executive. However, as we use principles of BI we can explore, define, and create methodologies for dealing with complexity to create better decisions with longer positive outcomes.

According to the article Literature Review of Business Intelligence conducted by the authors business intelligence (Heang & Mohan, 2017) there are some key factors that come up in the literature search.

1. Business Intelligence Definition. There Are different definitions but gather, change, and present organized information from various sources are some of the essential.

2. Data, Information, and Knowledge

• Data: Structured codification of single primary entities and/or transaction between 2 or more primary entities.
• Information: Extraction and processing of data.
• Knowledge: Information to make decisions.

3. Business Intelligence Architectures. How business is constructed. See pyramid 

Business Intelligence

4.Business Intelligence Capabilities. The organization should be suited to business intelligence and able to use that intelligence for capabilities. Not all organizations do well using intelligence effectively.

• Data Quality
• Integration with other Systems
• User Access
• Flexibility
• Risk Management Support

5. Enabling Factors in Business Intelligence. Different factors influence the success of business intelligence.

• Technologies
• Analytics
• Human Resources

Business intelligence relies on the scientific method and the ability to collect and understand strong/good data. Unique problems often don't follow prescribed patterns of data collection and analysis and need equally unique methodologies. Exploratory/qualitative research helps you find and describe the nature of problems while analytic/quantitative data helps develop appropriate causality. Abel Business Consulting helps find unique solutions to difficult business problems. An outside perspective can go a long way in defining those problems, exploring their nature, and finding lasting strategic solutions in ways that were not previously available. Research and solutions can be focused for individual businesses or long-stemming industry problems. Initial consultation is free. http://www.abelbusinessconsulting.com/ or Email Abel Business Consulting

Carlo, V. (2009). Business Intelligence: Data Mining and Optimization for Decision Making. Politecnico di Milano, Italy; John Wiley & sons Ltd. 

Heang, R. and Mohan, R. (2017). Literature Review of Business Intelligence. Retrieved March 27th, 2022 from https://www.diva-portal.org/smash/get/diva2:1080911/FULLTEXT01.pdf