The Business Intelligence Definition Barely Scratches the Surface
Business Intelligence Definition Has Many Tech Experts Stumbling Over Their Words
The world of business technology is a fluctuating and complicated arena. While business technology does make business easier, the mechanics behind it have many stumped, and arguing about which sectors to include and what services they perform. The business intelligence sector is one of the most complicated in today’s computer-driven world, because there is so much that is included but some key actions and queries that are not.
What is the Business Intelligence Definition?
The technical business intelligence definition is a varied collection of applications, software, and hardware whose purpose is to collect, store, analyze, and monitor business data so that the company or organization can access and study it in order to make educated business decisions.
It seems simple enough to not cause such debate and confusion; the issue lies in how vague the definition is and its similarity to the definition for business analytics.
What is Included in the Business Intelligence Definition?
Business intelligence (BI) was first widely used in the mid-1990s, and has expanded rapidly to become the power behind nearly every medium to corporately-run company. Its storage can include data from one location or division to company-wide information, available for access in one place for easy analysis.
Business intelligence most commonly includes applications that collect data for purposes of query, statistical analysis, forecasting, goal setting, and online analytical processing.
What is Not Included & How Does it Differ from Business Analytics
Business intelligence and analytics are so similar that they are often mistaken for one another, and many experts question the need for both sectors. The main difference between business intelligence and business analytics is what questions are asked when it comes to analyzing the collected data.
For example, if a severe security breach is found in the system, business Intelligence analysts would ask questions like “What happened?”, “When did it happen?”, “Who is responsible?”, and “What is the extent of the damage?”
On the other, with the same security breach, business analytics analysts would ask, “Why did this occur?”, “Is it likely to happen again?”, “How would this have been different if we had changed one of the factors?”, and “Is there anything else in the data that can help prevent another breach?”
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