What is Business Intelligence and how can it boost company finances?
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I classify business intelligence as a blend of marketing and innovation. The higher the ability of these combined disciplines, the higher the intelligence. Marketing is about people and their beliefs, feelings and attitudes towards the world. Innovation is about seeing things as they have not been seen before, even though many of the elements may have been in plain view for a long time. One more key to business intelligence is the emotional intelligence of it's leaders. Women are progressing faster then ever before in business in no small part to the fact they haven't been conditioned to run away and hide from their feelings. Their biology and social conditioning enables them to deal with people in more practical ways than men are often able to do because of how disconnected they are from what makes them human: their feelings.
It is basically information and data that facilitate strategic decision making for a business.
Business Intelligence (BI) refers to skills, processes, technologies, applications and practices used to support decision making.
First, you have to provide what is nature of your business
Business intelligence is probably several different things to different people. The ultimate intelligence in my opinion is knowing your strengths and weaknessed. There are so many peices to put together in operating any kind of business. You need to put key people in key place to overcome your weaknesses.
It refers to computer-based techniques used in spotting, digging-out, and analyzing 'hard' business data, such as sales revenue by products or departments or associated costs and incomes. Business Intelligence often aims to support better business decision-making.
Total Answers: 7, Total Page Views: 423.Business intelligence is simply strategic thinking and research. Now some research may be illegal (thing insider trading), but most research is above board and simply takes insight and hard work.
The insights gained can give a company an edge. Any edge can be exploited as profitable.
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