What is Business Intelligence all about?

We are a new age workforce refusing to be tied down to a single domain or be typecast as a nerd herd. In our quest to supplement our technical skill with a business pillar, we have been suggested different practices that we can adopt. By far the most heard of would be ‘Business Intelligence’. Have you ever wondered what exactly does it mean?

Simply put, it is the use of software tools to process and transform raw data into helpful information from which business solutions can be derived.

Let’s take a closer look at this.

What we understand by this is that it is essentially the use of computer models and software applications to analyze the internal and external data of a company to aid in decision making. The approach is holistic, in the sense that all the existing data is considered and the result gives a wholesome picture than the one obtained through the analysis of a singular set of data. That sounds like quite a lot of work doesn’t it? What you see below are the elements of BI which simplify and modulate the process:

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