Business Intelligence, Analytics, and Data Science: A Managerial Perspective
Business Intelligence, Analytics, and Data Science includes the strategies and technologies used by companies for data analysis of business information. BI technologies provide a historical, current and predictable view of business operations.
Business Intelligence (BI) refers to the procedural and technical infrastructure that collects, stores and analyzes the data produced by the business's business. BI is a broad concept that includes data mining, process analysis, benchmarking of performance and descriptive analysis.
Business Intelligence (BI) combines business analysis, data mining, data visualization, computer tools and infrastructure and best practices to help organizations make more data-driven decisions. In practice, you know you have modern business intelligence when you have a complete overview of your organization's data and use that data to drive change, eliminate inefficiency, and quickly adapt to changes in your market or market.
It is important to note that this is a very modern definition of BI, and BI has a strangled history as a buzzword. Traditional Business Intelligence, by and large, originated in the 1960s as a system for sharing information between organizations. It then evolved in the 1980s along with IT models for decision making and transformation of data into information before becoming a specific offering for BI teams with IT-based service solutions. Modern BI solutions prioritize flexible self-service analysis, managed data on reliable platforms, authorized business users and speed to get information. This article will serve as an introduction to BI and is the tip of the iceberg.