Business Intelligence or BI involves certain processes, technologies, and set-ups that transform raw data into valuable information that can allow businesses to take profitable actions. BI comes in the form of software and services that transform data into intelligence and actionable information.
For example, business intelligence tools help marketing departments track their campaign metrics through a centralized digital space. With the help of BI, teams can track campaigns on a real-time basis, measure performance, and establish their future campaigns accordingly. This allows better visibility to marketing teams as far as overall performance is concerned.
Why it matters
Business intelligence can help companies in identifying market trends and spotting business issues for timely resolution, as well as with data visualization to enhance the quality of decision making.