Directory of Business Intelligence Products and Services
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Information & Articles Directory of Providers of Business Intelligence Products and Services Business intelligence (BI) refers to skills, technologies, applications and practices used to help a business acquire a better understanding of its commercial context. The primary goal of Business Intelligence is to convert data into actionable information to organizations, so they can use it to make better business decisions than they could without it, and thus maintain, or preferably gain a better, competitive position in their industry. The more accurate and complete the data, the more opportunity there is to integrate it and the better the information that results from it. The information can be used in an operational sense to spot process and procedural opportunities for improvements within the business. Business Intelligence of a broader nature can also present product, pricing and marketing deficiencies and opportunities. Such BI capabilities will increasingly be a base level needed for a company to define and manage a competitive plan.
Common functions of business intelligence applications are reporting, OLAP, analytics, data mining, business performance management, benchmarks, text mining, and predictive analytics.
Business Intelligence 2.0 is a term referring to a new generation of Business Intelligence software that is more proactive than reactive. The first generation of Business Intelligence analyzed information involved in business oriented decisions while the next generation helps make decisions as or before events happen.
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Directory of Providers of Business Intelligence Products and Services
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