Business intelligence meaning
Types of business intelligence
Data analysis: The core of business intelligence is focused on descriptive and diagnostic analytics, which answers questions of where your company has been, where it is now, and why things are the way they are now.
BI tools need to be able to draw from data storage to conduct these different types of analyses..
What is the meaning of business intelligence?
Business intelligence (BI) refers to the procedural and technical infrastructure that collects, stores, and analyzes the data produced by a company's activities.
BI is a broad term that encompasses data mining, process analysis, performance benchmarking, and descriptive analytics.Oct 30, 2022.
Where did business intelligence come from?
The first use of the term “business intelligence” is widely attributed to Mr.
Richard Miller Devens, in his book Cyclop\xe6dia of Commercial and Business Anecdotes, first published in 1865..
Where is business intelligence used?
Business intelligence for marketing
In the marketing department, BI can be used to uncover trends and guide the development of marketing campaigns.
As the campaigns are completed, Phocas can be used to assess the campaign's effectiveness.
Having an accurate assessment allows your team to optimize your marketing budget..
What is business intelligence? Business intelligence combines business analytics, data mining, data visualization, data tools and infrastructure, and best practices to help organizations make more data-driven decisions.
Main activity of an organization
The core business of an organization is an idealized construct intended to express that organization's main or essential activity.
Type of business intelligence
Financial intelligence is a type of business intelligence constituted of the knowledge and skills gained from understanding finance and accounting principles in the business world and understanding how money is being used
.
Although a fairly new term, financial intelligence has its roots in organizational development research, mostly in the field of employee participation.
Financial intelligence has emerged as a best practice and core competency in many organizations leading to improved financial results, increased employee morale, and reduced employee turnover.
Many organizations include financial intelligence programs in their leadership development curriculum.
Financial intelligence is not an innate skill, rather it is a learned set of skills that can be developed at all levels.
Information about the weapons and technological capabilities of a foreign adversary
Technical Intelligence (TECHINT) is intelligence about weapons and equipment used by the armed forces of foreign nations.
The related term, scientific and technical intelligence, addresses information collected or analyzed about the broad range of foreign science, technology, and weapon systems.
