We live in the age of information…and information is power! The bad thing is we are now often buried under information. It’s difficult to make sense of it without any special tools.
It’s not only the age of information. We also live in a high-tech age, surrounded by ever developing technology that generates loads of abbreviations. One of the abbreviations that you have probably come across is BI – it’s a short for Business Intelligence.
It is a very general concept and sometimes it is difficult to see clearly what is hidden behind the words. Business Intelligence is a solution. A solution that is extremely helpful when having to make critical decisions. Well, not only the critical ones! The life of a manager on whichever level is full of everyday decisions. BI uses data about yesterday and today to make better decisions about tomorrow.
A very short but fitting definition is: “Business Intelligence is essentially timely, accurate, high-value, and actionable business insights, and the work processes and technologies used to obtain them.”