Business Intelligence

Business intelligence (BI) is the process of making information from an organization's data more accessible and understandable to its various stakeholders. This means that BI can be used for a variety of purposes, such as making sense of the company's financials, understanding customer behavior, and evaluating a company's performance against competitors.

The term "business intelligence" was coined in 1990 by David M. Upton from Gartner Group. It is often abbreviated as "BI".

Business Intelligence is an umbrella term for different types of tools that provide business managers with insights into their organizations' performance and information about how they compare with their competitors.

A business intelligence system is a system that captures, stores, analyzes and reports business information in an efficient way. It provides information about what has happened within the organization as well as outside factors that may affect its future performance.

Business Intelligence is a broad term which includes many sub-categories such as: descriptive analytics (describing what happened), predictive analytics (predicting what will happen)

A business intelligence tool typically involves gathering data from one or more sources, transforming it into a useful format, then presenting it to users in many different ways so they can make better decisions about what to do next.

Merchstation provides business intelligence through a graphically based dashboard.  It's intention is to show information that is actionable.  That is, to quickly identify areas that need attention and have actionable steps.

 

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