Comment this paragraph ? many organizations are adopting business intelligence a
ID: 3876988 • Letter: C
Question
Comment this paragraph ?
many organizations are adopting business intelligence as a broad category of applications and technologies for gathering information to learn from the experience as well as analyzing data to enhance the process of decision-making and predict the future. Business intelligence consists of several integrated components that generate a comprehensive knowledge of business such as OLAP (On-line Analytical Processing) which provides multidimensional summarized perspectives of business data and OLAP are used for reporting, analysis, modeling and planning to enhance business performance. Advanced analytics is another component of BI which specialized in data mining and predictive analytics to improve accurate measurements. Real-time BI permits the real-time distribution of metrics through emails or interactive displays. Data warehouse and data marts are the critical components of BI. The data warehouse supports handling the numerous enterprise records for integration and query tasks. A data mart is a collection of subject areas organized for supporting decisions (Ranjan, 2016).
Explanation / Answer
Ans:
what you have mentioned in the paragraph are features provided by Business intelligence (BI) is a technology-driven process for analyzing data and presenting actionable information to help executives, managers and other corporate end users make informed business decisions.
Online analytical processing, or OLAP, is an approach to answering multi-dimensional analytical (MDA) queries swiftly incomputing. OLAP is part of the broader category of business intelligence, which also encompasses relational database, report writing and data mining.
The potential benefits of business intelligence tools include accelerating and improving decision-making, optimizing internal business processes, increasing operational efficiency, driving new revenues and gaining competitive advantage over business rivals. BI systems can also help companies identify market trends and spot business problems that need to be addressed.
BI data can include historical information stored in a data warehouse, as well as new data gathered from source systems as it is generated, enabling BI tools to support both strategic and tactical decision-making processes.
Initially, BI tools were primarily used by data analysts and other IT professionals who ran analyses and produced reports with query results for business users. Increasingly, however, business executives and workers are using BI platforms themselves, thanks partly to the development of self-service BI and data discovery tools and dashboards.