Benefits of business intelligence

Business intelligence, or BI, is an umbrella term that refers to a variety of software applications used to analyze an organization's raw data. Bl as a discipline is made up of several related activities, including data mining, online analytical processing, querying and BUSINESS INTELLIGENCE reporting. This helps organizations to synchronize their departments and enable effective communication. Contributions of Business Intelligence Business Intellignce has revitalized business operations, from order processing to delivery, from finace to human resource, all departments of a firm make an effective use of BI tools. 77% 73% 69% 52% 71% 71% 70% Customer Competitive Product Brand Sales Cost Operations Support Review Development Awareness Processes Management INTERESTING FACTS 13.5% of firms completely rely on BI while 30% of the worlds organizations have partial usage of Only 27% of organizations use information better than their competitiors BI tools 74% of firms find it difficult to define business BI expenditures are lowered by 16% when organizations have a formal Bl competency center in place requirements High performing companies are 50% more likely to use analytic information strategically USAGE ACCORDING TO FUNCTIONAL DEPARTMENTS |1% 16% 4% 4% Marketing Business Unit Finance HR 6% 6% 63% Operations Data Service IT Department