Business Intelligence (BI) focuses on two key words: data analysis and business information. Companies that use business intelligence analyze large amounts of ‘raw’ data with the aim of obtaining valuable information for making strategic and operational business decisions (business insights). This so-called raw data usually comes from different software systems within the company, such as an ERP, HRM, DMS or specialized financial software. Examples of raw data: sales data, market trends, financial results, etc.
For business intelligence to succeed, sufficient data must be analyzed. The IT department can ensure that the right data is extracted in the right way from the various internal software systems. A simple BI step-by-step plan looks like this:
- Extraction of required data from the various software systems.
- Analysis of the data.
- Converting raw business data into valuable information.
- Acting on the basis of the newly obtained business insights.
Sectors where we apply Business Intelligence
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