Try to pinpoint a definition of Business Intelligence. Not simple is it?
Business Intelligence is a popular and often used term that covers the technology, software, concepts and methods used to improve business decision making. However, it is very difficult to get it down to a few meaningful sentences which capture everything that is Business Intelligence.
Wikipedia defines it as follows:
“Business intelligence (BI) refers to technologies, applications and practices for the collection, integration, analysis, and presentation of business information and sometimes to the information itself.”
Business Objects uses the following definition:
“Business Intelligence is the use of an organization’s disparate data to provide meaningful information and analysis to employees, customers, suppliers, and partners for more effective decision making.”
Outlook Business Intelligence, a specialist Business Intelligence consulting firm, perhaps describes Business Intelligence as clearly and non-technical as we think possible.
Its definition is:
“Business Intelligence is all about delivering key information to the people that need it – quickly and efficiently.”
All three definitions are in fact correct. One can not argue against any of these definitions. Business Intelligence is all about:
1. Delivering key information to the people that need it quickly and efficiently
2. Pulling together disparate data sources
3. Analysing the data to provide meaningful information
4. Presenting the data in a variety of output formats depending on the target reader
The fact is, no matter how hard you try, it is virtually impossible to come up with a simple definition of Business Intelligence. It covers so many areas! There are even short courses available with the title ‘What is Business Intelligence?’
So, the next time you have Business Intelligence consultants on site, ask them to give you a definition and see what they come up with!