Business Intelligence: The need of transforming data to meaningful information
In the digital age, if information is wealth, then data is the currency. Smartwatches or internet service providers – the technology penetration into multiple facets of daily lives has transformed the sources and transmission of data inputs. However, the real question is: How can a business use this data to provide a tailor-made product for the end user? Experts at Bhavyam Inoftech , a global IT consulting firm based in Singapore, explain why Business Intelligence is the answer to this question:- What is Business Intelligence? (BI) In layman terms, Business Intelligence is defined as a collection of methodologies, technologies, applications, architectures, and processes that help in extracting useful information from raw data, which directly contributes towards the improvement of operations, business strategies, and decision making abilities. How does an organization execute BI? Data Warehousing, ad hoc reporting, discovery tools, and cloud data services from IT consulti