How effective are Business Intelligence (BI) tools for supporting Essay

How effective are Business Intelligence (BI) tools for supporting decision-making - Essay Example Includes database and application technologies, as well as analysis practices. Sometimes used synonymously with "decision support," though business intelligence is technically much broader, potentially encompassing knowledge management, enterprise resource planning, and data mining, among other practices. ...† (csumb, 2011) Trying to interpret the actual meanings of the term ‘intelligence’ and how it is evolved would give us a better understanding into the terminology of business intelligence itself. Generally, intelligence refers to the ability to understand, learn and evolve. Intelligence develops with every learning experience and input of every kind of information. Basic intelligence, when deployed in business environment is referred to as business intelligence. THE DISCUSSION: The capacity of human beings to incorporate prior instinctive and experience based knowledge to execute processes in order to achieve a particular objective is termed as intelligence. It ’s a virtual entity that encompasses all logical horizons. Business is also one of the natural and logical processes. Logic can be defined as a set of rules that governs executions. To discriminate a process as being logical or illogical one needs to be intelligent. This new perspective about intelligence gives a much understandable definition of Business Intelligence. BI would now be defined as, the capacity that enables businessmen to differentiate logical and illogical executions in a business.. This definition presents Business Intelligence as an umbrella that covers almost all the tasks performed under the tag of ‘businesses’. This paper emphasizes on the same notion with the discussion of multiple top notch business terms namely... The capacity of human beings to incorporate prior instinctive and experience based knowledge to execute processes in order to achieve a particular objective is termed as intelligence. It’s a virtual entity that encompasses all logical horizons. Business is also one of the natural and logical processes. Logic can be defined as a set of rules that governs executions. To discriminate a process as being logical or illogical one needs to be intelligent. This new perspective about intelligence gives a much understandable definition of Business Intelligence. BI would now be defined as, the capacity that enables businessmen to differentiate logical and illogical executions in a business.. This definition presents Business Intelligence as an umbrella that covers almost all the tasks performed under the tag of ‘businesses’. This paper emphasizes on the same notion with the discussion of multiple top notch business terms namely sales forecasting, market research and knowledg e management. The association of business intelligence with sales forecasting, knowledge management and Market Research brings new meanings to this seemingly simple business term. It is attempted to take a general look at the basic definitions of each of the above mentioned terms before looking at their comparative involvements and meanings.