Question: Read the article below and answer ALL the questions that follow. Business Intelligence ( BI ) refers to the set of strategies, technologies, and tools
Read the article below and answer ALL the questions that follow.
Business Intelligence BI refers to the set of strategies, technologies, and tools used to collect, analyze, and present data
in a meaningful and actionable manner for the purpose of making informed business decisions. It involves the gathering
and processing of data from various sources within an organization, as well as external data, to generate insights and
support decisionmaking at different levels of the organization. BI encompasses processes such as data integration, data
mining, data visualization, and reporting, with the goal of providing decisionmakers with accurate, relevant, and timely
information that can drive strategic, operational, and tactical decisions. By leveraging BI organizations can gain a deeper
understanding of their operations, customers, market trends, and competitors, leading to improved performance, efficiency,
and competitive advantage. Business Intelligence BI is a comprehensive approach to collecting, analyzing, and utilizing
data to gain actionable insights and make informed business decisions. It involves the integration of various strategies,
technologies, and tools to transform raw data into valuable information that drives organizational performance and
competitiveness.
The process of BI starts with data collection, where relevant data is gathered from multiple sources, both internal such as
databases, enterprise systems, and transactional systems and external such as market research reports, social media,
and customer feedback This data is then processed through data integration, where it is consolidated, cleansed, and
transformed into a consistent and usable format. Data mining and statistical analysis are commonly used to identify
patterns, relationships, and trends within the data. These analyses help uncover insights and generate actionable
information that can be used for decisionmaking.
QUESTION Marks
Business intelligence BI plays a crucial role in enhancing decisionmaking across various levels of an organisation.
Critically evaluate the positive impact BI has in enhancing decisionmaking in an organisation of your choice.
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