Business intelligence has the following components;
- Online analytical processing (OLAP)
- Corporate performance management
- Real time Business intelligence
- Data warehousing and Marts
- Advanced analytics.
Companies such as Oracle, Microsoft, IBM and SAP incorporate all these technologies into most business intelligence platforms. Business intelligence is very important for an organization because;
- The information obtained ensures an informed decision is made
- The organization gets a chance to understand their customers’ behaviour, trends and buying patterns.
- Business intelligence boosts an organization’s visibility
Business intelligence is applied in many departments within the business field such as business administration, finance, advanced statistics, and marketing. Students who wish to make a career in business must take a business intelligence class. Understanding the concepts in business intelligence requires the student to be proficient in the use and application of the various analysis tools. A need for online experts to help students with their homework has risen on demand.
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Business Intelligence Assignment Help
Business Intelligence utilizes all the data available within an organization to generate the knowledge required in making crucial decisions. The information obtained helps a company explore new viable opportunities. New opportunities mean more revenue and profits for the company. Business Intelligence is used by most companies to get an edge over their competitors. To conduct a business intelligence the following process is followed;
- Benchmarking the company- This process involves knowing the performance of the business in comparison with the competitors in the same field.
- Analysis of the business processes- The Company uses the figures and data available to determine the areas that need improvement.
- Knowledge management- Various tools and techniques are used to process the figures, facts and data available to generate knowledge.
- Report writing and documentation- The knowledge obtained is recorded to be used as a point of reference when the company needs to make a strategic decision
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