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Archive for the ‘Business Intelligence’ Category

Business intelligence 101

An essential idea of business is that data is enhanced into information and then into knowledge. Business use BI to gain an advantage in the marketplace by understanding their customer’s needs, customer’s decision-making processes, and economic, cultural, and technological trends. Business intelligence involves analyzing not only the customer but the entire industry as a whole. Finally, business intelligence is driven by a goal set by the company. The goal can be short term or long term.

History of Business intelligence

Business intelligence was first referred to in Sun Tzu’s “Art of War.” Tzu claimed that in order to win a war you had to have complete knowledge and understand of your strengths and weaknesses as well as those of your enemy. This is the core idea behind modern business intelligence. A company must know itself better than anyone else, and know its customers and competitors better than anyone else. It is ironic how much business and warfare are alike. In BI, one must sift through heaps of data (both external and internal) for management to then device strategies for marketing and where to take the business.

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