RE: What is Business Intelligence ?
The purpose of Business Intelligence is to supporting the transformation of raw data into useful information which can support decision making. Business Intelligence provides reporting functionality, tools for identifying data clusters, support for data mining techniques, business performance management and predictive analysis.
- The aim of Business Intelligence is to support decision making. In fact, BI tools are often called Decision Support Systems (DSS).
- Fact-based support systems as they provide business users with tools to analyze their data and extract information.
Techniques Used in BI
A primary goal of data visualization is to communicate information clearly and efficiently via statistical graphics, plots and information graphics. Numerical data may be encoded using dots, lines, or bars, to visually communicate a quantitative message. Effective visualization helps users analyze and reason about data and evidence. It makes complex data more accessible, understandable and usable. Hence the visualization of data in charts is a convenient way to immediately understand how to interpret the data.
Examples of diagrams used for data visualization
- Bar chart
- Scatter plot
- Scatter plot (3D)
On-line Analytical Processing