Business intelligence (BI) — what it is, and why it’s important
In this article about business intelligence, you’ll learn:
What is business intelligence?
Business intelligence (BI) is a subdiscipline of data analytics that involves gathering, analyzing, and presenting data visually. The purpose of BI is to help inform and improve business decision-making by making data easier to interpret and act on.
While BI involves collecting and visualizing data, the term also refers to the software tools that carry out these practices. These tools report on data by pulling it from a central dashboard to create reports and visualizations, like charts and graphs.
While both involve using data, BI and business analytics are not the same. BI uses data to gather insights about an organization’s present-day strategy, while business analytics uses data to build a strategy for the future.
The importance of business intelligence tools
Companies use business intelligence tools to improve anything from strategy to execution. By gathering data into a single environment, they’re able to extract insights faster and make decisions more efficiently. Specifically, BI tools help companies:
- Collect and store data. Because data is often stored in various places, gathering it allows teams to mine data for patterns that will inform visualizations.
- Maximize workflow efficiency. BI tools help companies extract better insights, which lead to better decision-making around strategies and processes.
- Reach business goals. By clearly measuring performance and benchmarking process, organizations can consistently track toward business goals and act on reporting insights.
Getting started with business intelligence
Business intelligence tools not only help companies gather data, but they also help analyze and visualize that data efficiently to improve decision-making and reach business goals. When you’re ready to get started with your own business intelligence, choose a reliable BI tool that’s right for your business.
Adobe Customer Journey Analytics brings data all under one roof to gain a realistic view of customer behaviors and business performance. With in-depth analysis, versatile reporting, and predictive intelligence, you gain the insightful foundation you need for better decision-making.
To learn more, watch the overview video or request a product tour.