Companies use a wide range of technologies and products to generate what’s known as business intelligence (BI).
The most common tools – simple query and reporting, online analytical processing, statistical analysis, forecasting and data mining – can be used in a variety of ways.
Applications can provide ad hoc access to a single piece of data, such as monthly sales figures. Or they can be mission-critical, Web-enabled engines used to drive business processes. The goal is to turn what are often mountains of data into useful information. The common platform to achieve this is the database.
|Examples of Business Intelligence
A hotel franchise uses BI analytical applications to compile statistics on average occupancy and average room rate to determine revenue generated per room. It also gathers statistics on market share and data from customer surveys from each hotel to determine its competitive position in various markets. Such trends can be