What is Business Intelligence?

Business Intelligence is the term of how businesses collect data, and use it to measure, analyze, understand and predict in order to improve their own businesses. A company can collect information of customer’s habits and hobbies when they shop in local store. Then special software is used to analyze the information to help the company to understand their customers in order to have attractive advertising campaigns in every different region. Business Intelligence is very important tool for businesses to grow and achieve their goal.

In the modern business world, business intelligence does not only limit in some specific software, but also open to many different ways which base on internet, such as social media and web analytics.

Today, social media become a “trend” of how young people get connection. Each people who is under 30 year old, has at least one account in a social media page. Some of popular social media websites are facebook, youtube, twitter, e-harmony,…. Social media is places for everyone to make friends, keep in touch with their old friends, share ideas, pictures or play games. It is a virtual world where everyone communicates through internet. And it now becomes a huge inexpensive resource of ideas and inputs for businesses. By understanding social media, companies can collect variety data and information from consumers through apps, games and promotions….

Web Analytics are tools to track flow, traffic of visitors who visit website. Through web analytic, businesses can know most information about web visitors, such as: age, country, region, device use, how many time of visiting, and other useful information. From this data, businesses can set strategy for their campaign, or adjust services in order to satisfy customers.

In general, business intelligence is the decision support for every modern businesses today.

Source: Ryan Mulcahy, Business Intelligence Definition and Solutions “http://www.cio.com/article/40296/Business_Intelligence_Definition_and_Solutions”