Business intelligence is defined as a set of methodologies, processes and technologies which transform raw data into consolidated information that can easily be analyzed to provide a historical view, a current view and a predictive view of overall business operations.
CFI Business Intelligence consulting services assist in determining your business objectives, including understanding your firm’s strengths and weaknesses, fleshing out the relationship between different data sets to facilitate better decision making, deciphering unutilized opportunities for business innovation, cost reduction, and optimal deployment of available resources.
Solid business intelligence tools often include a software implementation, designed to derive more value from available internal and external data. Software which enables greater Business Intelligence can provide advanced query, reporting and analysis tools but that’s not the whole picture. The software, coupled with Business Intelligence consulting services enable a corporation’s decision-makers to discover previously hidden information, spot trends and uncover correlations between data items, all of which can be used to formulate and execute business strategies and tactics moving forward.
Benefits of Business Intelligence Tools:
■ Instrumental in organizational alignment with key objectives
■ Streamlines operations
■ Helps organizations understand true manufacturing costs
■ Enables fact-based decision making
■ Multiple sources of data utilized for better decision making
■ Efficient collection / distribution of data and statistics
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*Data compiled from www.businessdictionary.com as well as other sources.