What is Business Intelligence & its Importance
                     WHAT IS BUSINESS INTELLIGENCE & ITS 
IMPORTANCE
What Is Business Intelligence?
• The term Business Intelligence (BI) refers to the technologies, applications, strategies, and 
practices used to collect, analyze, integrate, and present pertinent business information. 
• The entire purpose of Business Intelligence is to support and facilitate better business 
decisions.
Source: analytiks.co
IMPORTANCE OF BUSINESS INTELLIGENCE
Gain New Customer Insights
• One of the primary reasons companies are investing their time, money, and efforts into 
Business Intelligence is because it gives them a greater ability to observe and analyze 
current customer buying trends. 
• Once you utilize BI to understand what your consumers are buying and the buying 
motive, you can use this information to create products and product improvements to 
meet their expectations and needs and, as a result, improve your organization’s bottom-
line.
Source: analytiks.co
Improved Visibility
• Business Intelligent organizations have better control over their processes and standard 
operating procedures, as the visibility of these functions is improved by a BI system. 
• The days of skimming through hundreds of pages of annual reports to assess 
performance are long gone. 
• Business Intelligence illuminates all areas of your organization helps you to readily 
identify areas for improvement and allow you to be prepared instead of reactive.
Source: analytiks.co
Actionable Information
• An effective Business Intelligence system serves as a means to identify key organizational 
patterns and trends. 
• A BI system also allows you to understand the implications of various organizational 
processes and changes, allowing you to make informed decisions and act accordingly.
Source: analytiks.co
Efficiency Improvements
• BI Systems help improve organizational efficiency which consequently increases 
productivity and can potentially increase revenue. 
• Business Intelligence systems allow businesses to share vital information across 
departments with ease, saving time on reporting, data extraction, and data 
interpretation. 
Source: analytiks.co
Human Resources
• HR can tremendously benefit from the implementation of Business Intelligence utilizing 
employee productivity analysis, compensation and payroll tracking, and insights into 
employee satisfaction.
Source: analytiks.co
Finance
• Business Intelligence can help finance departments by providing invaluable and in-depth 
insights into financial data. 
• The application of BI can also help to track quarterly and annual budgets, identify 
potential problem areas before they cause any negative impacts, and improve the overall 
organizational business health and financial stability.
Source: analytiks.co
Sales
• Business Intelligence can assist your company’s sales force by providing visualizations of 
the sales cycle, in-depth conversion rates analytics, as well as total revenue analysis. 
• BI can help your sales team to identify what’s working as well as points of failure which 
can result in dramatically improved sales performance.
Source: analytiks.co
Marketing
• BI provides the marketing department with a convenient way to view all current and past 
campaigns, the performance and trends of those campaigns, a breakdown of the cost per 
lead and the return on investment, site traffic analytics, as well as a multitude of other 
actionable pieces of information.
Source: analytiks.co