Business Intelligence (BI)

I am sure a lot of people can define business intelligence but what we need to know is how it applies to us our business, our life and things we do. Over the last few decades, we have collected data and we probably have overwhelming data about a person, from financial records to personal email, phone records etc. While this information is useful for your own records it provides a vast scope for someone in the field of offering services or goods a great opportunity to find out what they can launch or produce.

While this is a short example and a survey could do that but have you ever thought of magic. While magical tricks (are tricks) and some are really sophisticated, business intelligence is the magic for this data. Data is any piece entered into a system but when we interpret it, it becomes information. When this goes beyond a regular interpretation, business intelligence comes into play.

Have you ever thought about this if the person entering next in the car dealership will buy the car or not? Well, if you are into sales there, you know the other brain tricks (that I will talk about in another topic) but you wish you knew so you could spend your time appropriately. Well based on the vast data that we have, a simple survey may be a tool that could give you the answer with pretty high confidence. For example, how many car this person already own, is he / she a house owner? how many children? etc.

Business intelligence is not about what we can see but what we cannot see. With that said, here is my introduction to BI.

Would love to get some feedback and comments…