Business Intelligence is often described as a set of techniques & tools to acquire and transform raw data into meaningful information that can be used by the business to make informed decisions at an immediate and strategic level.
Business can acquire intelligence through analysis of data available to them via their MIS. The data alone has little value, but when it is analysed the management team can make informed decisions about the direction the business should take. If necessary, the management team can request further analysis on any specific aspect of the report e.g. how this business is performing compared to a competitor, the expectation the business had for the current period or historical information. Click here for more information.