Business
Intelligence

Business intelligence is the collection, use, and analysis of data for decision-making. This data can be related to sales or internal management data.

In other words, business intelligence is about :

  • Collecting data;

  • Storing this data for further analysis

  • Analysing the data: paying attention to trends over time or comparing different situations.

This analysis must serve business objectives, and therefore track results that measure progress towards a specific goal. In short, this data must be used for concrete decisions and actions, otherwise there is no point in collecting it.

Companies adopt so-called “analytical” strategies to better understand their customers and suppliers, to reduce operating costs, to differentiate themselves from the competition or even to develop new markets.

Not only is it possible to do descriptive analyses to understand what happened and why it happened, but also predictive and prescriptive analyses to understand what will happen and what should happen to achieve a certain goal.

 

In concrete terms, the implementation of a business intelligence solution therefore aims to :

  • Strategic foresight

  • Bringing together data that is currently fragmented in several systems

  • Provide standard, centralized information

  • Have a cross-sectional view of the data on the various businesses

  • Make information accessible to the appropriate stakeholders

  • Make quick and efficient decision