Business Intelligence

Business intelligence (BI) is all about improving the decision-making process.

 

BI is achieved using computer-based techniques used to extract ACTIONABLE information from unstructured data, identifying and analyzing business data, such as sales revenue by products or departments, or by associated costs and incomes. This may require specialist to do data mining and data cleaning. IE. Data miners processing through thousands of sales receipts to discover if there is a trend of customers from demographic X who tend to buy product A also have a 65% chance to buy product B. Therefore the business will alter marketing to capitalize to increase marketing of product B to demographic X trying to raise profitability.

Business intelligence requires data mining.
BI technologies lay down the historical framework, and offer up current and predictive views of business operations. Most importantly good business intelligence technologies offer easy reporting, online analytical processing, analytics, business performance management, benchmarking, and text mining and predictive analytics.

 

Business intelligence relies heavily on in house datasets. It has been estimated that 80% of all business data has a geographic component to it. Such as zip codes of customers, location of vendors, areas of the country where marketing material is run, etc.  This means that GIS will become a critical part of any proper BI program.

 

Are you using GIS to help with your business intelligence?