In this information age, there are a lot of terms that have come out of late, many are still struggling to understand. Some of these terms are thrown around a lot and are sometimes abused. Of course we can not blame others for the abuse some terms, as some of them can be technical jargons that only a small percentage of people on the planet know about.
One of the IT-related terms that surface (or maybe even back surface), the concept of Business Intelligence. But what exactly is it?
Defining Business Intelligence
To some people, mentioning the word “intelligence” can easily come to mind secret information about a person or organization. Business Intelligence actually refers to a set of theories, methods and technologies that convert raw data into information that can be meaningful and useful to the company in terms of its policy. It represents the tools and systems that make it possible for companies to collect, store and analyze data to help them in decision making.
What it covers
Business Intelligence and data warehousing encompass quite a wide range, from profiling customers to make excellent use of the collected data to provide better customer service, among many others.
Many companies collect data in various ways throughout their operations. Certainly, the data collected is not just there to fill in the database. It is well analyzed so that it can yield useful information that can help companies to decide what step or steps to take so that they can better serve their customers and / or market their products and services more efficiently.
To collect and maintain information
The information collection companies need to gather speed and efficient way. This is why companies would have a variety of software applications, not only to collect and manage information and make sense of it. After all, tons of information will not amount to anything if they are not utilized, and utilized properly.
Point Person / s
To collect, monitor and make sense of the data, a person or team is assigned to these important projects. In the IT field, these people have come to be known as Business Intelligence Experts. They need technical analysis, communication and problem-solving skills for them to be effective and efficient in what they do. It has been predicted that the demand for these IT professionals will increase in the coming years.
If you think you have the appropriate Business Intelligence Analyst, go ahead and take this job and to be one of the major players in the scheme of things in the organization you will be walking.