What is Business Intelligence
Business Intelligence(BI) refers to the entire process that a company uses to make informed business decisions. BI involves several key steps, including collecting data from various internal and external sources, transforming it into meaningful insights, and then visualizing it to help guide decision-making.
Data collection can include not only internal data but also external data, such as industry statistics or competitor insights, which can provide more comprehensive analysis. For example, Statista is a widely used resource.
BI is often closely associated with visualization tools like Tableau and Power BI, leading many to equate BI with data visualization alone. However, BI encompasses much more than that. Modern BI solutions now include capabilities for data processing (ETL), advanced analytics, and even AI-powered data analysis.
As businesses demand more from their BI tools, these platforms have evolved to offer features like Python integration, automated data analytics, and more, making them powerful tools for driving smarter business decisions.
