Business intelligence (BI) comprises the strategies and technologies used by enterprises for the data analysis of business information. BI technologies provide historical, current, and predictive views of business operations.
Common functions of business intelligence technologies include reporting, online analytical processing, analytics, dashboard development, data mining, process mining, complex event processing, business performance management, benchmarking, text mining, predictive analytics, and prescriptive analytics.
BI technologies can handle large amounts of structured and sometimes unstructured data to help identify, develop, and otherwise create new strategic business opportunities. They aim to allow for the easy interpretation of these big data. Identifying new opportunities and implementing an effective strategy based on insights can provide businesses with a competitive market advantage and long-term stability.
Business intelligence can be used by enterprises to support a wide range of business decisions ranging from operational to strategic. Basic operating decisions include product positioning or pricing. Strategic business decisions involve priorities, goals, and directions at the broadest level. In all cases, BI is most effective when it combines data derived from the market in which a company operates (external data) with data from company sources internal to the business such as financial and operations data (internal data). When combined, external and internal data can provide a complete picture which, in effect, creates an "intelligence" that cannot be derived from any singular set of data.
Among myriad uses, business intelligence tools empower organizations to gain insight into new markets, to assess demand and suitability of products and services for different market segments, and to gauge the impact of marketing efforts.
BI applications use data gathered from a data warehouse (DW) or from a data mart, and the concepts of BI and DW combine as "BI/DW" or as "BIDW". A data warehouse contains a copy of analytical data that facilitate decision support.
Canvey Island is a town, civil parish and reclaimed island in the Thames estuary, near Southend-on-Sea, in the Castle Point district, in the county of Essex, England. It has an area of 7.12 square miles (18.44 km2) and a population of 38,170. It is separated from the mainland of south Essex by a network of creeks. Lying only just above sea level, it is prone to flooding at exceptional tides and has been inhabited since the Roman conquest of Britain.
The island was mainly agricultural land until the 20th century, when it became the fastest-growing seaside resort in Britain between 1911 and 1951. The North Sea flood of 1953 devastated the island, killing 58 islanders and leading to the temporary evacuation of the 13,000 residents. Canvey is consequently protected by modern sea defences comprising 2 miles (3.2 km) of concrete sea walls.
Canvey Island is also notable for its relationship to the petrochemical industry. The island was the site of the first delivery in the world of liquefied natural gas by container ship and later became the subject of an influential assessment on the risks to a population living within the vicinity of petrochemical shipping and storage facilities.