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.
Colwyn Bay (Welsh: Bae Colwyn) is a town, community and seaside resort in Conwy County Borough on the north coast of Wales overlooking the Irish Sea. It lies within the historic county of Denbighshire. Eight neighbouring communities are incorporated within its postal district. Established as its own separate parish in 1844 with just a small grouping of homes and farms where the community of Old Colwyn stands today, Colwyn Bay has expanded to become the second-largest community and business centre in the north of Wales as well as the 14th largest in the whole of Wales with the urban statistical area, including Old Colwyn, Rhos-on-Sea, and Mochdre and Penrhyn Bay, having a population of 34,284 at the 2011 census.