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Business Intelligence

​Business intelligence (BI) comprises the strategies and technologies used by enterprises for the data analysis of business information.[1] 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.[2]

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.[3]

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.[4]

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"[5] or as "BIDW". A data warehouse contains a copy of analytical data that facilitate decision support.

Grantham (/ˈɡrænθəm/ GRAN-thəm) is a market and industrial town in the South Kesteven district of Lincolnshire, England. It straddles the London–Edinburgh East Coast Main Line and the River Witham and is bounded to the west by the A1 north–south trunk road. It lies about 23 miles (37 kilometres) south of the county town, Lincoln, and 22 miles (35 kilometres) east of Nottingham. The population in 2016 was put at 44,580.[1] Grantham is known as the birthplace of former UK Prime Minister Margaret Thatcher, for educating Isaac Newton at the King's School, as the workplace of the UK's first female police officer, Edith Smith in 1914, and for making the UK's first running diesel engine in 1892 and tractor in 1896. Thomas Paine worked there as an excise officer in the 1790s.