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.
Spilsby is a market town, civil parish and electoral ward in the East Lindsey district of Lincolnshire, England. The town is adjacent to the main A16, 33 miles (53 km) east of the county town of Lincoln, 17 miles (27 km) north-east of Boston and 13 miles (21 km) north-west of Skegness. It lies at the southern edge of the Lincolnshire Wolds and north of the Fenlands, and is surrounded by scenic walking, nature reserves and other places to visit.
The town has been a rural market town for more than 700 years. It has changed little in size since the beginning of the 19th century. The town centre includes a range of small supermarkets, banks, traditional newsagents, baker, butchers, jewellers and clothing stores, together with public houses, cafes and fast-food takeaways.
At the centre of town is an open square or traditional market place, from which the four main town streets radiate. Markets take place on a Monday. As Spilsby is located within a predominantly agricultural area, much of the market produce consists of locally grown vegetables and meat.
The population of the town was 2,336 in the 2001 census, increasing to 3,045 at the 2011 Census.