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Importance of Business Intelligence

August 09, 2017

Business Intelligence or BI is an umbrella term that includes the applications, tools, infrastructure and best practices. That enable access to an analysis of information to improve and optimise performance and decisions.

It grew out of the conviction that managers with inaccurate or incomplete information will tend, on average to make worse decisions than if they had better information. Information frameworks have been designed so that business intelligence can be at the hand of the decision makers, without relying on Information Technology staff.

 

"Managers with inaccurate information will tend, on average to make worse decisions than if they had better business intelligence."

 

Business Intelligence is a technology-driven process for analysing data and presenting actionable information. To help corporate executives, business managers and other end users make more informed business decisions. BI encompasses a wide variety of tools, applications and methodologies that enable organisations to collect data from internal systems and external sources. Prepare it for analysis, develop and run queries against the data, and create reports, dashboards and data visualisations to make the analytical results available to corporate decision makers as well as operational workers.

To be useful, business intelligence must seek to increase the accuracy, timeliness and amount of data. This means finding more ways to capture information that isn’t already being recorded. Checking the information for errors, and structuring the information in a way that makes broad analysis possible.

Business Intelligence is critically important for making informed learning decisions. It takes regular practice using BI software apps (Power BI is our favourite), creativity on the displaying of data and a deep and precise knowledge of what you wish your business outcomes to be.

You won’t understand the critical importance and relevance that BI will have for your business. Until you start applying your own business data to BI software applications. Especially Power BI and watching your data come alive. The moment your data starts working for you. Is when you get excited about the possibilities that are available using business intelligence. Especially business intelligence applications.

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Thanks Jason! I'll be back for intermediate and advanced very soon! -Excel Beginner Brisbane
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Michael was great. Very thorough, very open and responsive to questions and very clear in his approach to explaining functions etc. The ability to participate remotely was fantastic, and the blended class (we had 2 in Sydney and myself online) worked really seamlessly. Definately look at Nexacu for future training needs. -SharePoint Site Owner Sydney
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John was direct and concise with his delivery. As a Supervisor I am now more prepared to request reports of the types I require . Long day but excellent information and paced well. Thank you -Power BI Beginner Parramatta
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Very interesting course. John was great but the course was a lot to take in one day, maybe it should be split into 2 sessions over 2 days. -Power BI Beginner Melbourne
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Very informative and easy to follow. Patient and communicated well Now have a better understanding of how to set up Power BI reports. -Power BI Beginner Melbourne
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Steven has a great knowledge and great present skill for the day. the course was well designed. satisfied with everything. Thank you -Power BI Beginner Brisbane
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Good intro into the world of Power BI. Hope to be able to put it into practice straight away -Power BI Beginner Brisbane
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Useful course and excellent trainer -Power BI Beginner Brisbane
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Course was well structured and paced. Steven was a knowledgeable instructor. -Power BI Beginner Brisbane
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Jason was an awesome instructor that had my full attention for the duration of the course. I really enjoyed the hands on experience & being able to follow along with my own laptop. Thank you for an amazing course! -Excel Beginner Brisbane
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Well delivered class! Definitely learnt a lot and had a laugh which was good. Thank you Jason, you're an excellent teacher. -Excel Beginner Brisbane
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