Core Business Intelligence Capabilities
2 min readMay 18, 2021
Previous reading “What is Business Intelligence?”
Since we are already familiar with the general definition of BI (Business Intellignece), let us start its brief review with the core BI capabilities.
There are 3 major ones:
- data extraction;
- data storage;
- data analysis.
By data analysis we can understand data visualization, data exploration, data discovery or combinations of these approaches, or even all of them together.
While previous slide described core BI capabilities in the context of methodology and governance, there are concrete software solutions exist that support these capabilities by providing the following services:
- Reporting. It means taking raw data and turning it into information used to make intelligent business decisions.
- Dashboards. They are pages where reports, graphs, and charts can be placed in order to create a central location for critical business information.
- Ad-hoc Querying. It means real-time reporting to explore questions while looking through the data.
- OLAP. It stands for Online Analytical Processing. It aims at efficient multidimensional processing of large data volumes to provide fast and interactive answers to large aggregate queries.
- Data Mining and Machine Learning. It serves to dig through huge amounts of data and come up with predictions.
- Scorecards. They are designed to measure progress toward goals by various groups of measures.
Further reading:
https://www.predictiveanalyticstoday.com/key-capabilities-of-business-intelligence-software/
