Business Intelligence (BI) is a business management, technical process for the correct evaluation of company data. Important usable information is analyzed and processed accordingly to provide executives, managers and other end users with significant support in making targeted business decisions.
The term "Business Intelligence" first appeared in the 1958 technical paper "A Business Intelligence System" by Hans Peter Luhn. It is ultimately thanks to the well-known Gartner Group that the general term Business Intelligence (BI) then established itself worldwide in the early 1990s.
The goal of Business Intelligence is to recognize the constantly growing connections between all areas of a company by means of the integration of data in order to be able to draw business conclusions.
Due to the continuous development of Business Intelligence Software in the last years, many advantages for usage have arisen. Accelerating and improving decision-making is key, as well as optimizing internal and external business processes, increasing efficiency, and gaining competitive advantage over competitors in their own industry. Business Intelligence systems also help to identify market trends or to identify business problems early to solve them.
The good old industry experience and the classic decision from the gut is increasingly replaced by well-founded, data-driven decisions. Business Intelligence Software helps to analyze big data (big data) to give people a huge overview. Furthermore, predictive decisions can be made with new statistical methods, pattern recognition, etc.
The good old industry experience and the classic gut decision is increasingly being replaced by well-founded, data-driven decisions.
Business Intelligence software helps to evaluate large amounts of data (Big Data, Data Warehouse) in order to give people a holistic overview. In addition, new statistical methods, pattern recognition, etc. can be used to make foresighted decisions (AI - Artificial Intelligence).
For more than three decades, CoPlanner has been developing and implementing business intelligence software for classic controlling as well as for corporate management with the aim of enabling management and specialist departments to keep track of their corporate development and the corresponding figures on a daily basis.
An overview of the business intelligence approach, the structured and strategic preparation of business information:
Business data is extracted and imported from the existing base systems
In the case of a data warehouse, data from various sources is summarized in a database and stored for subsequent processing
Analysis and evaluation of company data
Preparation of the results in the form of annual reports based on the information needs of the users
Return of the results in the entrepreneurial operational processes
The different perspectives on the company in the area of Business Intelligence enable differentiated views of the processes and provide an overview of the customers and the current market. The aim is to constantly observe and analyse developments in one's own company, competitors and the market, so that conclusions can be drawn about the possibilities and alternatives for action. Through the business insight into the company and the market, operational and strategic measures can be implemented to reduce costs and improve processes or products.