Business Intelligence (BI) is a business-technical process for the correct evaluation of company data. Key valuable information is analyzed and prepared to provide significant support to senior executives, managers, and other end users to make targeted business decisions.
The term "Business Intelligence" appears for the first time in the 1958 published article "A Business Intelligence System" by Hans Peter Luhn. We finally owe it to the well-known Gartner Group that the general term Business Intelligence (BI) then established itself worldwide in the early 1990s.
The aim of Business Intelligence is to use the intertwining of data to identify the constantly growing relationships between all business units in order to draw business conclusions.
For more than two decades, CoPlanner has been developing Business Intelligence software for classic controlling and corporate management, implementing it with the goal of enabling management and departments to keep an eye on their business development and related figures on a daily basis.
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.
How far should existing and well-functioning applications be considered in the catalog of requirements?
What should be maintained from the point of view of the user?
Are transmitted through the pre-system platforms, e.g. an ERP solution to expect IT constraints for the future BI project?
For example: Operating system, databases, technology, Excel as frontend
What are the current problems regarding the preparation of actual data from different source systems?
Should financial data from financial accounting, performance data from cost accounting, and sales data from the enterprise resource planning be consistently merged?
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