Business Intelligence: Components, Life Cycle, and Benefits

Running head: BUSINESS INTELLIGENCE
Business Intelligence
Name of the Student
Name of the University
Author’s Note

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BUSINESS INTELLIGENCE
Table of Contents
Introduction......................................................................................................................................3
Business Intelligence.......................................................................................................................3
Components of business intelligence...........................................................................................4
Life Cycle of BI system...............................................................................................................6
Benefits of Business Intelligence.....................................................................................................9
Business Intelligence in Healthcare industry.................................................................................11
Conclusion and Research Contribution.........................................................................................14
References......................................................................................................................................15

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BUSINESS INTELLIGENCE
Introduction
Business intelligence (BI) has been refereeing to the computer based techniques that have
been helping in spotting, digging-out and analyzing different types of data related to business
including sales revenue information. The BI technologies have been providing past, present and
future implication associated with the business operations.
In modern businesses, there has been increase in standard automation and technologies
that have been helping in maintaining a keen approach to development of the company. Data
warehouse technologies has been helping in the setting up inventory control in the business
organization. This report has been focused in the benefits of business intelligence. The
application in healthcare industry has been focused in the report. The contribution of business
intelligence in the business growth has been discussed in the report.
Business Intelligence
As commented by Turban et al. (2014). Business intelligence is a process of including a
large number of business objectives and data, analyzing them and present into essence of data
into business basis actions. This helps in enabling management services in the business
organization. The use of the business intelligence in the companies have been providing proper
decisions with respect to business objectives. The process of collection, diffusion and analyzing
data and information has been helping in maintaining a keen approach to the growth of the
company. Business intelligence has been helping in making decisions in the business operation.
The concept of business intelligence has been introduced by Gartner Group since 1996 (Nerkar,
2016). It has been referred to a set of applications, technologies and methodologies that help in
improving enterprise operation effectiveness support management for achieving competitive

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BUSINESS INTELLIGENCE
advantages.. Business Intelligence helps in supporting better business oriented decision.
Therefore, a BI system has been termed as Decision support system (DSS) (Sallam et al., 2014).
The term business intelligence has been helping in supporting competitive intelligence and
decision making processes in the business organization. The use of technology in the business
intelligence has been helping in supporting various operations in the business organization.
As mentioned by Mitri & Palocsay (2015), business intelligence include effective data
warehouse that helps in monitoring time critical processes for allowing tactical operations in
businesses.
Components of business intelligence
Online analytical processing (OLAP): It focuses on the way by which business users can
analyses their data and information with the help of specific tools by allowing navigation of
dimensions with time. Online Analytical Processing helps in providing multidimensional view of
business data for analyzing, modelling and planning of business plan (Fan, Lau & Zhao, 2015).
OLAP techniques and tools has been used with data warehouse in sophisticated enterprise
applications. These systems have been creating interrogations for discovering trends and
analyzing critical factors. Other BI tools have been helping in maintaining a proper approach to
the maintain business operations.
Advanced Analytics: It refers to predictive analytics, data mining and forecasting for
taking advantages of statistical analysis techniques for predicting certain procedures based on
facts.