business intelligence (BI)
Definition
Computer-based techniques used in spotting, digging-out, and analyzing 'hard' business data, such as sales revenue by products or departments or associated costs and incomes. Objectives of a BI exercise include (1) understanding of a firm's internal and external strengths and weaknesses, (2) understanding of the relationship between different data for better decision making, (3) detection of opportunities for innovation, and (4) cost reduction and optimal deployment of resources. See also competitive intelligence.
business intelligence (BI) is in the Entrepreneurship, Management, & Leadership subject.
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