In this information age, there are a lot of terms that have come out of late that many people are still struggling to understand. Some of these terms are thrown around a lot and are sometimes misused. Of course, we can’t blame others for misusing some terms, as some of them can be technical jargons that only a small percentage of people on the planet know about.
One of the IT-related terms that has surfaced (or perhaps even re-surfaced) is the term Business Intelligence. But what exactly is it?
Defining Business Intelligence
To some people, mentioning the word ‘intelligence’ can easily bring to mind secret information about a person or an organization. Business Intelligence actually refers to a set of theories, methodologies and technologies that transform raw data into information that can be meaningful and useful to a business in terms of its strategic planning. It represents tools and systems that make it possible for a company to gather, store, and analyse data to help them in their decision-making.
What It Covers
Business Intelligence and data warehousing encompass quite a broad spectrum, from profiling customers to making excellent use of gathered data to provide better customer service, among many others.
Many companies collect data through various ways throughout their operations. Certainly, the data collected is not just there to fill out a database. It is carefully analyzed so it can yield useful information that can help a business in deciding what step or steps to take so they can better serve their clients and/or market their products or services more effectively.
Gathering and Keeping Track of Information
The information a company gathers has to be collected in the quickest and most efficient fashion. This is why a business would need a wide range of software programs not only in collecting and keeping track of information but making sense of it. After all, tons of information won’t amount to anything if they’re not utilized, and utilized properly.
To collect, keep track and make sense of data, a person or a team is assigned for these important tasks. In the IT field, these people have come to be known as Business Intelligence Analysts. They require technical, analytical, communication, and problem-solving skills for them to be effective and efficient in what they do. It is has been forecasted that the demand for these IT professionals will increase in the coming years.
If you think you have the qualifications of a Business Intelligence Analyst, go ahead and go for this job and be one of the key players in the scheme of things in the organization you’ll be joining.