Group C

Task – Group work

Module: Business Intelligence
Batch 127
Prepare a detailed report on Business Intelligence systems and its importance using real world
examples and practical applications. All the team members should contribute to knowledge
gathering process and report writing process. Learners are encouraged to address the following
points.
• What is a business intelligence system?
• What are the components of a BI system?
• What is the use of a BI system?
• Solutions given by BI systems (present at least 4 practical examples)
• Challenges of BI
• Concluding remarks

What is a business intelligence system?

Business intelligence systems merge data collection, data storage and data analysis with data
evaluation and transformation to assess and transform complex data into meaningful, actionable
information that can be used to support more effective strategic, tactical, and operational insights
and decision-making. Business information can be collected, analyzed, presented, and
disseminated using a range of technologies, applications, processes, strategies, products, and
essential components in business intelligence environments.
Businesses of all sizes now have access to robust data analysis capabilities thanks to business
intelligence (BI) solutions. Businesses must be able to receive insights and identify trends in
order to scale and adapt as time goes on, and this is exactly what a business intelligence system
provides. But the nicest thing about these software solutions is how many different applications
they may be used for.
Large amounts of structured and occasionally unstructured data can be handled by BI systems to
aid in the discovery, development, and other creation of new strategic business possibilities.
They want to make it possible for these huge data to be easily interpreted. Businesses can gain a
competitive edge in the market, long-term stability, and the ability to make strategic decisions by
recognizing new opportunities and putting into practice an efficient plan based on insights.
The value of BI systems are as follows;
1. They provide Analytical data for all processing platforms
2. The data are easily and readily available and all levels of critical data such as raw data, metric
data, and analytical results/tools and data are available.

Concluding Remarks
A Business Intelligent System offers a strong arm to withhold so much data and Information to
Businesses, People, and other organizations in general as it simplifies all those needed
information in a way that it is understandable by anyone who has access. BI system combines all
of “Data Gathering”, “Data Storage” and “Knowledge Management” together to mix the data
and information from them to create a ‘Data Warehouse’ in which decisions can be made. A lot
of BI software’s have made it easy so that organizations can run up and swiftly. (Such as,
“Visualization”, “Dashboards”, “Data Mining”, “OLAP”, “ETL”) Business Intelligent systems
mainly boosts productivity levels, Allows easy analytics, gives the business a clear bird-eye view
on anything that might hinder the process, Fixes the accountability and create Visibility meaning
that it makes it easy to discover any areas that require attention by increasing the visibility of
these processes.
BI systems has also created various kinds of trends such as AI (Artificial Intelligence) and Cloud
BI which has mainly taken over the world as many organization’s and people in general have
shown interest in it and the process to make AI a day-to-day lifestyle is already in its way.
In conclusion, even though BI systems might have its disadvantages (Cost, Its complexity to use,
time consuming implementation) it’s hard not to see the advantages outweigh them as it has
offered a great deal of relief and reduced so much workload for everyone that is in search of data
and information.