business-intelligence

Vocabulary Word

Definition

'Business-Intelligence' (BI) is a tech-based tool used by businesses to analyze data and provide actionable information. It helps companies improve their strategies by making data-driven decisions.

Examples in Different Contexts

In data analytics, 'business intelligence' (BI) refers to the technologies and practices for collecting, integrating, analyzing, and presenting business information to support decision making. A data analyst might say, 'Our BI tools help identify sales trends and customer preferences, enabling more strategic planning.'

Practice Scenarios

Finance

Scenario:

The board needs a detailed report on our financial performance. Delving into financial trends could provide valuable insights.

Response:

I bet business intelligence can provide the insights that you need for presenting our financial trends to the board.

Tech

Scenario:

Our application's user engagement is much lower than expected. Identifying usage patterns can be pivotal in altering the design.

Response:

Perhaps we could use our business intelligence software to analyze the usage patterns and improve the app's user interface.