Business Analysis Tools - Dissertation Example

It involves integration, summarization, and abstraction as well as ratios, trends, and allocations.” It entails extrapolating useful data from huge knowledge repositories that deal with trends, allocations, ratios, integration, summarization, and abstractions. It involves comparing and resolving generalizations based on information to model-based suppositions. Business Intelligence deals with innovative thinking that data enhances and the measurement of the innovative notions that the organization initiates.

It pertains to using data well, knowing how to measure it, and extracting information from its models. Business intelligence operates as a continuous pool of data analysis and decision-making enhancement. Its framework comprises conflict resolution, access models, data collection, dimensional structuring, model verification, predictive models, data synthesis, access processes, knowledge sharing, intuitive representations, prescriptions, resource strategies, decision implementation, and scenario analysis (Rao, 2000, p. 517). Rajteric (2010) cites the definition of Howard Dresner, who described it as “concepts and methodologies for improvement of business decisions using facts and information from supporting systems.” (p. 47).

The author cites those definitions of Azvine and Wells, which stress the ability of organizations to attain business objectives and effectiveness: “Business Intelligence is all about capturing, accessing, understanding, analyzing and converting one of the fundamental and most precious assets of the company, represented by the raw data, into active information in order to improve business” (p. 47); Wells’ meaning of “Business Intelligence is the capability of the organization or company to explain,.

In reviewing the literature, many definitions of Business Intelligence exist. Rao offers an excellent definition of Business Intelligence: “Business Intelligence (BI) is about synthesizing useful knowledge from large datasets. It involves integration, summarization, and abstraction as well as ratios, trends, and allocations.” It entails extrapolating useful data from huge knowledge repositories that deal with trends, allocations, ratios, integration, summarization. It involves comparing and resolving generalizations based on information to model-based suppositions.

Business Intelligence deals with innovative thinking that data enhances and the measurement of the innovative notions that the organization initiates. It pertains to using data well, knowing how to measure it, and extracting information from its models. Business intelligence operates as a continuous pool of data analysis and decision-making enhancement. Its framework comprises conflict resolution, access models, data collection, dimensional structuring, model verification, predictive models, data synthesis, access processes, knowledge sharing, intuitive representations, prescriptions, resource strategies, decision implementation, and scenario analysis.

In other literature review, Sell et al (2011) define Business Intelligence (BI) as the incorporation of a pattern of tools to sustain the conversion of data into information in enhancing decision making. In addition, organizations utilize BI to study data for their needs.