Business Intelligence: Concepts, Components, Techniques and Benefits

Abstract

For companies maintaining direct contact with large numbers of customers, however, a growing number channel-oriented applications (e.g. e-commerce support, call center support) create a new data management challenge: that is effective way of integrating enterprise applications in real time. To learn from the past and forecast the future, many companies are adopting Business Intelligence (BI) tools and systems. Companies have understood the importance of enforcing achievements of the goals defined by their business strategies through business intelligence concepts. It describes the insights on the role and requirement of real time BI by examining the business needs. The paper explores the concepts of BI, its components, emergence of BI, benefits of BI, factors influencing BI, technology requirements, designing and implementing business intelligence, and various BI techniques.