Race towards industry 4.0 increases the hyper competition and puts pressure on organizations to integrate the advanced technologies. Business intelligence system (BIS) is one of the top prioritized technologies that attracted the significant attention of policy-makers and industry experts due to its ability to provide more informed and intelligent knowledge for decision-making processes. It is evident by literature that organizations and industries are prone to integrate the BIS at large scale, but more than 70% BIS projects fail to give the expected results. Hence, it is pertinent to explore the significant determinants that influence the BIS adoption and acceptance in organizations. Although previous literature did not have any comprehensive review relevant to the individual, technological, organizational, and environmental determinants. Therefore, the current study tries to narrow this gap by a systematic literature review (SLR) of 84 studies that were published during the period of 2011–2020. A total of 93 determinants are identified based on content analysis by using text mining techniques of Yoshikoder and human coding skills. The identified determinants are ranked according to their frequency of use. A theoretical framework has been developed with potential determinants and theories. The study results will enrich the recent BIS literature and improve the understanding of practitioners’ decision-making processes to leverage maximum value from the adoption of BIS.