APPLICATION OF BUSINESS INTELIGENCE IN BUSINESS ANALYSIS

Abstract

Modern business increasingly relies on the application of information technologies. Business intelligence should be a part of the organization’s information system, with the role to facilitate and improve the organization’s management. Business intelligence is an area of information technology, which aims to achieve high-quality decisions in order to fulfill company’s strategic goals. It includes 
different types of technology and approaches involved in the field of IT, management, statistics, and mathematics.
Business intelligence, together with knowledge management, forms new system concepts of collecting, organizing, storing, and exchanging knowledge in order to achieve the goals in given business system. Business intelligence systems are tools that help managers organize and make decisions from their data.  Effective Business Intelligence systems strive for efficient collection, formatting of information and use in an optimal way for communication with different interested parties.

Many software packages and applications have been created in this way. One of them, power BI (Business Intelligence) is a tool developed by Microsoft that enables data visualization and analysis to help users make informed business decisions. It enables creation of personalized Dashboards, interactive reports, visualizations, and geo-maps, whereby data can be combined from almost any application or data source, regardless of whether the data is in the cloud or locally.