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There are two main definitions of Business Intelligence (BI) having slightly different meaning:
BI is the ability of human intellect to do business, and more generally, to run a business activity. BI is a field where human intellect runs a business activity using artificial intelligence tools.
BI is a science including all applications and technologies aiming at data collection and extracting information, granting access to those who need to make a business analysis. In this sense, BI aims at helping analysts to quickly take safe decisions.
According to both points of view, BI is an activity of discovery in order to simplify other activities.
More generally, BI leads to the comprehension and identification of the present information, which is not always and not only obvious; information which, considering its great number and accessibility, allows to gain knowledge going beyond trends, statistics and groups in order to focus the attention of a person on every choice taken by him/her.
For this reason marketing, HR, general direction, finances, production and planning cannot ignore it and keep making decisions on the basis of personal hypotheses.
Collecting good data and obtaining information from the data in a fast and easy manner becomes a competition factor for companies.
Starting with data (atom), at present it is finally possible to order the fluid reality into a certain matter manageable in a structural way, thanks to the vision anchored in measurable elements, relations with Clients and knowledge about how the company is perceived by the Clients, the ways the stakeholders, and especially partners, participate in the value of the brand; about the influence of the business on human, social and geopolitical environment in which it is developed, demographical and religious flows, etc., which create behaviours.
BI is a consolidated approach to understand data, which has created new professions: CDO-Chief Data Officer, Data Scientist — the function joining the competences of an IT manager, statistician, mathematician, programmer, process and data analyst in the field of business and functional decisions, modelling expert, risk manager — this is the function joining all these skills in different forms.
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