Business Intelligence: What You Should Know
Every company aspires to be successful. Growth is often the key to success. Customer retention and new customer acquisition are the two main sources of success for most companies. "Business Intelligence" can assist an organization in gaining new customers as well as retaining existing ones. The term "business intelligence" is abbreviated as BI. Business intelligence, according to a formal description, is a method of gathering data in the field of business. BI transforms data into information, which is then transformed into knowledge. Any company may use business intelligence to get a better understanding of their customers' needs. Businesses with a lot of data on their customers will use it to make decisions. Businesses that use business intelligence gain insight into their customers' desires, decision-making processes, and economic, cultural, and technical developments. Businesses can choose between short-term and long-term targets by using bu...