Analytical Information Technology (Ait)

2417 Words10 Pages
Business Intelligence (BI)
The financial services industry is rapidly changing. Factors such as globalization, deregulation, mergers and acquisitions, competition from nonfinancial institutions, and technological innovation, have forced companies to re-think their business.
Many large companies have been using business intelligence (BI) computer software for some years to help them gain competitive advantage. With the introduction of cheaper and more generalized products to the market place BI is now in the reach of smaller and medium sized companies.

Defining business intelligence
“Business intelligence is the process of gathering high-quality and meaningful information about the subject matter being researched that will help the
…show more content…
Think of the BI infrastructure as a set of layers that begin with the operational systems information and Meta data and end in delivery of business intelligence to various business user communities. These layers are illustrated in Figure below.

Applications in an enterprise
Business intelligence can be applied to the following business purposes, in order to drive business value. 1. Measurement – program that creates a hierarchy of performance metrics and benchmarking that informs business leaders about progress towards business goals (business process management). 2. Analytics – program that builds quantitative processes for a business to arrive at optimal decisions and to perform business knowledge discovery. 3. Reporting/enterprise reporting – program that builds infrastructure for strategic reporting to serve the strategic management of a business, not operational reporting. 4. Collaboration/collaboration platform – program that gets different areas (both inside and outside the business) to work together through data sharing and electronic data interchange. 5. Knowledge management – program to make the company data driven through strategies and practices to identify, create, represent, distribute, and enable adoption of insights and experiences that are true business knowledge.
In addition to above, business intelligence

More about Analytical Information Technology (Ait)

Get Access