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Business Intelligence ( Bi )

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Introduction Business intelligence (BI) is defined as the set of techniques and tools for the transformation of raw data into meaningful and useful information for business analysis purposes. BI has been around long before computers and access to the internet. For example, an old ship building yard would have to keep track of its various transactions, employees, profit, suppliers, materials, etc. The shipyard owner would then turn this collected raw data into useful information in order to figure out where the company is going wrong and where it can improve. If the suppliers have not shipped on time for weeks the shipyard would know to find more reliable suppliers - this is a very simple example of utilizing business intelligence. In …show more content…

Many massive, successful companies ' sole purpose is to create user-friendly BI tools. For example, SAP, PeopleSoft, and JD Edwards are all powerful intelligence systems. These systems can help users with nearly any aspect of a company.

Traditional data analytics are helpful to an extent, but when every other company is utilizing them to their potential it becomes much harder to stay on top of the respective industry. So what is the future of BI and data analytics? The answer is contextual analytics.
History of Data Analytics

Data analytics has said to be in place since the late 19th century. One of the first recorded uses of analytics was by a man named Frederick Winslow Taylor. He was an American mechanical engineer who was investigating a way to increase industrial efficiency and was also one of the first management consultants. He authored the book, The Principles of Scientific Management, where he wrote his findings about analyzing workers and then finding a better or faster way to perform every job. Taylor thought that by analyzing work, the "One Best Way" to do it would be found.

Taylor is most best known for developing the stopwatch time study, which combined with Frank Gilbreth 's motion study methods. He would break a job into its component parts and measure each to the hundredth of a minute. He would then come up with ideas and solutions to implement so that each component of a job

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