Current Business and Technology Conditions That Complicate Effective Application of Business Analytics to Business Intelligence and Knowledge Management Data, and the Prospects for Improvement

One field of research is business intelligence, which uses different technology and activities to gather, store, and analyze data to help businesses make better decisions.

The team of business analysts come from various backgrounds. Business analytics will be used to gather data. This data will include, demographics,

2. Business intelligence: Delivers synchronized, business-critical data in a variety of diagnostic tools to view market trends and build relationships that help facilitate timely decision making (Microsoft Dynamics NAV, 2011).

Business Intelligence or BI is a computer-based system which is used by organizations for decision making purpose. It consist of a huge data warehouse or data marts of business data, from which it performs mining, recognizing, digging or analyzing operations to produce suitable results/reports. BI applications include a wide range of activities for statistical analysis, Data mining, querying and reporting, business performance analysis, Online Analytical Processing, and forecasting and predictive analysis. It provides organizations with significant information regarding employees, consumers, dealers and other business associates, which can be used in effective decision making.

In every long term strategic planning, many companies considered data collection and analysis as a fundamental activity. Big companies that strive to achieve a sustainable advantage over their competition made use of information management system to help them analyze their data. These activities have evolved to what is now known as business intelligence of BI.

Business analytics is different to Business intelligence which also uses statistical methods. Business analytics uses statistical methods and data to arrive at fresh understanding and illumination of a situation, whereas business intelligence uses statical data to serve as querying, reporting or alerts. Business analytics, therefore, is, one may say, the detective side of business using the statistics to develop and progress the business or direct it in new directions rather than revamping it with existent and supportive data. Business intelligence, in other words, uses the data to inform stakeholders and others what is occurring with the business, what the action is, and what steps are being taken.

Business Intelligence is gaining popularity in many organizations and companies. Business Intelligence solutions are developed to help the organizations understand their customers, activities and performance. BI solutions act as measurements units for a business or an organization. Deficient intelligence leads to weak decision making. BI has

Business Intelligence is all about decision making with a data driven approach. It is a broader term and a super set containing tools, architectures, technologies and techniques that leverage insights from data (various problems or business processes) for analysis, querying, reporting and performance improvement. It is based on measuring or analyzing the historical data and past performance for driving insight and answers to questions like “What occurred?”, “How frequently is occurred?” and “Its impact?”. It includes processes and techniques for data collection, data analysis, data sharing, and reporting using dashboards, illustrative reports and interactive visualizations that laymen understand, all in the service better data driven decision making.

BA is used to gain insights that inform business decisions and can be used to automate and optimize business processes.  Data-driven companies treat their data as a corporate asset and leverage it for competitive advantage. Successful business analytics depends on data quality, skilled analysts who understand the technologies and the business and an organizational commitment to data-driven decision making.

According to1Gartner (2013) „Business analyticsis comprised of solutions used to build analysis models and simulations to create scenarios, understand realities and predict future states.”

Business Intelligence - In today 's hastily changing and competitive business environment, the need for effective business information is acknowledged. It is crucial for companies just not only to succeed, but also to survive. Business intelligence (BI) is refers to a managerial beliefs and a tool that is used in to assist organizations to manage their information in such a way so that decision making can get better. Business Intelligence (BI) has become an important part of corporate business strategies. (Azevedo, Santos) To be efficient in business intelligence companies use various software. BI software helps organizations to gain in-depth insight into their business. These analyses enable organizations to make better decisions and ultimately improve overall business performance. Businesses need information systems to be able to run these analyses.

In the last few decades, because of availability of vast amount of data in the electronic forms, and the increase in requirements associated with its conversion into desired information, for its use in analysis of market, business management and to aid in decision process. There are many systems and technologies developed, that helped managers to make better decisions and avoid failures that are commonly associated with relying upon intuitions. Business Intelligence Systems are information systems, that are designed to allow managers to capitalize upon organization data, for the purpose of improving their decision making. They do not support the real time activities but operational ones like order processing, recording etc. The real time activities are supported by transaction processing systems. BI systems helps in managerial assessment, planning and control.

Business intelligence consists of tools and systems that collect data, analyze it and store it which will help in decision making process. Business intelligence consists of number of tools and applications which help the organization in collection of data from different sources, develop and run queries against that data and create visualization and dashboards on that business intelligence data which will help business managers in making effective decisions. It includes large set applications like ad-hoc analysis, online analytical processing (OLAP)

Business Intelligence is the gathering and analysis of large amounts of information so as to gain insights that propagate strategic and tactical business decisions. Business Intelligence is the conglomeration of the processes and technologies which change data into information. It encompasses a wide category of technologies, including data warehousing, multidimensional analysis or online analytical processing, data mining and visualization, as well as basic queries and multiple types of analytical tools for reporting. These technologies allow business stakeholders to collect, store, access, and do the analysis of data to improve the business decision-making capabilities (Khan, 2005).

Business intelligence (BI) is the set of techniques and tools for the transformation of raw data into meaningful and useful information for business analysis purposes. It is a solution package, to integrate all the existing data of organizations efficiently, provide accurate report to support high level managers to make business strategic decision.