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

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).

First off, why do we need a business intelligence system for our business? Simply put, an effective

Companies are adopting business intelligence system within their organizations because by using the system reports they can gain the advantages of understanding their internal strength and weaknesses to face external competitors and challenges to increase profits and reduce cost on their everyday operations and processes.

Business Intelligence refers to the variety of systems used by a company to analyze their raw data. The data is stored in data warehouses, in which

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.

Traditionally, business intelligence (BI) has been used as an umbrella term to describe the concepts and methods to improve business decision making by using fact-based decision support systems. BI also includes the underlying architectures, tools, databases, applications, and methodologies. BI’s major objectives are to enable interactive and easy access to diverse data, enable manipulation and transformation of these data, and provide business managers and analysts the ability to conduct appropriate analyses and perform the actions [Turban et al. 2008; Wixom et al. 2011]. Successful BI initiatives have been reported for major industries, from healthcare and airlines, to major IT and telecommunication firms [Anderson-Lehman et al. 2004; Carte et al. 2005; Turban et al. 2008].

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.

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 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.

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 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).

As Wikipedia’s explanation, 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. BI is not a new concept, it was introduced in 1996 for the first time. As the development of BI is the ETL technologies, ETL stands for Extraction Transformation Loading. Data integration platforms focus on extracting and transforming various business data, to support the requirement of Business intelligence, Data Warehouse against the data format and data mining.

Business intelligence is a vital part of keeping an organization competitive. Data mining processes are essential to developing business intelligence. According to a study by IBM, 2.5 quintillion bytes of data are created every day. This total includes everything from photos and social media posts to word processing files, financial records and Snap chats. The objective of data mining is to use the enormous amount of information being produced to understand trends, accumulate additional new information, and develop better processes and services based on research, behavior, and preferences

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)