What is business intelligence? What is its primary purpose?

Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
icon
Related questions
Question
What is business intelligence? What is its primary purpose?
Expert Solution
Step 1: About Business Intelligence

The process of gathering, evaluating, and presenting data to support decision-making inside an organization is known as business intelligence (BI). It entails transforming unprocessed data into insightful knowledge that can be used for operational, tactical, and strategic decisions. Business intelligence gives companies a deeper understanding of their operations, clients, market trends, and rivals so they can make wise decisions and acquire a competitive edge. Business intelligence is fundamentally about turning unprocessed data into useful knowledge. It entails utilizing a range of methodologies and technologies in order to collect, organize, process, and analyze data in a way that aids organizations in making wise decisions. These choices could be made in relation to a company's operations, marketing, finances, or strategy.

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Excel Sheet
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Principles Of Marketing
Principles Of Marketing
Marketing
ISBN:
9780134492513
Author:
Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:
Pearson Higher Education,
Marketing
Marketing
Marketing
ISBN:
9781259924040
Author:
Roger A. Kerin, Steven W. Hartley
Publisher:
McGraw-Hill Education
Foundations of Business (MindTap Course List)
Foundations of Business (MindTap Course List)
Marketing
ISBN:
9781337386920
Author:
William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:
Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing: An Introduction (13th Edition)
Marketing
ISBN:
9780134149530
Author:
Gary Armstrong, Philip Kotler
Publisher:
PEARSON
MKTG 12:STUDENT ED.-TEXT
MKTG 12:STUDENT ED.-TEXT
Marketing
ISBN:
9781337407595
Author:
Lamb
Publisher:
Cengage
Contemporary Marketing
Contemporary Marketing
Marketing
ISBN:
9780357033777
Author:
Louis E. Boone, David L. Kurtz
Publisher:
Cengage Learning