Living Reference Work Entry

Encyclopedia of Database Systems

pp 1-6

Date: Latest Version

Business Intelligence

Definition

Business intelligence (often referred to as BI) is a business management term that indicates the capability of adding more intelligence to the way business is done by companies. More precisely, it refers to a set of tools and techniques that enable a company to transform its business data into timely and accurate information for the decisional process, to be made available to the right persons in the most suitable form. Business intelligence systems are used by decision makers to get a comprehensive knowledge of the business and of the factors that affect it, as well as to define and support their business strategies. The goal is to enable data-based decisions aimed at gaining competitive advantage, improving operative performance, responding more quickly to changes, increasing profitability and, in general, creating added value for the company.

Historical Background

Business intelligence was coined as a term in 1958 by Hans P. Luhn, to indicate a system capable of processing d ...

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