Business Intelligence and OLAP

What exactly is the definition of business intelligence. At first glance it might seem that one definition would be the opposite of business stupidity. However; despite the wording, business intelligence the process of gathering and processing data that will be beneficial to any one business.

The Gathering of Business Intelligence

For most businesses this basically means the study of their customers buying habits and changing needs as it pertains to the products or services that a business is providing. Another aspect of business intelligence my be the studying of of a businesses strengths and weakliness as well as their competitions.

A Labor Intensive Costly Proposition

So, needless to say the task of gathering and processing of business intelligence can be a very labor in tensive and costly proposition. Surprisingly, with so much work having gone into business intelligence, a recent study determined that 90% of business managers have very little faith in their companies business intelligence.

A New Solution

So what is the solution? One new solution that more and more businesses are using is what are called business intelligence tools. Business intelligence tools are basically software that is developed to more accurately and efficiently process the data that is gathered as business intelligence.

OLAP or (On Line Analytical Processing)

OLAP or (online analytical processing), is just one of those tools that are now available. It is important to remember that a massive file of data is completely worthless unless the people that need to use it can understand it and make use of it. OLAP can allow a person who's strong point is the gathering of business data, yet who is lacking in the ability to make it understandable to the "common Joe" to have a place where their data can be processed and clarified.

Source by Josef Frederiksten

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