Problem Description"Business intelligence, or BI, is an umbrella term that refers to a variety of software applications used to analyze an organization’s raw data. BI as a discipline is made up of several related activities, including data mining, online analytical processing, querying and reporting. Companies use BI to improve decision making, cut costs and identify new business opportunities. BI is more than just corporate reporting and more than a set of tools to coax data out of enterprise systems. CIOs use BI to identify inefficient business processes that are ripe for re-engineering. With today’s BI tools, business folks can jump in and start analyzing data themselves, rather than wait for IT to run complex reports. This democratization of information access helps users back...decisions that would otherwise be based only on gut feelings and anecdotes." Quoted from: http://www.cio.com/article/2439504/business-intelligence/business-intelligence-business-intelligence-definition-and-solutions.html
Business intelligence (BI) is not only for businesses, but also for government, nonprofits, and others. It ensures that data is treated as an asset while enabling answers to questions that would otherwise remain elusive. For cities, BI is foundational to additional capabilities such as predictive analytics. BI is a cornerstone to building out a data-driven process in any organization.
Solution StageOne of the 7 stages of an innovation. Learn more
|STAGE||SPECIALIST SKILLS REQUIRED||EXAMPLE ACTIVITIES||RISK LEVEL AND HANDLING||FINANCE REQUIRED||KINDS OF EVIDENCE GENERATED||GOAL|
|Making the case4||Business development and evaluation|
|A stronger case with cost and benefit projections developed through practical trials and experiments, involving potential users||Clarity about what warrants implementation and funding|