| Generating data for business benefit is termed as | | | | what kind of analysis is done. Analysis can be done in |
| business intelligence. Taking data and converting the | | | | forms of different colors. These kinds of reports |
| same into information for creating knowledge is | | | | having scorecard information with the red, amber and |
| business intelligence (BI). Data should reach people at | | | | the green colors are called as RAG reports. It makes |
| right time, place and format in order for making | | | | it easier for the audiences to see the performance |
| better decisions for driving business benefits. | | | | of the project according to target decided in the |
| There have been tremendous mergers and | | | | form of red, amber and the green color. |
| acquisitions which have taken place in business | | | | - Red indicating bad performance |
| intelligence over the past few years. The large scale | | | | - Amber indicating an average performance and |
| software developers have adopted pure play to | | | | - Green being the best from the others. |
| providers of business intelligence. Over the past | | | | Business Intelligence is a broad term and used in |
| years, the industry was ineffective of delivering what | | | | various ways. Once the information is acquired, in |
| BI wanted, but with the mergers and acquisitions of | | | | clear and brief format, one needs to monitor on how |
| bigger companies there has been much potential in | | | | the information is used and its impact on business. |
| technology space for delivering information. As a | | | | Tracking these changes for business management |
| result, the scenario has changed completely and the | | | | process into business strategy can mould people's |
| technology is able to deliver more than what is | | | | business and behaviors. |
| expected to deliver most users ask for before | | | | Once business needs are decided based on business |
| starting a project. | | | | intelligence solutions, first thing what an individual |
| Producing appropriate data for projects is not that | | | | should do it to create a tool which will allow the |
| easy as well on the other hand. Obtaining data and | | | | person the implement solution. One of the common |
| turning into productive information for business | | | | mistakes that most companies do is to, approach |
| benefit is a very responsible job. There can be | | | | several companies, vendors and get various different |
| different types and ways in which information can be | | | | kinds of presentations for company. By doing this, |
| arranged for concluding best decision which will help | | | | the overall objective of process gets distracted by |
| to gain knowledge and information by business. For | | | | different technologies. The main criterion for business |
| instance, two dimensional reports or report having | | | | intelligence is, focusing on the most productive |
| graphics can be printed or sent via an email or it can | | | | information. In other words, what exactly is required |
| be presented via office applications like outlook, word | | | | to expand the business needs to be achieved. The |
| or an excel. A presentation can be made through | | | | vendor should be educated on how the technology is |
| dashboards or through power point presentations to | | | | going to benefit business in various ways. |
| audiences. It helps to give a short snap shot for | | | | |