Business Intelligence allows the decision maker to understand their business and the business environment in order to make informed decisions. Decision making requires evaluating performance (what happened), testing hypotheses (why and how things happened) and predicting future events (what may happen)
BI system focuses on the system, tools, technology, process, and techniques that compose these four elements that help decision makers understand their world. BI augments the ability of decision makers to turn data into information by aiding in extracting data from data sources, organizing the data based on established business knowledge and then presenting the information in a manner that is organized in a way to be useful to the decision maker. It merges technology with knowledge in order to provide useful information to management as quickly as possible.
Business intelligence tools are a type of application software designed to report, analyze and present data. The tools generally read data that have been previously stored, often, though not necessarily, in a data warehouse or data mart.
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