Describe the importance of business intelligence. - Vidyadip

Question

Describe the importance of business intelligence.

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Answer

The importance of business intelligence is as follows:

Strategy: Business intelligence is used to make better strategic decisions.
Data: Business intelligence, enables organizations to gather quantifiable data on each area of the organization.
Analysis: Business intelligence, enables organizations to analyse data in a way that yields information they can act on.
Efficiency: It helps firms to enhance decision-making, improve performance and mitigate risk.

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