A business intelligence architecture includes more than just BI software. Business intelligence data is typically stored in a data warehouse built for an entire organization or in smaller data marts that hold subsets of business information for individual departments and business units, often with ties to an enterprise data warehouse. In addition, data lakes based on Hadoop clusters or other big data systems are increasingly used as repositories or landing pads for BI and analytics data, especially for log files, sensor data, text and other types of unstructured or semistructured data. A successful BI program produces a variety of business benefits in an organization. For example, BI enables C-suite executives and department managers to monitor business performance on an ongoing basis so they can act quickly when issues or opportunities arise. Analyzing customer data helps make marketing, sales and customer service efforts more effective. Supply chain, manufacturing and distribution bottlenecks can be detected before they cause financial harm. HR managers are better able to monitor employee productivity, labor costs and other workforce data.
The key benefits that businesses can get from BI applications include the ability to:
- speed up and improve decision-making;
- optimize internal business processes;
- increase operational efficiency and productivity;
- spot business problems that need to be addressed;
- identify emerging business and market trends;
- develop stronger business strategies;
- drive higher sales and new revenues; and
- gain a competitive edge over rival companies.
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