Business Intelligence For Financial Processes – The New Trend in Business Technology

Business intelligence or BI for short refers to the technologies, skills, practices, applications and solutions that are now used in order to help a certain business to get a hold of better understanding regarding its commercial context. There are also some people that pertain to business intelligence as the act of collecting the relevant data so that they can turn into business benefits in no time. The data are then turned into information, which the business will use so that they can distribute them to the right people in the right format to make decision that will drive business gains. Now the question is: what is business intelligence for financial? Better yet, how do you measure your company’s BI in terms of financial matters?Most people do not really know how to answer that due to the fact that the organization that they are working on is just about to get into that field. Even though this is the case, there is a great need for them to learn more about the financial business intelligence. So what is this? In general, this is the process that involves getting sets of information that are useful. These groups of information are not just any other type of data that they encounter because they actually come from financial data. Now, onto the next question: how do you measure this BI? The answer can be simplified by making the big picture smaller. You will have to include objectives that will allow you to create a vision that involves financial leadership, coach your company to set rational goals and support the best possible decision making processes.

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