BI best practices Definitions

  • A

    Ad Hoc Analysis

    Ad hoc analysis is a business intelligence (BI) process designed to answer a single, specific business question.

  • analytic database

    An analytic database is specifically designed to support business intelligence (BI) and analytic applications, typically as part of a data warehouse or data mart.

  • B

    blue ocean strategy

    Blue ocean strategy is a business plan of action developed by W. Chan Kim and Renée Mauborgne and detailed in their 2005 book, Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant.

  • C

    customer analytics (customer data analytics)

    Customer analytics, also called customer data analytics, is the systematic examination of a company's customer information and customer behavior to identify, attract and retain the most profitable customers.

  • D

    decision-making process

    The decision-making process, in a business context, is a set of steps taken by managers in an enterprise to determine the planned path for business initiatives and to set specific actions in motion.

  • K

    key performance indicators (KPIs)

    Key performance indicators (KPIs) are business metrics used by corporate executives and other managers to track and analyze factors deemed crucial to the success of an organization.

  • O

    operational efficiency

    Operational efficiency is the ability of an organization to reduce waste in time, effort and materials as much as possible, while still producing a high-quality service or product.

  • P

    process intelligence (business process intelligence)

    Process intelligence is data that has been systematically collected to analyze the individual steps within a business process or operational workflow. 

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