BI Management Definitions

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  • A

    ad hoc analysis

    Ad hoc analysis is a business intelligence (BI) process designed to answer a specific business question by using company data from various sources.

  • analytic database

    An analytic database, also called an analytical database, is a read-only system that stores historical data on business metrics such as sales performance and inventory levels.

  • asset turnover ratio

    The asset turnover ratio is a measurement that shows how efficiently a company is using its owned resources to generate revenue or sales.

  • B

    business intelligence (BI)

    Business intelligence (BI) is a technology-driven process for analyzing data and delivering actionable information that helps executives, managers and workers make informed business decisions.

  • business intelligence architecture

    A business intelligence architecture is a framework for the various technologies an organization deploys to run business intelligence and analytics applications.

  • business intelligence competency center (BICC)

    A business intelligence competency center (BICC) is a team of people that, in its most fully realized form, is responsible for managing all aspects of an organization's BI strategy, projects and systems.

  • business intelligence dashboard

    A business intelligence dashboard, or BI dashboard, is a data visualization and analysis tool that displays on one screen the status of key performance indicators (KPIs) and other important business metrics and data points for an organization, department, team or process.

  • C

    collaborative BI (collaborative business intelligence)

    Collaborative BI (collaborative business intelligence) is the merging of business intelligence software with collaboration tools, including social and Web 2.0 technologies, to support improved data-driven decision making.

  • D

    data sampling

    Data sampling is a statistical analysis technique used to select, manipulate and analyze a representative subset of data points to identify patterns and trends in the larger data set being examined.

  • days sales outstanding (DSO)

    Days sales outstanding (DSO) is the measurement of the average number of days it takes a business to collect payments after a sale has been made.

  • decision-making process

    A decision-making process is a series of steps one or more individuals take to determine the best option or course of action to address a specific problem or situation.

  • E

    edge analytics

    Edge analytics is an approach to data collection and analysis in which an automated analytical computation is performed on data at a sensor, network switch or other device instead of waiting for the data to be sent back to a centralized data store.

  • K

    key performance indicators (KPIs)

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

  • key results indicator (KRI)

    A key result indicator (KRI) is a metric that measures the quantitative results of business actions to help companies track progress and reach organizational goals.

  • 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.

  • operational intelligence (OI)

    Operational intelligence (OI) is an approach to data analysis that enables decisions and actions in business operations to be based on real-time data as it's generated or collected by companies.

  • 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.

  • S

    self-service analytics

    Self-service analytics is a type of business intelligence (BI) that enables business users to access, manipulate, analyze and visualize data, as well as generate reports based on their discoveries.

  • self-service business intelligence (self-service BI)

    Self-service business intelligence (BI) is an approach to data analytics that enables business users to access and explore data sets even if they don't have a background in BI or related functions such as data mining and statistical analysis.

  • standard operating procedure (SOP)

    A standard operating procedure (SOP) is a set of written instructions that describes the step-by-step process that must be taken to properly perform a routine activity.

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