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Business Intelligence (BI)
Technologies and strategies used by companies to analyze data and provide actionable insights.
Implications
The technologies, applications, and practices used to collect, integrate, analyze, and present business data to support decision-making and improve performance.
Example
Example: A retail company uses business intelligence tools to analyze sales data, identifying trends and optimizing pricing strategies across different regions.
Related Terms
Different from business analytics, which often includes predictive modeling and advanced statistics, BI focuses on reporting, dashboards, and data visualization.
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