Business intelligence analyses the past and helps you to come up with a strategy to improve the future. Most organizations are using business intelligence to enable them to get higher sales and return on investments. When organizations perform their day to day operations, they use different kinds of IT systems such as ERP or enterprise resource planning, client management systems or business operational intelligence software applications.
During the automated or during the manual operations, data gets generated. Such data is generally called primary data. In medium to large organizations, most of the primary data resides in databases. And some of this data may also reside outside IT as well. This raw data that is in the databases needs to be analyzed and meaningful information is extracted.
One the basis of this meaningful information, the business analysts come up with strategies for the future. The main objective for business analysis is to gain stability and to gain profits in the future. Most business organizations don't have the skilled personnel for the analysis of the raw data.
Hence, they hire business intelligence services to do the business analysis. Once the analysis is done, the business analysts from the business intelligence services would prepare reports. These reports are then presented to the board of directors or the other stakeholders of the company.