Business intelligence is essentially a science of economics, according to the scientific method. This means that based on data rather than guesswork. These data are gathered using fair, accurate, unbiased means, and organized in a logical manner to produce the best results.
It is not simply some employee walking around and saying what he thinks is a careful observation and data collection, which is in turn placed in a large, organized database for careful and considerate review by experts in business management.
A well-designed business intelligence system should be able to pull data with minimal effort and cost to recall, the whole point is to make the company more efficient and profitable to convert the data into a usable form for company directors and employees. Business intelligence and monitoring the activities of the companies can focus on something other than your company, too. You can use business activity monitoring to track, for instance, other competing companies and see how they’re doing compared to you.
You can also use business intelligence for companies that depend on or work, although not directly compete with you. For example, if you use a landscaping company, wants to monitor services, quarries, peat, and all the various services and companies depend on to make sure your company ran smoothly.
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