Business Intelligence Management (BIM) refers to using computer-based procedures to analyze and identify business data. This plays an important role in the decision making process of a company. The technologies used in business intelligence management offer past, present and predictive perspectives on operation. The regular functions are reporting, analytics, process mining, data mining, benchmarking, predictive analytics, text mining, business performance management.

1.
Business Intelligence Management (BIM) refers to using computer-based
procedures to analyze and identify business data. This plays an important role
in the decision making process of a company. The technologies used in business
intelligence management offer past, present and predictive perspectives on
operation. The regular functions are reporting, analytics, process mining, data
mining, benchmarking, predictive analytics, text mining, business performance
management and online analytical processing.
Often BI management is associated with data warehousing. It is mainly because BI

2. tools use information from the data mart. However, not all data marts are used for
BI processes. Similarly, not every BI application needs a data warehouse.
Forrester distinguishes business intelligence management from data warehousing.
BI management consists of processes, methodologies, technologies and
architectures that convert raw information into significant information. This
information in turn plays an active role in attaining a sound tactical, operational
and strategic perspective and helps in decision making. At the same time, the
process includes data quality, data integration, master data management, data
warehousing, content analytics and other allied components
Entrepreneurs and business houses often find it difficult to decide on the apt
business approach. Apart from visibility, everyone wants sensitive insight that
would help the organization perform better. Therefore, it really becomes tough
for an enterprise to decide whether to opt for a new reporting tool or to improve
the quality of the present one. Keeping all these in mind, eminent service
providers in BI applications have introduced efficient strategic and operational
tools. The applications offer a comprehensive range of solutions that offer an
intuitive intelligence - covering junior to senior management levels. They also have
the ability to perform in various complex environments and the ever-changing
competitive business market.
According to a Gartner prediction in 2009, there are several reasons for the
development of business intelligence management:
● It was predicted that by 2012, one-third of the analytic systems implemented
in business processes would be via a coarse grained application system.
● It is estimated that by 2012 most business units will organize 40 percent of
the overall funds for BI.
Business intelligence management not only assists in sound decision making but
also helps in streamlining business processes and helps in gaining maximum
profits.
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