What is Business Intelligence (BI)?

Many people have heard of the term Business Intelligence(BI), but may be unsure what it actually means. Business Intelligence refers to the insights gained from analyzng the business information that companies hold. Businesses hold vast quantities of data, all of which can potentially provide them with detailed insights to inform critical business decisions. This data needs to be mined and analyzed in the right way to realize its full potential and to provide valuable insights for the business.