Business Intelligence

1- What is Business Intelligence?

In a nutshell, Business Intelligence is the mastery of strategic information useful to economic actors.

Business intelligence essentially means understanding and learning what's happening in the world outside your business so you can be as competitive as possible. It means learning as much as possible - as soon as possible - about your industry in general, your competitors, or even your county's particular zoning rules. In short, it empowers you to anticipate and face challenges head on.

Intelligence: The US National Security Agency gives the following definition of "intelligence" in this context, it is "...knowledge and foreknowledge of the world... [that is] the prelude to...decision and action"1.

The term "foreknowledge" refers to the future and its evaluation relative to the present. The phrase "prelude to decision and action" focuses on the need to have some kind of system in place whose aim is to capture the value of the data gathered and its analysis that will lead to a business response.

1. The cycle of intelligence

The intelligence cycle is the process of developing unrefined data into polished intelligence for the use of policymakers. The intelligence cycle consists of six steps [Appendix 1]. The graphic below shows the circular nature of this process, although movement between the steps is fluid. Intelligence uncovered at one step may require going back to an earlier step before moving forward.

I. The first phase planning and direction – In this phase, decision maker should define the company's requirements in terms of what information is needed? Why is it needed? When is it due? It involves working with decision makers to discover their intelligence needs and then translating those needs into their specific intelligence requirements. (Ranjit Bose, 2008)

II. The collection activities include identification of all potential sources of information and then research and gather the right data legally and...