June 16, 2006, Newsletter Issue #1: Business Intelligence By The Numbers

Tip of the Week

The idea behind business intelligence software is to use it to gather and analyze large collections of unstructured data and turn it into useful business information. This can be used for a business analyzing itself or for performing competitive business research. There's no standard set of tools for business intelligence software, but most business intelligence tool sets will include some of the following: * Scorecarding: Measuring a company's success at implementing its vision and strategies. * Competitive analysis: Using metrics to measure your business against competitors according to key success factors. * Data mining: Identifying trends through analysis of large databases. * Decision support systems: Helping in the decision-making process by forecasting the results of the decision. * Knowledge management: Captures, stores and categorizes specific business knowledge within the company.Related Tip: Use business intelligence software to analyze your own business or a business competitor. Business intelligence software tools or business intelligence reports from Manta allow users to access business resources including competitive analysis and market trends for your business or your competitor.

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