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Running head: Business Intelligence Systems
Business Intelligence Systems 2
Executive Summary
Business Intelligence Systems is an umbrella term that is commonly used to refer to the
variation of software applications that analyze a company’s raw data. This includes data
mining, online analytical processing, and reporting. Today, business intelligence
software is crucial to a company and can significantly help a company succeed. By
storing large amounts of data for the company and then analyzing it further, companies
are now able to make better business decisions. Although business intelligence systems
are very helpful, it is important to realize that this software comes with many risks.
Business Intelligence software and its many components can be prone to
administrative, technical, and physical risks. To properly invest in this software, you
must properly invest in risk management as well. When a company invests in a
business intelligence system and develops a proper risk management, the software can
bring a company to new heights.
Keywords: Business intelligence systems, software, risk management, data mining
Business Intelligence Systems 3
Today, behind every successful company there is a business intelligence system
that the company relies on for their success. Without such a system, a company’s
finance department would have to run manual reports that not only would be prone to
error, but also be very time consuming. Business Intelligence, also known as BI, refers
to technologies, applications and practices for the collection, integration, analysis, and
presentation of business information. In simpler terms, a business intelligence system is
a collection of software applications used to interpret an organization’s raw data. The
purpose of Business Intelligence is to support better business decision making.
Fundamentally, Business Intelligence systems are data-driven Decision Support
Systems (DSS). In the finance sector off business, Business Intelligence is often used
