Business intelligence (BI) is a technology-driven process for analysing data and presenting actionable information to help executives, managers and other decision-makers make informed business decisions. Essentially, it is a set of methods and tools that enable the transformation of raw data into meaningful insights. BI tools range from data warehousing and data mining to reporting tools, dashboards and more.

In the context of business strategy, business intelligence plays a crucial role in enabling companies to meet complex challenges with well-founded decisions. This includes the ability to identify market trends, analyse customer behaviour, evaluate operational efficiency and even better manage risks. The resulting insights provide a competitive advantage and can form the basis for differentiated market positioning or other strategic initiatives.

However, the effective use of business intelligence requires more than just access to the relevant tools and technologies. It requires a deep understanding of the business requirements as well as the specific challenges and opportunities hidden in the data to be analysed. This is where the expertise of data analysts and business analysts, who are not only technically adept but also have business acumen, comes into play.

In an increasingly data-driven business world, business intelligence has multiplied its importance. It is not only a tool for large companies with large amounts of data, but also for medium-sized and small companies that want to be more agile and informed. Advanced data analysis capabilities, enhanced by artificial intelligence and machine learning, continue to drive the evolution of business intelligence and open up new ways to gain insights and optimise business strategy.