Carrying out Business Intelligence work purely in house seems financially savvy at first glance, especially if you have a Database Administrator. This process of data analysis is also called data mining or knowledge discovery. Hidden camera, wireless security systems and data security devices have become popular as the global business scenario is on an all time high. People who are in the forecasting department know how many customers will calls (not precisely, but very close to it) based on historical data.
Business Intelligence actually refers to a set of theories, methodologies and technologies that transform raw data into information that can be meaningful and useful to a business in terms of its strategic planning. Performance management is the process of tracking these changes so by encompassing performance management into your business management strategy you can actually change peoples behavior and change business.
The data trailed leads back to the 1970s, when intellectuals first made the argument that what predicted the best performance in business were not traditional academic aptitudes, nor school grades, nor credentials. If you want to design an effective corporate dashboard for your business intelligence technology, you will need to decide on some design goals.
As an example, for a sales database, the dimensions could include Product, Time, Store, etc. Business Intelligence is the broader concept of the use of intelligence in organizations. Supporting analytics offer context and diagnostic information to know why a key performance indicator is showing specific information.
As medical practice business data continues to grow in both volume and complexity, the need for efficient data management becomes an even greater imperative. Intelligence officers use time honed techniques to develop and acquire sources who will provide the desired raw data which becomes analyzed and eventually turns into intelligence.