BUSINESS INTELLIGENCE - A CONDITION FOR SUCCESSFUL BUSINESS

Abstract

Information is becoming a key factor for a successful business. Most of the successful business leaders have always relied on some type or form of data to help them make quick, wise decisions. Today business leaders have access to data more than ever before. But, all data is not accurate and may generate bad business decisions. In fact, without a well-developed security system of protection and use of timely and accurate data provided by business intelligence, business cannot be successful and achieve high results/profit.
Business intelligence is essential for obtaining accurate data that will help decision making at all levels in businesses and also protects company's business of frauds that lead to severe consequences such as losing consumers' trust, reputation damage, legal penalties etc. In this paper, we refer to the challenges of research (business intelligence) and protection (counterintelligence) and their measures, and point out how businessmen can use them as a condition for a successful business. The main goal of business intelligence is to provide real information at the right time and in the right place to make the right decision on business, and gain an advantage over competition.
Technology advances in business intelligence may be significant factor in business decision-making. Businesses use software tools to perform historical and predictive analysis of big data. This data is used to discover the causes of trends and events, as well as to find solutions to improve business operations. In conditions of a high-tech business environment that is constantly changing, the flexibility of the business is crucial. From the internet to artificial intelligence, companies rely on the latest advances in technology to succeed in running their business.