MIS - Business Intelligence System

Characteristics of BIS

It is created by procuring data and information for use in decision-making.
It is a combination of skills, processes, technologies, applications and practices.
It contains background data along with the reporting tools.
It is a combination of a set of concepts and methods strengthened by fact-based support systems.
It is an extension of Executive Support System or Executive Information System.
It collects, integrates, stores, analyzes, and provides access to business information
It is an environment in which business users get reliable, secure, consistent, comprehensible, easily manipulated and timely information.
It provides business insights that lead to better, faster, more relevant decisions.

Benefits of BIS

Improved Management Processes.
Planning, controlling, measuring and/or applying changes that results in increased revenues and reduced costs.
Improved business operations.
Fraud detection, order processing, purchasing that results in increased revenues and reduced costs.
Intelligent prediction of future.

Approaches of BIS

For most companies, it is not possible to implement a proactive business intelligence system at one go. The following techniques and methodologies could be taken as approaches to BIS −

Improving reporting and analytical capabilities
Using scorecards and dashboards
Enterprise Reporting
On-line Analytical Processing (OLAP) Analysis
Advanced and Predictive Analysis
Alerts and Proactive Notification
Automated generation of reports with user subscriptions and "alerts" to problems and/or opportunities.

Capabilities of BIS

Data Storage and Management −

Data ware house
Ad hoc analysis
Data quality
Data mining

Information Delivery

Dashboard
Collaboration /search
Managed reporting
Visualization
Scorecard

Query, Reporting and Analysis

Ad hoc Analysis
Production reporting
OLAP analysis

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