Data and key performance indicators (KPIs) are essential business tools. KPIs help organisations understand how well they are performing in relation to their strategic goals and objectives. Data is the ‘raw material’ that feeds KPIs as well as any business intelligence project or data analysis.
Business intelligence (Bi) refers to technologies, applications, and practices for collecting, integrating, analyzing, and presenting business information. Analytics refers to the use of (a) data and evidence, (b) statistical, quantitative, and qualitative analysis, (c) explanatory and predictive models, and (d) fact-based management to drive decision making. Together, they include approaches for gathering, storing, analysing and providing access to data that helps users to gain insights and make better fact-based business decisions.