Define “business intelligence” (BI).

Business intelligence (BI) is accurately defined as an umbrella term for technologies and practices that collect, integrate, analyze, and present business data for better decision-making. This interpretation encompasses the various processes and tools used to transform raw data into meaningful insights that can guide strategic planning and operational improvements within an organization. By leveraging BI, businesses can gain a deeper understanding of their performance metrics, market trends, and customer behavior, enabling them to make informed decisions that can lead to competitive advantages.

This definition captures the multifaceted nature of BI, illustrating that it is not limited to a singular software or technique but rather a combination of methodologies and technologies that work together to enhance data-driven decision-making across various business functions.