Business Intelligence (BI) - the set of tools used to analyse business data - has come a long way since the days of paper records and arithmetic by hand.
Today's systems offer an endless array of
methods to gain to consumer data and save money.
If you aren't already taking full advantage of BI technology, you might do after reading this.
Follow our history of the industry, from 19th-century bankers to the Internet of Things.
Read next: Best business intelligence software
March 9, 2018
3. Business Intelligence 2.0
The 2000s: Business Intelligence power becomes concentrated in the hands of Microsoft, Oracle, IBM and SAP, who consolidate varied applications under their own platforms.
Predictive analysis provides a new method of
using data, algorithms and machine learning to forecast business future changes.
Cloud technologies and internet-based software come to the fore as real-time feeds and improved visualisation change the way data is viewed. Ecommerce and social networks introduce new opportunities for Business Intelligence with the launches of Facebook, YouTube and Twitter.
By the end of the decade, 21% of all businesses and 67% of "best in class" companies have adopted some form of self-service BI, according to research by the Aberdeen Group.