The term Business Intelligence (BI) means processes and procedures for systematic analysis of production data (gathering, evaluation and visualization) in electronic form. The idea is to gain knowledge that can be used to optimize operative and strategic decision-making with a view to the achievement of corporate goals. The required knowledge is gained by means of analytical concepts, dedicated software and IT systems which evaluate data of the company, production data and the market development. The thus obtained information helps companies to make their business processes, and customer-supplier relations more profitable, reduce costs, minimize risks and increase their added value.
Today, Business Intelligence (BI) system with interactive analysis functions and comprehensive web reporting features is a core element of any modern planning system. It is able to map the production including consumed resources and use of equipment in great detail. This allows all relevant and detailed data to be made available at one central position for analysis purposes.