BRIEF DESCRIPTION
PAS Business intelligence (BI), in a broader sense, is a set of concepts, methods, applications, and technologies, which are utilized to transform raw data into meaningful information. This information can be utilized by stakeholders to make decisions. Organizations utilize BI practices, tools, and techniques to understand their state of affairs, competitors, and market conditions. This enables organizations to address existing business problems and develop organizational plans that provide a competitive advantage.
It is important for organizations to apply BI practices and implement BI tools to the project accounting, so that they can understand the status of the projects, accounts, trends, history, and information about underlying components.
Predictive analysis capabilities available in BI tools can also be applied to utilize past information in order to derive models and analysis that help the project and its underlying components and future outcomes. Application of BI provides visibility and assists in decisions that help in proactively managing projects.