Business Intelligence refers to the use of software applications to organize and analyze business data. Visualized data from BI allows your company to implement a strategy to increase operational efficiency and improve decision-making within your business. Through BI reporting, analytical processing, and data analysis, business teams can review charts, infographics, and performance scorecards to optimize your internal business processes. Not only can your company look within its own operations and decision-making processes, it can develop a competitive advantage by comparing your success to that of your biggest rivals. When it comes to successfully implementing this software for your business, it helps to understand the most important principles of business intelligence.