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Business Intelligence provides a general knowledge framework so that companies understand the operations key figures, the performance metrics or gathering & sharing the knowledge assets. Business intelligence applications require the analysis and mining of large volumes of transaction data to support business managers in making informed decisions. Business intelligence is the gathering, management and analysis of large amounts of data on companies customers, products, services, operations, suppliers and partners & all transactions in between. Examples of business intelligence applications include traffic analysis, fraud detection & custom loyalty analysis in the telecommunication industry. Business intelligence applications involve extracting data from operational databases, transforming the data and loading it into data warehouses. Business Intelligence systems address the demands of large-scale enterprises for operational analytics, management information and decision support tasks.
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Business process outsourcing (BPO) is an outsourcing of business functions generally performed by white collar and clerical employees to achieve various benefits such as cost savings, better quality and ability to focus on core competence. It is the contracting of a specific business task, such as payroll, to a third-party service provider. It is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in the marketplace. BPO is often divided into two categories: back office outsourcing, which includes internal business functions such as billing or purchasing, and front office outsourcing, which includes customer-related services such as marketing or tech support.
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