Business intelligence

What is business intelligence?

Business intelligence (BI) refers to the ways organizations collect, process, and analyze data in order to make informed business decisions. BI is often supported by specialized tools that aggregate and present data in easy-to-digest visualizations and reports.

Why is business intelligence important?

Business intelligence helps companies turn information into action. By retrieving data from multiple sources—such as company profiles, financial records, and market trends—BI tools help organizations gain more visibility into their operations. 

Used in a variety of industries—like finance and consulting—business intelligence can: 

• Improve forecasting accuracy
• Reveal underperforming areas
• Streamline business analytics and decision-making
• Identify emerging market trend
• Support competitive analysis 

In short, BI empowers organizations to act with data confidence, giving them a strategic edge in crowded markets. 

How does business intelligence work?

Business intelligence combines data collection, analysis, and visualization to drive smarter business actions. Most BI systems follow a similar process: 

1. Data Collection 
   Pulls data from sources such as CRM platforms, ERP systems, website analytics, and third-party databases.
2. Data Preparation & Transformation
   Cleans, standardizes, and organizes data into usable formats through ETL (Extract, Transform, Load) processes.
3. Analysis
   Applies statistical or AI-driven methods to identify patterns, correlations, and trends.
4. Data Visualization & Reporting
   Presents findings in user-friendly dashboards, charts, or reports for decision-makers.
5. Actionable Insights
   Enables business teams to adjust strategies, allocate resources, or launch new initiatives based on the insights. 

For example, a PR agency may use a BI solution to track media coverage sentiment, correlate it with campaign spending, and reallocate budget accordingly. 

Business intelligence examples

Below are three examples of how LexisNexis helps organizations across industry turn business intelligence into decisions.

1. Finance
   A private banking institute uses BI to identify market risks and opportunities that help maintain their $400 million portfolio. 
2. Public Relations
   A PR agency uses a BI solution to track media coverage sentiment, correlate it with campaign spending, and reallocate budget accordingly.
3. Media & Publishing
   A leading provider of local news equips their journalists across the country with a database of credible media and news sources, allowing them to easily identify trends, vet interviewees, and build context. 

Business intelligence summary

How LexisNexis can help with business intelligence

LexisNexis combines the breadth of its unmatched content collection with advanced analytics and AI to deliver business intelligence that goes beyond standard dashboards. With solutions like Nexis+ AI, organizations can merge structured and unstructured data—spanning licensed news, company filings, legal records, and market research—into a single, searchable environment. 

From competitive tracking and reputational risk monitoring to market trend analysis, LexisNexis equips decision-makers with trusted, timely, and actionable intelligence that can be integrated directly into existing BI platforms or used standalone for strategic advantage. 

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