Business Intelligence is a progressive method for extracting, transforming, managing and analyzing large data through a mathematical model which gains information and knowledge to help and make decisions in a complex situation. The term business intelligence system is a common umbrella concept that groups multitude of like architected information systems, derived from business and information fields. These systems are used to transform data, keen on information into decisions, and decisions into successful actions. The term business intelligence system lacks generally accepted definition. The lack of clarity in the understanding and use of the term can lead to difficulty when studying the field of business Intelligence systems; in fact one research team proclaims that business information systems are neither a single product nor single system. In reality, business intelligence systems are enhanced described as a grouping of products and systems.
Elements of Business Intelligence are Data Warehouse, Data Mining and Decision Support System. The major origin of business strategy for creating a competitive advantage is to understand the data of the firm generated through its own business. Information processing has increasingly become the foundation for achieving competitive advantage. The organization has to believe that they encompass the right information at the right time which is available to the right people.