Author(s): Rajorsi PanjaÂ , Subrata Paul
Business intelligence systems combine operational data with analytical tools to present complex and competitive information to planners and decision makers. The objective is to improve the timeliness and quality of inputs to the decision process. Business Intelligence is used to understand the capabilities available in the firm; the state of the art, trends, and future directions in the markets, the technologies, and the regulatory environment in which the firm competes; and the actions of competitors and the implications of these actions. In this paper we have discussed about the needful emergence of the business intelligence in the banking industry. We began our discussion with a brief introduction of business intelligence. Then we discussed about the banking industry and the reason why the evolution of the business intelligence becomes essential. Then we presented a stepwise evolution of business intelligence and where it stands today. We followed with the applications of BI in various aspects in banks and subsequently ended our discussion with the future enhancement of where the business intelligence may be proven to be useful.