--- title: "Why Business Intelligence Matters: Top 5 Misconceptions About BI" description: We examine 5 misconceptions about business intelligence and explain why you should care about it. image: https://www.performanceinstitute.org/hs-fs/file-1762160685-jpg/images/business_intelligence.jpg --- It seems that JavaScript is disabled in your browser. For full functionality of this site it is necessary to enable JavaScript. Here are the [ instructions how to enable JavaScript in your web browser](http://www.enable-javascript.com/). **[858 609 6160 | ](tel:8586096150)**[BLOG |](https://92116.hs-sites.com/blog-business-intelligence-plus) [NEWS & EVENTS |](https://92116.hs-sites.com/press-releases) [CONTACT](https://www.s3-na.com/about/contact)  [![5XLogo_Big.jpg](https://www.performanceinstitute.org/hs-fs/hubfs/5x-Logos/5XLogo_Big.jpg?width=180&height=360&name=5XLogo_Big.jpg "5XLogo_Big.jpg")](https://www.s3-na.com/) Search this site on Google # Why Business Intelligence Matters: Top 5 Misconceptions About BI By Jeffrey Yefsky - [Home](https://www.5xtechnology.com) - [Blog](https://www.5xtechnology.com/blog-business-intelligence-plus) - [Business Intelligence](https://www.performanceinstitute.org/blog-business-intelligence-plus/topic/business-intelligence) - Why Business Intelligence Matters: Top 5 Misconceptions About BI ![business-intelligence](https://www.performanceinstitute.org/hs-fs/file-1762160685-jpg/images/business_intelligence.jpg?width=252&name=business_intelligence.jpg "business-intelligence") **Decisions are made through clear information.  **[Business Intelligence](http://www.5xtechnology.com/business-intelligence) (BI) is the processes, technologies and tools that help us change data into information whereby information becomes knowledge. The knowledge derived from the information allows plans to guide organizations. Business Intelligence helps users avoid mistakes, and increases organizations’ performance and market share. Before we dive into further details about Business Intelligence, let’s clear the air on top common misconceptions about it. **Related Content: [6 Benefits of Quality Business Intelligence Systems](http://www.5xtechnology.com/blog-business-intelligence-plus/6-benefits-of-quality-business-intelligence-systems)** ## Top 5 Common Misconceptions 1. Business Intelligence is NOT a product, but it is a formulation of information in which various software help interpret to answer not only present, but future questions (hence, predictive analysis). 2. Business Intelligence does NOT solve a problem to create an opportunity. It simply allows the end users to ask a question to understand the answer. It cannot implement or execute a plan or decide what needs to change for an improvement. In order for BI to be of any value for an organization, there needs to be somebody on the other side of the computer screen or device to execute the plan. 3. Business Intelligence is NOT just a report or a reporting tool; it is crucial with decision-making in today’s modern business world. It helps organizations track project executions with accuracy, reduce costs through controlled productivity and inventory management and increase productivity and help find new markets which organizations may not even realize they are servicing. 4. Business Intelligence is NOT just a one-time implementation. Businesses are always evolving and competition is always changing. Therefore, BI is not a static instance, but a dynamic occurrence to ensure that the organization is ahead of the competition. Business Intelligence is a continuous process driven by improvements throughout the business cycle. 5. Business Intelligence is NOT only for big organizations or organizations with large budgets. Business Intelligence can assist organizations from any level to understand present data and future trends. [Business Intelligence](https://www.5xtechnology.com/blog-business-intelligence-plus/what-is-business-intelligence) is important in this economic market and without thorough understanding of it, businesses will fall behind from the competition that are making predictive analysis and utilizing information to help strategize their next move importantly. [![](https://no-cache.hubspot.com/cta/default/92116/7f32cf04-6e55-4225-aa3f-0de1c26c7ead.png)](https://cta-redirect.hubspot.com/cta/redirect/92116/7f32cf04-6e55-4225-aa3f-0de1c26c7ead) **Related Content: [The Future: Building the Best Predictive Model for Business Intelligence](http://www.5xtechnology.com/blog-business-intelligence-plus/the-future-building-the-best-predictive-model-for-business-intelligence)** *Originally published October 3, 2014. Updated August 22, 2019.* ### **Related Posts** [![](https://www.5xtechnology.com/hubfs/BI-Strategy/bi-2018.png) ](https://www.performanceinstitute.org/blog-business-intelligence-plus/business-intelligence-2018) ### [What Does Business Intelligence Look Like in 2018?](https://www.performanceinstitute.org/blog-business-intelligence-plus/business-intelligence-2018) [![](https://www.5xtechnology.com/hubfs/Business-Intelligence/what-is-business-intelligence.png) ](https://www.performanceinstitute.org/blog-business-intelligence-plus/what-is-business-intelligence) ### [What Is Business Intelligence (BI)?](https://www.performanceinstitute.org/blog-business-intelligence-plus/what-is-business-intelligence) [![](http://www.5xtechnology.com/hubfs/Business-Intelligence/business-intelligence-performance.jpg) ](https://www.performanceinstitute.org/blog-business-intelligence-plus/how-business-intelligence-tools-identify-underperformance) ### [Using Business Intelligence Tools to Identify Underperformance for Faster Resolution](https://www.performanceinstitute.org/blog-business-intelligence-plus/how-business-intelligence-tools-identify-underperformance) ### LIKE WHAT YOU READ? Subscribe to the BI Insights blog to receive updates about: - Business Intelligence - Data Services - Project Management ![Jeffrey Yefsky](https://www.performanceinstitute.org/hubfs/Jeffrey%20Yefsky-edit%202.jpg) [ About the Author: Jeffrey Yefsky ](https://www.performanceinstitute.org/blog-business-intelligence-plus/author/jeffrey-yefsky) [Twitter ](https://twitter.com/yefsky) [LinkedIn](https://www.linkedin.com/in/jeffrey-yefsky-1aabb5) [Facebook ](https://www.facebook.com/5x-Technology-Business-Intelligence-Solutions-166697426716059) [Email](mailto:jeffrey.yefsky@5xtechnology.com) [Website](http://www.5xtechnology.com) Jeffrey Yefsky, CEO for 5x Technology & an award winning leader in BI and Data Services industry, is also a decorated Lt. Commander in the US Navy. #### [CommentsCurrently, there are no comments. 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