Importance The article analyzes certain problems associated with the development of business intelligence (BI) systems and describes the possibility of BI application in strategic management and economic analysis. BI is defined as a group of assets, the main purpose of which is to study and analyze large amounts of data to identify general trends in economic processes, to provide an understanding of the situation and position of the company for further effective decision-making. Objectives The purpose of this study is to identify the core functionality of BI tools for supporting the economic analysis and strategic management. Methods The information and BI theory foundations, advanced research, methodological and practical studies by domestic and foreign academic specialists and experts on BI technology development make a theoretical and methodological framework of the research. Results The findings show that the intelligence enhancement, speed and accuracy increase of reporting, decision-making process effectiveness improvement, and the customer satisfaction increase are the benefits of business intelligence systems, compared to other software products used as information support in economic analysis. Conclusions The Russian BI market is not lagging behind the world market in terms of advanced technologies availability. However, their development has just started. The implementation of BI systems requires combined efforts of researchers and practitioners in the fields of Information Technology, Management, Accounting, Financial Analysis, and other related economic disciplines, and such efforts should be aimed at achieving high efficiency management at the Knowledge Societies level.
Keywords: business intelligence, strategic management, economic analysis, decision support system, data warehouse
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