Question

Major commercial business intelligence (BI) products and services were well established in the early 1970s. Group of answer choices True False

Answer 1

It is a false statement.

When were major commercial business intelligence (BI) products and services well established?

Richard Millar Devens coined the term "Business Intelligence" (BI) in the Cyclopaedia of Commercial and Business Anecdotes in 1865. He was describing how Sir Henry Furness, a banker, gained knowledge by obtaining and acting on it ahead of his competitors. More recently, in 1958, an IBM computer scientist called Hans Peter Luhn published an article detailing the possibilities of acquiring Business Intelligence (BI) through the use of technology. Today's definition of business intelligence is the use of technology to collect and analyze data, transform it into meaningful information, and act on it "before the competition." Essentially, contemporary BI relies on technology as a means of making choices fast and effectively, based on the correct information at the right time.

In the late 1970s, CEOs began using the internet for researching business information. This led to the development of software, called Executive Information Systems (EIS), to support upper management in making decisions. An EIS is designed to provide the appropriate and up-to-date information needed to “streamline” the decision-making process. The system emphasizes graphics displays and easy-to-use interfaces in presenting the information. The goal of an EIS was to turn executives into “hands-on” users, who handle their own email, research, appointments, and reading of reports, rather than receiving this information through middlemen/women. EIS gradually lost popularity due to its limitations in actually being helpful.

Therefore, Major commercial business intelligence (BI) products and services were well established in the early 1970s is a false statement.

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