In business intelligence (BI), having access to and being able to utilize important information for the purposes of making sound business decisions towards reaching a specific, strategic goal is the most important aspect. As such, this makes reports and analysis the two most important tools for comprehending large amounts of data and determining a decisive plan of action towards achieving the desired results.
In BI, the collection and presentation of data that allows it to be analyzed is known as reporting. Typically, this is referring to 2 things: the art of collecting data and the presenting of information and data. Reporting is often classified in a number of different ways, such as by determining the most important features or the reporting party's role.
When doing a business intelligence analysis, it is with the assumption that the data has already been reported and presented. The actual definition of analyzing is "to separate (a material or abstract entity) into constituent parts or elements" or to "determine the elements or essential features of." Therefore, in business intelligence, analysis is the process of taking the information apart and breaking it down into relevant pieces. In effect, to determine useful information that can be used to further the organization's strategy.
Once the analysis is done, there is no limit to the possibilities for your business or organization.
In the world of BI, reporting and analysis is the bread and butter of the field as a whole. Without both of these essential components it would be impossible to continually implement successful and proven strategies for growth and innovation.