Business Intelligence (BI)is a Term Used to Describe a Range

question 2

True/False

Business intelligence (BI)is a term used to describe a range of different applications and technologies used to extract and analyze large amounts of data to aid in decision making.

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Definitions:

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels during a period.

Planning Budget

A budget that outlines the expected revenues, expenses, and resource allocations over a specific period, used for strategic financial planning.

Spending Variance

The difference between the budgeted amount for spending and the actual amount spent.

Supplies Cost

The total expense incurred for supplies used during a specific period, encompassing raw materials or office supplies depending on the business context.