How Business intelligence determines business success?

To have a competitive edge over the rivals in the prevailing fierce competitive world is the sole aim of every business. This is the reason that the business owners opt for different ways to mark a presence in the marketplace. Business intelligence is also one of the techniques which are extremely effective to succeed in the competition. Many relate it to only analyzing the customer needs, however contrary to this, the approach emphasizes on the industry as a whole. It is a process of gathering information significant to every aspect of the business and finally utilizing this information for the decision making process. This way the management is able to make lucrative decisions.