In this section, we will try to explain some of the most important BI concepts that you need to be familiar with. Before we start creating Universes, we need to make sure that we are talking the same language. The concepts, terms, and language used here are generic BI terminologies, and they are not related to specific BI reporting tools.
We will start with a knowledge pyramid that describes how data evolves from information to knowledge and finally, to wisdom. This is important because BI focuses on achieving knowledge and wisdom.
We will then talk about the difference between hindsight, insight, and foresight. After that, we will go through a fast overview of a data warehouse (DWH) and how it is related to BI.