Final answer:
Business Intelligence (BI) is the information drawn from a company's own systems and external sources for decision-making, including both qualitative and quantitative data as well as secondary data from external research.
Step-by-step explanation:
The term that refers to the information that managers draw from the company's own information systems and external sources to make decisions is Business Intelligence (BI). BI encompasses various tools, applications, and methodologies that enable organizations to collect data from internal and external sources; prepare it for analysis; develop and run queries against that data; and create reports, dashboards, and data visualizations to make the analytical results available to corporate decision-makers as well as operational workers.
For example, through in-depth interviews, focus groups, and analysis of content sources, businesses can collect qualitative data that may contribute to their BI efforts. Meanwhile, quantitative data can be obtained through methods such as surveys and transactional data analysis, which help to inform a more data-driven decision-making process.
In the context of research methods, BI might utilize secondary data such as books and articles written by other authors about their studies. This secondary data helps businesses to understand broader trends without the need to conduct primary data collection themselves.