Senior executives historically leveraged numerical information to support decisions, leading to the rise of business intelligence (BI). BI uses processes and concepts to provide informed decisions through analytical applications. It answers questions about profitability, performance, and opportunities. The evolution of BI made decision-making faster, more reliable, consistent, and team-oriented. Before BI, key information sources included marketing research, statistical data, management reporting, and market surveys.
Senior executives historically leveraged numerical information to support decisions, leading to the rise of business intelligence (BI). BI uses processes and concepts to provide informed decisions through analytical applications. It answers questions about profitability, performance, and opportunities. The evolution of BI made decision-making faster, more reliable, consistent, and team-oriented. Before BI, key information sources included marketing research, statistical data, management reporting, and market surveys.
Senior executives historically leveraged numerical information to support decisions, leading to the rise of business intelligence (BI). BI uses processes and concepts to provide informed decisions through analytical applications. It answers questions about profitability, performance, and opportunities. The evolution of BI made decision-making faster, more reliable, consistent, and team-oriented. Before BI, key information sources included marketing research, statistical data, management reporting, and market surveys.
Senior executives historically leveraged numerical information to support decisions, leading to the rise of business intelligence (BI). BI uses processes and concepts to provide informed decisions through analytical applications. It answers questions about profitability, performance, and opportunities. The evolution of BI made decision-making faster, more reliable, consistent, and team-oriented. Before BI, key information sources included marketing research, statistical data, management reporting, and market surveys.
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CH-4
GETTING STARTED WITH BUSINESS INTELLIGENCE USING ANALYTICAL INFORMATION FOR DECISION SUPPORT
Senior executives in business leveraged numerical information to
support their decision. This is why they started using business intelligence for the set of processes and concept that allows a business executive to make informed decisions. The IT applicants providing such information were commonly called analytical applications.
It provides answers to questions like:
CONTD Who are most profitable customers? Which are most profitable products? Which is the most profitable marketing channel? What are the various up-sell and cross-sell opportunities? Who are best performing employees? How is company performing in terms of customer expectations? ADVANTAGES OF BI The evolution of BI made decision making : 1. Faster 2. Reliable 3. Consistent 4. Highly team oriented INFORMATION SOURCES BEFORE BI Marketing research Statistical data Management reporting Market survey The are the sources of information before business intelligence. CONTD Marketing research This analysis helps understand better the marketplace in which the enterprise in question is operating. It is about understanding the customer, the competitors, the products and the changing market dynamics. Statistical data This is essentially about unravelling hidden patterns, spotting trends etc. through proven mathematical techniques for understanding raw data. CONTD Management reporting It is a process of providing information to various levels of management so as to enable in judging the effectiveness of their responsibility centres and become a base for taking corrective measures, if necessary. Market survey Enterprise also employ third party agencies to conduct consumer surveys and competitive analysis. They also use benchmark data to understand their strength and weaknesses. DEFINITIONS AND EXAMPLES
ONLINE TRANSACTION PROCESSING(OLTP)
ONLINE ANALYTICS PROCESSING(OLAP) BUSINESS INTELLIGENCE(BI) DATA MINING BIG DATA ANALYTICS CONTD DATA SCIENCE MACHINE LEARNING DATA LAKE OLTP OLTP ( online transaction processing system ) is a class of software programs capable of supporting transaction oriented applications on the internet.
OLTP systems are used for order entry, financial transactions,
customer relationship management and retail sales. Such systems have large number of users who conduct short transactions. OLTP OLAP OLAP ( online analytical processing) is the technology behind many business intelligence applications. It is a powerful technology for data discovery, including capabilities for limitless report viewing, complex analytical calculations, and predictive what if scenario planning.
It performs multidimensional analysis of business data and provides
the capability for complex calculations, trend analysis and sophisticated data modelling. BI BI ( business intelligence) is an umbrella term that refers to a variety of software applications used to analyse an organisations raw data. BI as a discipline is made up of several related activities, including data mining, online analytical processing, querying and reporting.
Companies use BI to improve decision making, cut costs and identify
new business opportunities. BI is more than just corporate reporting and more than a set of tools to coax data out of enterprise systems. DATA MINING DATA MINING is the process of analysing data from different perspectives and summarizing it into useful information. Information that can be used to increase revenue, cuts cost, or both. Data mining software is one of a number of analytical tool for analysing data. It allows users to analyse data from many different dimensions or angles, categorize it, and summarize the relationship identified. BIG DATA BIG DATA is a term for data sets that are so large or complex that traditional data processing application software are inadequate to deal with them. Challenges include capture, storage, analysis, data curation, search, sharing, transfer, visualization, querying, updating and information privacy. DATA SCIENCE DATA SCIENCE also known as data driven science, is an interdisciplinary field about scientific methods, processes and systems to extract knowledge or insights from data in various forms, either structured or unstructured, similar to knowledge discovery in database. MACHINE LEARNING MACHINE LEARNING is a type of artificial intelligence that provides computers with the ability to learn without being explicitly programmed.
Machine learning focuses on the development of computer
programs that can change when exposed to new data
The process of machine learning is similar to that of data
mining. DATA LAKE DATA LAKE is a storage repository that holds a vast amount of raw data in its native format until it is needed. While a hierarchical data warehouse stores data in files or folders, a data lake uses a flat architecture to store data DIFFERENT PERSPECTIVE OF DATA
DATA LIFECYCLE PERSPECTIVE
DATA STORAGE FOR PROCESSING DATA PROCESSING AND ANALYSIS DATA FROM BUSINESS DECISION SUPPORT DATA QUALITY MANAGEMENT ASPECTS RELATED TECHNOLOGY INFLUENCES OF DATA DATA ANALYSIS TECH. SPREADSHEETS AD-HOC QUERY TOOLS ETL TOOLS BI AND REPORTING TOOLS DATA MINING TOOLS BIG DATA ANALYTICS TOOLS WHERE BI IS USED? NETFLIX GOOGLE YAHOO LINKEDIN WALMART FACEBOOK THANK YOU