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Introduction To Business Intelligence (What is Business Intelligence?…
Introduction To Business Intelligence
Components of a BI System
Business Analytics
tools that help transforms data into knowledge
queries
data/text mining
Data Warehouse
cornerstone of any medium-to-large BI system
data is normalized
contains historical data as users can easily view or manipulate it
depending on the granularity specified for the purpose of analysis
Business Performance Management (BPM)
monitor and analyzes organization performance
provides enterprises tools they need to better manage their operations
User Interface
comprehensive data visualization of corporate performance
dashboards
Business Environmental Factors
Consumer Demand
Markets
Technology
Societal
Objectives of a BI System
closes the gap between the current performance of an organization and its desired performance
providing the right information at the right time in the right place
transforms data to information, decisions and finally to action
What is Business Intelligence?
combination of architectures, tools, databases, analytical tools, applications and methodologies
enables interactive access to data
content-free expression
enables manipulation of data
makes use of analytical processing
Major BI Vendors
Microsoft Power BI
Microstrategy
Tableau
Overview of Analytics
Applications of Analytics
People Analytics
Operations Analytics
Financial Analytics
Text Analytics
Customer Analytics
Business Analytics
a broad category of applications and techniques
help enterprise users make better business and strategic decisions
3 levels
Descriptive
"reporting analytics"
understanding underlying trends and causes
dashboards, reports
consolidation of data sources
example: customer analytics - past buying patterns
Predictive
What is likely to happen in the future based on 2 types of techniques
Statistical techniques
Recently developed techniques
data/text mining
web mining
forecasting
example: customer analytics - predict what a customer is likely to buy next
Prescriptive
providing a recommendation or decision to achieve best performance
may be used in an Automated Decision Rules Expert System
optimization, stimulation, expert system
example: customer analytics - prescribe new ways to influence sales
Organizational Responses
Reactive
Anticipative
Adaptive
Proactive