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Introduction to Business Intelligence (Components of a BI system…
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Business Analytics
Descriptive
Questions:
- What happened?
- What is happening?
Enablers
- Business Reporting
- Dashboards
- Scorecards
- DataWarehousing
Outcomes
Well defined business problems and opportunities
Predictive
Questions:
- What will happen?
- why will it happen?
Enablers
- Data Mining
- Text mining
- Web / media mining
- Forecasting
Outcomes
Accurate projections of the future & conditions
Prescriptive
Questions:
- What should I do?
- Why should I do it ?
Enablers
- Optimization
- Simulation
- Decision modelling
- Expert systems
Outcomes
Best possible business decisions and transaction
Online transaction processing systems (OLTP) handle routine on‐going business and are constantly involved in handling updates (add/edit/delete) to what we might call operational databases.
• For example:
• ATM withdrawal transaction, sales order entry via an ecommerce site – updates DBs
• ERP, SCM, CRM systems generate and store data in OLTP System
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People Analytics
- Descriptive Analytics - Analyze performance review / feedback
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Operations Analytics
- Descriptive Analytics - Install sensors to collect data, reports
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Financial Analytics
- Descriptive Analytics - Past data, customer profiles
Predictive Analytics - Predict fraud, churn, claims
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Text Analytics
- Descriptive Analytics - Social media Trending data
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Organizational Responses
Be Reactive, Anticipative, Adaptive and Proactive
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Online Analytical Processing (OLAP) are
involved in extracting information from data stored by OLTP systems
•Often built on top AP is effectiveness (and then,
efficiency) and to provide correct information in a
timely manner of a data warehouse where the data is
not transactional