Business IntelligenceWhat Is Business Intelligence?History…Basic Components of Any BI ProgramData MiningOLAPKey Differences between Data Mining and OLAPThe Five Stages of BIData SourcingData AnalysisSituational AwarenessRisk AssessmentDecision SupportThe Many Types of BIDesigning/ImplementingAssessments to be Made by the Company Before Implementing a BI ProgramSlide 17Slide 18Slide 19Companies That Provide BI ProgramsApplicationsBoscov’s Department StoreDoscov’s Department StoreSlide 24Slide 25Safeway Club CardGeneral Problems/ShortfallsBusiness IntelligenceBusiness IntelligenceTracy HartleyZack JohnsonMarissa McGeeTracy HartleyZack JohnsonMarissa McGeeWhat Is Business Intelligence?What Is Business Intelligence?•A set of concepts and methods to improve business decision-making by using fact based support systems.•In other words, business intelligence is created from computer software that analyzes company data and creates useful reports that make the decision-making process more effective and efficient.Wikipedia, encyclopedia•A set of concepts and methods to improve business decision-making by using fact based support systems.•In other words, business intelligence is created from computer software that analyzes company data and creates useful reports that make the decision-making process more effective and efficient.Wikipedia, encyclopediaDataBIProgramInformationReportsHistory…History…•Sun Tzu’s “The Art of War”•One should have full knowledge of one’s own strengths and weaknesses as well as full knowledge of one’s enemy’s strengths and weaknesses.•Before the Information Age•Businesses struggled with the up keep of information and storage.•The process was slow and often ineffective.•Modern Business•Technology has allowed for more effective and efficient systems.•Up to the minute data and analysis.•Sun Tzu’s “The Art of War”•One should have full knowledge of one’s own strengths and weaknesses as well as full knowledge of one’s enemy’s strengths and weaknesses.•Before the Information Age•Businesses struggled with the up keep of information and storage.•The process was slow and often ineffective.•Modern Business•Technology has allowed for more effective and efficient systems.•Up to the minute data and analysis.Basic Components of Any BI ProgramBasic Components of Any BI Program•Data warehouse: a database that holds business information from many sources in the enterprise, covering all aspects of the company’s processes, products and customers (Stair, 219)•Data mart: Subsets of a data warehouse that bring data to small and medium-sized businesses as well as the different departments of larger businesses (Stair, 221)•Data warehouse: a database that holds business information from many sources in the enterprise, covering all aspects of the company’s processes, products and customers (Stair, 219)•Data mart: Subsets of a data warehouse that bring data to small and medium-sized businesses as well as the different departments of larger businesses (Stair, 221)Data MiningData Mining•An automated analysis that looks for patterns and relationships in data warehouses.•Computer software that requires the user’s trust to find all of the valid relationships needed.•Bottom-up analysis that creates hypothesis and predictions.•An automated analysis that looks for patterns and relationships in data warehouses.•Computer software that requires the user’s trust to find all of the valid relationships needed.•Bottom-up analysis that creates hypothesis and predictions.OLAPOLAP•Online Analytical Processing•Creates reports using the data warehouses•A top-down analysis that requires user created queries to match information and determine relationships.•Requires a high level of user skills and understanding of the system.•Online Analytical Processing•Creates reports using the data warehouses•A top-down analysis that requires user created queries to match information and determine relationships.•Requires a high level of user skills and understanding of the system.Key Differencesbetween Data Mining and OLAPKey Differencesbetween Data Mining and OLAP•Data mining takes the data and finds relationships despite the user’s assumptions.•OLAP finds relationships in the data according to the user’s assumption.•Data mining takes the data and finds relationships despite the user’s assumptions.•OLAP finds relationships in the data according to the user’s assumption.The Five Stages of BIThe Five Stages of BI•Data Sourcing•Data Analysis•Situation Awareness•Risk Analysis•Decision Support•Data Sourcing•Data Analysis•Situation Awareness•Risk Analysis•Decision SupportData SourcingData Sourcing•Extracts data from different areas•Memos•Reports•E-mails•Photos•Data is collected through•Database queries•Web searches•Extracts data from different areas•Memos•Reports•E-mails•Photos•Data is collected through•Database queries•Web searchesData AnalysisData Analysis•Search through the data to find that which is relevant to the company’s needs.•Also known as data mining•Can be in the form of current or future trends.•Search through the data to find that which is relevant to the company’s needs.•Also known as data mining•Can be in the form of current or future trends.Situational AwarenessSituational Awareness•Any irrelevant information is discarded and the relevant information is set in the context of the business and its environment.•Applying the information to the problem.•Any irrelevant information is discarded and the relevant information is set in the context of the business and its environment.•Applying the information to the problem.Risk AssessmentRisk Assessment•Decisions are made in terms of what actions should be taken and when.•Analyze the current and future risks associated with our decisions.•Weigh the costs and benefits of making the decisions.•Decisions are made in terms of what actions should be taken and when.•Analyze the current and future risks associated with our decisions.•Weigh the costs and benefits of making the decisions.Decision SupportDecision Support•Apply the information you need in an appropriate time frame and manner.•Apply the information you need in an appropriate time frame and manner.The Many Types of BIThe Many Types of BIDATA•Data mining•Data
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