BI Big Data Analytics Data raw facts and figures Information when data is presented in a context so that it can answer a question or support decision making Knowledge Information Manager s insight and experience Business Intelligence Systems Use data created by other systems To provide reporting and analysis for organizational decision making Discern patterns and meaning in the information Respond and act on the resultant information Collect data and information Every business process process day to day transactions of an organization Data Rich Information Poor Huge amounts of data o Transactional systems Every business interaction o Operational Systems Independent Unrelated Databases NOW Social Media GIGO garbage in garbage out The Ideal All data can be related Any system can use Time and Money Transactional Operational External Observational Where the business has been Where the business is now Where it is going to be in the near future Time is basically money The longer it takes to gather analyze and interpret data the more value is lost Businesses lose money as the time to gather information increases Longer action time means decreasing business value money 1 Data Latency the time taken to collect and store the data Analysis Latency the time taken to analyze the data and turn it into actionable information Action Decision Latency the time taken to react to the information and take action GOAL to minimize the time from the business event happening to a corrective action or notification being initiated Data Mining Information NOT found in raw data alone Analyze data to extract information Tools Queries Reports Multi dimensional analysis Statistical tools Intelligent Agents Intelligence from Data Mining Cluster Analysis o Divides info set into mutually exclusive groups such that the members of each group are as close together as possible to one another the different groups are far apart o Market Basket Analysis detects customers buying behavior and predicts future behavior determining which products customers buy together o It performs such functions as information correlations distributions calculations and Association Detection Statistical Analysis variance analysis Marketers use data from weather co to target where and when to run their sales BEER Hot weather doesn t necessarily mean people run out to buy beer LOTION Cloud coverage wing speed and temperature affect lotion sales most HEALTHY SNACKS sales can increase during both good bad weather depending on location BOTTLED WATER Depending on the season humidity can matter for sales more than Temperature Big Data Companies generate and store Big Data A Corporate Asset IF intelligence can be found Fast Cost effective Correct Some Business Benefits 1 Increased revenue 2 Avoided costs 3 Retaining profitable customers by Improved customer service 4 Avoiding unprofitable customers 5 Keep improve profitable activities 6 Stop correct unprofitable activities Three BI Benefits 1 Single point of access to information for all users 2 BI across organizational departments 3 Up to minute information for everyone 2 BI Big Data Analytics Everywhere Marketing Majors o Retail and Sales Brick and Motor stores collect data and behavior Video camera phones wifi Customer concern don t know they are being tracked Dwell time Follow customers Path where and timing Gender age unique wifi and repeat customers Swatch American apparel uses this o Advertising and PR OM Majors o Operations management o Airlines Finance Majors o Banking o Credit Cards o Brokerage and Securities Trading David Harding gather the data do the analysis and make the decisions Harding invests lots of money based on data once a method is proven competition will increase can predict pattern in the prices and make money Human Resources o Data Insight instead of stereotypes not just extroverted people Information Systems o Hardware Software Telecom The sports team Retailing o Oakland A s massaged data and arcane baseball statistics to spot undervalued players o Wal Mart they analyze sales pricing and economic demographic and weather data to tailor product selections at particular stores and determine the timing of their price markdowns Worker s compensation o A company wondering how to keep workers from jumping ship might gather data on retention rates job satisfaction work life balance and career progress for hundreds or thousands of workers Predictive analytics will change how people get paid the structure of their compensation how much is fixed and how much is variable Police departments o Across the country use computerized mapping and analysis of variables like historical arrest patterns paydays and holidays to try and predict where when crime will happen Public health o Researchers have found a spike in Google search requests for terms like flu symptoms and flu treatments a couple of weeks before there is an increase in flu patients coming to hospitals in a region Economic development o Global Pulse will conduct sentiment analysis of messages in social networks and text messages to help predict job losses spending reductions or disease outbreaks in a 3 given region The goal is to use digital early warning signals to guide assistance programs in advance Economic forecasting o Research has shown trends in increasing or decreasing volumes of housing related search queries in Google are more accurate predictor of house sales in the next quarter than the forecasts of real estate economics Forecasting economic impact of the player in future years the risk involved o Sit with the players and coaches and use info and analytics o Predicting analytics what s going to happen in the future of any particular player o Teams themselves collect info and third parties collect pitches and statistics o Predict patterns of human behavior IBM Watson Question analysis hypothesis generation hypothesis Evidence Scoring Final merging Ranking Moore s Law Bits and Bytes 1 byte 1 keyboard character kilo thousand mega million giga billion tera trillion Redundant arrays of independent disks RAID 4 disks saving the same thing for 1 disk if one of those disks fail they just pull out another one Always have a reasonably fail system never lose data Volatile memory memory is wiped clean when power of a device is turned off Random Access Memory RAM very fast chip based volatile storage in a computing device Non volatile Memory storage that stays when the device is shut off Read only memory ROM memory that is non
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