KU IST 301 - Business Intelligence Using Information Systems

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Business Intelligence Using Information Systems1) Top Priorities for CIOs (Chief info Officers)a) Business Intelligenceb) Mobile technologiesc) Mobile applicationsd) Web scale ITe) Securityf) Cloud Computingg) Collaboration techh) Legacy modernization2) Impact on the Systems Worlda) Companies are starting to understand that data is a most precious assetb) There will be even more rich opportunities to develop systems to store and manipulate datac) Business intelligence is at the fore front of this thinking3) Why Such Focus on BI?a) Powerful trend in BI becausei) Unforgiving demand for better performanceii) Need for better risk managementiii) Tougher regulatory managementiv) Exponentially increasing amounts of data to process and store -> Big Data4) BI Capabilities a) BI/BA includes a range of capabilities supported by all the major software vendors- IBM, Oracle, SAP, etc.b) Capabilitesi) Looking backward to evaluate what happened to assist in planning for the futureii) Looking forward for scenario planning and predictive modeling5) BA in all Business Functional Areasa) Marketingb) Accountingc) Financed) Manufacturinge) Supply Chain Management6) Data Integrity a) Focus on data, it’s no wonder organizations are putting more effort into ensuring data integrityb) Garbage in, garbage out7) Garbage in, garbage outa) Basic principle- capture data as near as possible to the source and minimize keystrokesb) Automated capturei) Optical character readersii) Magnetic stripe readers (smart cards)iii) RFIDiv) Cell Phones (Starbucks)c) If keystroking needed for data entry -> minimizei) Default values, check boxes, radio buttons, drop downs8) Business Intelligence Preamblea) Pressure to performb) Importance of Big Data and BI c) Need for good data integrity9) Why Organizations Need business Intelligence: Threats and Opportunitiesa) External Factorsb) Opportunitiesc) Threatsd) Business Intelligence10) Understanding Big Data a) Businesses are dealing with the challenge of “Big Data”i) High Volume –unprecedented amounts of data ii) High Variety(1) Structured data(2) Unstructured dataiii) High Velocity- rapid processing to maximize value 11) Continuous Planning a) Real Time Managementb) Update and Adjust Plansc) Track and Monitor Business Processes d) Compare Actual Performance Against Goals12) Databases: Terminology a) Library i) Catalog Card ii) Card Draweriii) Card Datab) DBMS Equivalenti) DBMSii) Databaseiii) Recordiv) Attributesc) Officei) File Cabinetii) File Draweriii) File Folderiv) Report 13) Databases vs Spreadsheetsa) Some people believe that you can run a business on spreadsheets b) Both have good purposesc) Common spreadsheet: Excel, Google docsd) Common DBMS: access on desktop, larger ones14) Use spreadsheet if…a) You want to crunch numbers and perform automatic calculationsb) You want to track a simple list of datac) You want to easily create charts and graphs of your datad) You want to create What IF scenarios 15) Use database if…a) There is large amount of data that would become unmanageable in spreadsheet form you want to maintain records for ongoing useb) The data is subject to many changes (change of address, pricing changes)c) You want to generate reports based on the data 16) Databases: Advantagesa) Table 6.1 17) 3 Components of BIa) Information and knowledge discoveryb) Business and analyticsc) Information visualization18) Information and Knowledge Discovery a) Extract information from existing data, not just generating common reportsb) Its analyzing the data, not just looking at iti) Looking for patterns when there doesn’t appear to be anyii) Looking for relationships among datac) Several methods for discovery19) Traditional Reports and Queries a) Table 6.520) Data Mining a) Thinking something is there, but not knowing exactly whatb) Data mining is used to analyze large volumes of data, usually with sophisticated analytical toolsc) The search is for patterns or trends that can be used to develop predictive models 21) Online Analytical Processinga) Region, device,

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KU IST 301 - Business Intelligence Using Information Systems

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